Economics – 4/15/14

I.  Bellwork  Q&A

A.  Graph an example of a Price Floor

1. Who benefits from it?
2. What does it create (shortage/surplus)?
3. Provide an example.

B.  Graph an example of a Price Ceiling.

1. Who benefits from it?
2. What does it create (shortage/surplus)?
3. Provide an example

II.  Objectives:

• Analyze and provide examples of how price controls are practiced and their impact.
• Identify the impact resulting from changes in Demand and Supply on equilibrium Price and Quantity
• Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.

III.  Notebook Work-Mapping

• Price Controls-  Bridge Map

IV.  Discussion & Analysis

• Farm Subsidies — Stossel in the Classroom
• Changes in Demand and Supply Curves
• Economics University Game

V.  Classwork

• Supreme Court Rejects Rent Control Challenge
  • Summarize the article -1 paragraph
  • Explain if rent controls should be abolished or if they are necessary.  1-paragraph

• C6_Chapter 6 Review Sheets

Economics W2014