Economics – 11/07/14
I. Bellwork
Copy the schedule, identify and label the amount of shortage or surplus
| Price | Quantity Demanded | Quantity Supplied | Shortage/Surplus |
| $1.00 | 500 | 100 | |
| $2.00 | 350 | 200 | |
| $3.00 | 250 | 250 | |
| $4.00 | 150 | 400 | |
| $5.00 | 50 | 500 |
II. Objective
- Analyze how prices change through the interaction of buyers and sellers in a market including the role of supply, demand, equilibrium, surpluses, and shortages.
- Integrate and evaluate multiple sources of information presented in diverse formats in order to address a question or solve a problem
III. Discussion and application of price changes
- Economic Low Down – Equilibrium
- Economics Analysis Pages 149, 150, and 152
- New York fuel “panic” grows even as ports open, reserves tapped
- Complete 3-2-1 on the article
IV. 6-2 Quiz – Graphing Supply and Demand
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