Economic – 4/13/15
I. Bellwork
Imagine the government has put a limit of the amount of gasoline a person could purchase each week. (Questions & Answers)
- How would demand be impacted? Explain
- How would supply be impacted? Explain
- What would happen to price and quantity? Explain
- What problems would result from this policy? Explain
II. Objective
- Analyze how prices send signals and provide incentives to buyers and sellers in a competitive market.
- Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence
III. Discussion:
A. Prices as Signal Pages 142-146
B. Videos – Rationing
- https://www.tes.co.uk/article.aspx?storyCode=6109398
- WWII Rationing – Office of War Information
- https://www.newsnet5.com/dpp/news/local_news/video-vault-gas-lines-and-gas-shortages
- Gas Rationing in New York
IV. Notebook Work–
- Section 6-1 Notes from iLearn
- Brace Map – Advantages of Prices & Problems with Rationing
V. Classwork
- Page 143 Vocabulary (6)
- Page 146 Q&A 2-7
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