Economics – 4/24/15
I. Bellwork: Question & Answers
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
• Integrate and evaluate various graphic models in order to address a question or solve a problem.
III. Notebook Work-Mapping
• Bridge Map – Surplus & Shortage
IV. Classwork
V. Chapter 6 Test – Tuesday
• Study your notes
• Section 6.1 & 6.2 Handout
• Chapter 6 Review Sheet-
• Review Section 6.1 & 6.2 iLearn Quiz
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