Economics – 11/17/2015

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.
  • Synthesize information from a range of sources (e.g., texts, experiments, simulations) into a coherent understanding of a process,
  • Draw evidence from literary or informational texts to support analysis and reflection

III.   Notebook:  Shortage and Surplus Identification

IV.  Discussion and application of price changes

V.   6-2 Quiz – Graphing Supply and Demand tomorrow

VI.   Classwork

A.  Read the article: Cheap Pearls    Cheap Pearls

  • Summarize the article (4-5 sentences)
  • Create an economic model demonstrating what is happening.

B.  148 Vocabulary (6)

C.  154 2-7 Q&A


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