Economics – 11/22/2016
I. Bellwork
(Discuss the cases with your fellow students and write a complete response).
A.) Your store sells a cologne that is always selling out
- Explain what you can conclude about the cologne’s current price in regards to equilibrium?
- Explain what the pressure on price will be?
B.) The cost of attending college is becoming increasingly expensive and more difficult for many students to afford.
- Explain the positive outcomes that would occur if the government put a cap or limit (price ceiling) on college tuition?
- Explain what negative consequences may occur?
II. Objective:
- Evaluate various explanations for actions or events and explain how price, demand, and supply are impacted.
- Analyze the impact of a change in public policy (price ceilings and price floors) on consumers, producers, workers, savers, and investors.
III. Videos:
IV. Notebook – Graph Price Controls
V. Section 6-1 & 6-2 iLearn Quiz
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