Economics – 11/29/2016

I.  Bellwork::

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.  Classwork

A.  Supreme Court Rejects Rent Control Challenge

  1. Explain the reasoning used by those against rent control.
  2. Explain the reasoning used by those supporting rent control.
  3. What factors did the Supreme Court take into consideration and what was the basis for their decision?  Do you agree?  Explain.

B.  Interpreting graphs

  1. Economics Analysis p. 157
  2. Economics Analysis p. 158
  3. Economics Analysis p. 159 (Hint find equilibrium)

C.  Page 161 #2-5 Q&A

IV.  Review & Discuss Chapter 6 Concepts

V.    Chapter 6 Test Thursday


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