AP Economics – 9/21/18
I. Bellwork:
A. Illustrate each of the following by constructing a simple supply curve graph with arrows:
- an increase in quantity supplied
- a decrease in supply
- an increase in supply
- a decrease in quantity supplied
II. Objectives:
- Analyze how prices change through the interaction of buyers and sellers in a market including the role of supply, demand, equilibrium, shortages, and surpluses.
- Integrate and evaluate multiple sources of information presented in diverse formats in order to address a question or solve a problem.
III. Discuss Equilibrium
- Market Clearing Price/Equilibrium
- Prices as Signals
- Equilibrium Example
- Equilibrium Video
- Equilibrium Exercise
IV. Supply Quiz
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