AP Economics – 9/24/18
I. Bellwork Equilibrium Exercise
A. Draw the schedule/table and add a column to determine (shortage), surplus and equilibrium amounts.
B. Construct the graph and identify the area of (shortage), surplus and equilibrium amounts.
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.
- Integrate and evaluate multiple sources of information presented in diverse formats in order to determine the impact on Qd, Qs, Demand, Supply, and Price.
III. Discussion
A. 2.3 Shifting Demand and Supply PPT
B. Demand & Supply Shift Practice on iLearn
C. Read the article Cheap Pearls
- Create an economic model demonstrating what is happening
IV. Homework on iLearn
- 2.4 Supply and Demand Practice
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