Economics – 1/11/19

I.  Bellwork on iLearn

II.  Objectives:

  • Review and discuss topics covered on the final exam.
  • Analyze economic problems and construct written responses which explain the issues and provide accurate solutions

III. Turn in Your Books on Monday or receive a $80 delinquency’

IV.  What to study:

A.  Final Exam Review Sheet on iLearn

B.  Economics – Post Test  on iLearn

C.  Short Answer/Essay Review: Final Exam Questions  (20  points)

D.  Problem:  (20 Points) – Create and label graph – identify surplus, shortage & equilibrium

Equilibrium picture 2

Equilibrium picture

V.  Classwork

A.  Construct a graph to illustrate cost-push inflation

B.  Construct a graph to illustrate demand -pull inflation

C. Draw the table below and construct the graph label equilibrium quantity and price

D.  Draw a simple supply and demand graph and explain where a price ceiling would be located and who benefits from it.

E. Draw a simple supply and demand graph and explain where a price floor would be located and who benefits from it.

VI.  Exam:   Monday –     Multiple Choice

Tuesday –  Questions and graphs


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