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
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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