Economics – 11/08/19

I.   Bellwork: Question & Answers

A.   Graph an example of a Price Floor
1. Who benefits from it?
2. What does it create (shortage/surplus)?

B.   Graph an example of a Price Ceiling.
1. Who benefits from it?
2. What does it create (shortage/surplus)?

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

IV. Section 6.1 & 6.2 iLearn Quiz

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