Economics – 4/17/15

I.  Bellwork Q&A:  From a starting point of D & S

 

1. What is the current equilibrium price? Where does S &D intersect.
2. What is the new price if demand remains constant and supply increases to S²?
3. What would be the new price if demand decreases to D1 and Supply increases to S²?
4. What would be the price if demand remains constant D and Supply increases to S¹?
5. What could cause an increase in the supply of gold?

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 address a question or solve a problem

III.  Discuss

• Changes in Demand & Supply Graph
• Section 6-1 & 6-2Review Worksheet
• Worksheet32 From Disequilibrium to Equilibrium

IV.  Supply & Demand Quiz

V.  Classwork

• 148 Vocabulary (6)
• 154 2-7 Q&A

Economics W2015