Economics – 5/25/2016

I.  Bellwork:

• Page 141- #34 Draw the diagrams & answer what happens to supply
• Page 141- #37a, b, c  Answers only

II.  Objectives:

• Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence,
• Review and discuss changes in quantity supply, supply, the production function and use marginal analysis to make economic decisions.

III. Classwork

• Kahoot Review of Chapter 5
• Reteaching Chapter 5

IV.  Chapter 5 Test Tomorrow Review:

• 5.1 iLearn Quiz
• Chapter 5 FlashCards
• Diagrams in Notebook
• Production Functions & Schedules
• Graph 2 supply curves on one graph and describe what occurred.
• Explain the difference between a change in quantity demand and a change in demand and illustrate each using graphs.

V.  Classwork:

A.  Economics Skills Lab Supply Questions & Answers

1. Identify the natural resource that is the focus of the article.
2. What is impacting the supply of this resource?
3. Based upon your previous answer, what determinant of supply would this be classified as?
4. Construct a supply graph to illustrate this change in supply and explain what is happening

B.  Ticket Out  (2-4 sentences each)

• Explain the concepts in Chapter 5 you know?
• Explain those concepts in Chapter 5 you need to review?

Economics W2016