AP Economics – 9/25/18
I. Bellwork Questions & Answers
America now has 1.2 billion pounds of excess cheese — and nowhere to put it
- Why is there a surplus of cheese?
- What has prevented prices from falling?
II Objective
- Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence.
- Analyze the impact of a change in public policy (price ceilings and price floors) on consumers, producers, workers, savers, and investors.
III. Turn in Notebooks
IV. Discussion – Social Goals & Market Efficiency
Econ 2.5 Price Ceilings and Floors
- Price Ceilings and Floors- Economics 2.5
- https://www.mruniversity.com/courses/principles-economics-microeconomics/price-controls-definition-nixon
- Price Ceilings and Price Floors
- Price Ceiling — Rent Control Example from John Stossel
V. Price Controls Bridge Map – Price Floor & Price Ceiling
VI. Homework on iLearn
- 2.5 Price Controls
VII. Quiz on Demand & Supply Shifts and Price Controls Tomorrow
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