AP Economics – 1/24/2020
I. Bellwork
Summarize what happened and why? Explain the economic impact of the decision and provide your opinion
A Luxury Dish Is Banned, and a Rural County Reels
II. Objectives:
- Explain (using data from PPCs or tables as appropriate) how specialization according to comparative advantage with appropriate terms of trade can lead to gains from trade.
- Explain (using graphs as appropriate) the relationship between the price of a good or service and the quantity demanded
- Explain (using graphs as appropriate) the relationship between the price of a good or service and the quantity supplied
- Demonstrate the effect of a change in an economic situation (equilibrium) on an accurately labeled graph or visual.
III. Classwork On AP Classroom:
- Macro Supply-Demand-Equilibrium
- Progress Check Unit 1 MC & FRQ
Collaborate in analyzing and solving the problems provided
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