Intro to Business – 9/17/09
I. Bellwork
A. Explain the quote:
The forces in a capitalist society, if left unchecked, tend to make the rich richer and the poor poorer. – J. Nehru
II. Objectives:
- Describe Supply and Demand
- Describe how supply and demand affect prices of products and services
III. 1-4 Supply and Demand
A. Parties in a market economy
1.
a. What do they set?
2.
a. What do they establish?
B. Determining Price
1. Factors Influencing Demand
a. Examples
2. Factors Influencing Supply
a. Examples
3. Determining Market Price
a. How?
b. Where is it?
IV. Classwork
A. Terms 5
B. Pg 26 1-3 & #4 create a demand curve
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