I.  Bellwork (Show Your calculations) The local pizzeria sells pizza for $12 a pie. Doing so, he has sold 150 pizza pies a week for the past year. He decides to raise his price to $15 and sees the sales of his pizza pies drop to 100 per week. Using the midpoint formula, calculate the […]

I.  Bellwork Article:  How do retailers use elasticity to increase sales? Questions & Answers Do fake discounts increase quantity demanded like actual price decreases? Should such fake sales be legal? II.  Objectives Interpret and construct graphs demonstrating elastic and inelastic demand explaining their differences Determine the various type of elasticities and their formuals Calculate and […]

I.  Bellwork A.  Summarize the article below https://www.nytimes.com/2018/06/22/well/diabetes-patients-at-risk-from-rising-insulin-prices.html B.   Explain what the options are for the consumers and how they are impacted impacted II.  Objectives: Discuss how the Substitution Effect and Income Effect impact demand Construct formulas to determine demand elasticity Integrate and evaluate  information presented in order to determine demand elasticity or inelasticity. III. […]

I.  Bellwork A.  Create a graph for housing at equilibrium.  Show graphically what would happen if the government instituted a price ceiling.  Explain the impact on Price, Qd, and Qs.. B.   Create a graph for milk at equilibrium.  Show graphically what would happen if the government instituted a price floor.  Explain the impact on Price, […]

I.  Bellwork: Page 90 (1-5) letter and answer II.  Objectives •Describe how quantity controls create problems and can make a market inefficient Explain who benefits and who loses from quantity controls Analyze, Interpret,  and communicate the impact of price controls III.  Turn in Homework IV.  Discussion:  ILearn PPT Module 9 Section 2 A.  Quantity Controls […]

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 […]

I.  Bellwork  Equilibrium Exercise A.  Draw the schedule/table  and add a column to determine (shortage), surplus and equilibrium amounts.   B.  Construct the graph and identify the area of (shortage), surplus and equilibrium amounts.   II.  Objective Analyze how prices change through the interaction of buyers and sellers in a market including the role of supply, […]

  I.  Bellwork: A.   Illustrate each of the following by constructing a simple supply curve graph with arrows: an increase in quantity supplied a decrease in supply an increase in supply a decrease in quantity supplied II.   Objectives: Analyze how prices change through the interaction of buyers and sellers in a market including the role […]

I.   Bellwork Q&A Pg 117 – Companies in the News What created a shortage of the flu vaccine? How did the market respond to the shortage? What is the current availability of the vaccine? II Objectives Define Supply; identify changes in quantity supplied and factors that cause a change in supply. Determine the meaning of […]

I.  Bellwork Explain and illustrate by drawing graphs illustrating the difference between a change in quantity demand and a change in demand II.  Objective Define Supply; identify changes in quantity supplied and factors that cause a change in supply. Analyze, Interpret, and explain changes in quantity supply and supply Determine and apply words and phrases […]