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 and distinguish changes in quantity supplied and factors that cause a change in supply. Determine the […]

I. Bellwork: On a separate sheet of paper write an MLA heading Write Chapter 4 Exam as the assignment title. II  Objectives: Apply concepts and principles to distinguishing between a change in quantity demand and a change in demand while identifying the determinants which impact each. Identify situations where demand is elastic and inelastic applying […]

I. Bellwork Berry Mart sold Takis for .50 and the quantity sold was 40 bags.  BerryMart raised the price to .55 and sold 35 bags.  A.  Using the total revenue test determine elasticity.  (SHOW YOUR WORK) B.  Using the price elasticity of demand formula determine elasticity. (SHOW YOUR WORK) II. Objectives Apply tests to determine […]

I. Bellwork Page 113 #26 (Draw the graphs & place arrows demonstrating what will happen to each) II. Objective: Review and discuss concepts and principles relating to demand, quantity demand, and elasticity of demand Construct and evaluate various economic models to provide explanations that best accord with economic principles outlined in the text. III.  Classwork […]

I.  Bellwork:   Explain the accounting concept of Objective Evidence and how it relates to source documents. II. Objectives Analyze, interpret, and record various transactions using a general journal. Interpret and analyze financial transactions following a multi-step procedure based on examples outlined in the text. Apply knowledge of accounting concepts and terminology through participation in Kahoot […]

 I. Bellwork:  On Google Classroom II.  Objectives: Apply the total revenue test to determine demand elasticity Utilize the determinants of elasticity to form a judgement on the elasticity of an item Create a claim, evidence, and reasoning  on elasticity based upon information provided in an article III.  Discussion A.  Total Revenue Test – Brace Map […]

I.  Bellwork –    Write the formula used to determine elasticity If the price of ice pops is .25 and your are able to sell 400, but you decide to raise the price to .40 and the quantity demand drops to 240, is demand elastic or inelastic? – Show your work using the formula. II.  Objectives: […]

I. Bellwork A. Construct and explain an inelastic demand curve B. Construct and explain an elastic demand curve II. Objectives Analyze, interpret and construct economic models to determine demand elasticity Integrate and evaluate  information presented in order to determine demand elasticity from utilization of demand elasticity tests. III.   Discussion  Pages 458-464 A  Demand Elasticity & […]

I. Bellwork: A, The price of Coca-Cola increased. Construct the necessary graphs and demonstrate with arrows what will happen to each demand curve: The impact on the Coca-Cola demand curve The impact on the Pepsi demand curve II.  Objectives: Identify and analyze factors that influence demand elasticity. Review and discuss concepts and principles relating to […]