{"id":1063,"date":"2018-11-09T10:58:09","date_gmt":"2018-11-09T15:58:09","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/pius\/?p=1063"},"modified":"2018-11-09T10:59:13","modified_gmt":"2018-11-09T15:59:13","slug":"chapter-5-quiz","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/pius\/2018\/11\/09\/chapter-5-quiz\/","title":{"rendered":"Chapter 5 Quiz"},"content":{"rendered":"<p>The Chapter 5 Quiz will be held on Thursday, November 15.<\/p>\n<h4>Chapter 5 Learning Targets<\/h4>\n<table>\n<tbody>\n<tr>\n<td><b>Learning Target #3: <\/b><span style=\"font-weight: 400;\">\u00a0I can compare how <\/span><b>supply<\/b><span style=\"font-weight: 400;\">, demand, price, equilibrium, elasticity, and incentives affect the working of a market.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ol>\n<li><span style=\"font-weight: 400;\">Describe the <\/span><b>Law of Supply<\/b><span style=\"font-weight: 400;\">. <\/span><\/li>\n<\/ol>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Use a <\/span><b>supply schedule<\/b><span style=\"font-weight: 400;\"> to describe the law of supply.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Summarize what a point on the <\/span><b>supply curve<\/b><span style=\"font-weight: 400;\"> represents.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Using a supply schedule,<\/span><span style=\"font-weight: 400;\"> calculate the<\/span><b> market supply<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">2. <\/span><span style=\"font-weight: 400;\">Describe factors that would lead to a shift in the supply curve or a change in the quantity supplied. <\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Distinguish between the a shift in the <\/span><b>quantity supplied<\/b><span style=\"font-weight: 400;\"> and a shift in <\/span><b>supply<\/b><span style=\"font-weight: 400;\">.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Using a supply\/demand graph,<\/span><span style=\"font-weight: 400;\"> describe whether a shift in the supply curve is indicative of a decrease or increase in supply.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Apply the Determinants of Supply to understand how the supply curve would be affected (what would cause a leftward vs. rightward shift).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">3. Differentiate between an item with <\/span><b>elastic supply<\/b><span style=\"font-weight: 400;\"> and <\/span><b>inelastic supply. <\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">List the Determinants of Supply Elasticity.<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<table>\n<tbody>\n<tr>\n<td><b>Learning Target #2: <\/b><span style=\"font-weight: 400;\">I can analyze how the purposes and limits of business structures (EX: price, productivity and the role of investment) impact competitive markets.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<ol>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Identify the types of costs a business will encounter (EX: fixed, variable, total, and marginal costs).<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Explain the measures that business use in the maximization of profit (total revenue, marginal revenue, marginal analysis, profit maximization)<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Differentiate between the 3 stages of production: increasing returns, diminishing returns, and negative returns. \u00a0\u00a0<\/span><\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>The Chapter 5 Quiz will be held on Thursday, November 15. Chapter 5 Learning Targets Learning Target #3: \u00a0I can compare how supply, demand, price, equilibrium, elasticity, and incentives affect <a class=\"more-link\" href=\"https:\/\/iblog.dearbornschools.org\/pius\/2018\/11\/09\/chapter-5-quiz\/\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1371,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1063","post","type-post","status-publish","format-standard","hentry","category-blogs"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/posts\/1063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/users\/1371"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/comments?post=1063"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/posts\/1063\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/media?parent=1063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/categories?post=1063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/pius\/wp-json\/wp\/v2\/tags?post=1063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}