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Economics

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by

Geraldine Sagasta

on 5 March 2018

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Transcript of Economics

Starter:
1. What is a market?
2. How is an equilibrium price determined?
Graphing
You will work in partners to graph gasoline prices and determine:
Supply
Demand
Equilibrium
and shifts
Starter
1. Describe a factor that would make a demand curve shift.
2. Describe a factor that would make a supply curve shift.
Starter:
1. What is the Law of Demand?
2. Give an example of your answer
Economics
pg. 42 Week 8 Starters
pg. 43 Week 8 Cover Sheet

Notes: pg. 54
The perfect condition...where supply and demand are in agreement.
Equilibrium
Review pg. 47
1. What is demand?
2. What are the factors of demand?
3. What is the Law of Demand?
4. What is supply?
5. What are the factors of supply?
6. What is the Law of Supply?
7. What is equilibrium?

Graphs pg. 47
1. Draw a graph and label it.
2. Draw a demand curve and label it D1
3. Draw a Supply Curve and label it S1
4. Label the Equilibrium E1
5. Draw a new
Demand
curve that shows an increase in
Demand
. Label it D2.
6. Label the new
Equilibrium Price
E2.
7. What did you notice happens to
Equilibrium Price
when
Demand
increases?
8. How might that affect
Supply
?
9. What is that called?
Graphs pg. 47
1. Draw a graph and label it.
2. Draw a demand curve and label it D1
3. Draw a Supply Curve and label it S1
4. Label the Equilibrium E1
5. Draw a new
Supply
curve that shows a decrease in
Supply
. Label it S2.
6. Label the new
Equilibrium Price
E2.
7. What did you notice happens to
Equilibrium Price
when
Supply
decreases?
8. How might that affect
Demand
?
9. What is that called?
Starter:
1. Describe 2 factors that could cause a Demand schedule to decrease?
2. Why would it cause Demand to decrease?
Demand Curves & Shifts
What is Demand?
What causes Demand to shift?
Demand Curve Shifts
Sit in the groups that you had for your commercials from last week.

If you were not here...join a group.
Short Answer Questions Quiz
MUST BE Complete sentences
A. Answer
(your 1 sentence answer)
C. Cite
(give a specific example)
E. Explain

(Further explain how the example you cited proves your answer)
Notes: Supply
Pg. 44-46
Demand Curve Graphs
Presentations or Finish working on it
5:00 Minutes
SAQ-Demand Quiz
Review your notes on Demand
4:00 Minutes
Full transcript