Aim: Why do
economists call the demand curve one of the main "tools" of their
profession?
Bell Ringer: Journal 69 –
Describe the Law of Demand / show YouTube video.
Objectives:
1. Students will define supply, demand,
quantity supplied, and quantity demanded; graphically illustrate situations
that would cause changes in each, and demonstrate how the equilibrium price of
a product is determined by the interaction of supply and demand in the market
place.
Agenda:
1. Bell
Ringer (10 min)
2. YouTube
video: https://www.youtube.com/watch?v=QvGLcCTXk9o (4 min)
3. Have
students work on a concept map about their assigned section of the What is
Economics? note-taking guide. (rest of class)
Home Learning: Complete
concept map
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