Lesson on Friday, April 28, 2017

Aim: If prices act as "signals," do we all react to the signals in exactly the same way?  

 Bell Ringer: Current Events

Objectives:

1. Students will explain ways firms engage in price and nonprice competition.  

2. 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.Check HW / grade journals 71-80 

3. Have students complete the note-taking guide (Prices and Decision Making) using their textbook (McGraw-Hill Economics Principles and Practices pp. 142-167), online resources, or class notes as appropriate. Teachers may want to guide students through completing the notes, have students work in small groups, or independently. (rest of class) 

4. Grade Journals 71-80

Home Learning: Complete your Prices and Decision Making NTG 

Section 3 Review, Questions 2, 3, and 7 as Journal 81

Quizlet link to study for this chapter: https://quizlet.com/61919437/economics-principles-and-practices-chapter-6-flash-cards/