Aim: What is
supply?
Bell Ringer:
Journal 76 – What is causing the supply of organic products to
fall short of meeting the demand? What changes need to take place for the
supply or organic products to increase? (Use "Case Study" to answer
the questions.
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.
2. Students will graph and explain how
firms determine price and output through marginal cost analysis.
Agenda:
1. Bell
Ringer (10 min)
2. Case
Study
3. Concept
Map and Supply note-taking guide presentations. (rest of class)
4. Have
students complete the note-taking guide as each group presents their designated
topic
Home
Learning: Read "Profiles in Economics" on page 131
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