Lesson on Thursday, April 27, 2017

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

Bell Ringer: Read 'CASE STUDY: I Bought It on eBay' 

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 (5 min) 

2.Analyzing the Impact (p. 147) (5 min) 

3.Review the main points of Section 2. (10 min)

Home Learning: Section 2 Review #s 2, 3, and 6 as journal 80 / work on your Prices note-taking guide.