Aim: What is
supply?
Bell Ringer: Journal
75 – Draw a Supply Curve graph. Choose a product and describe its supply
curve. You may want to look up supply curves in your textbook or online.
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 (15 min)
2. Have
students work on a concept map about their assigned section of the What is
Supply? note-taking guide. (rest of class)
Home Learning: Read
"Case Study" on page 126
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