Aim: How can the supply curve be used as a "tool"
for studying markets?
Bell Ringer: Journal 28 – How did Chenault's
decision improve American Express? Do you agree
with Chenault's claim that being adaptable to
changes is the most important strategy for a
successful business?
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.Profiles in Economics (p. 102) (10 min) - to be
completed behind the NTG.
3.Complete 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: Review your NTG as a study guide
for Tuesday's test.
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