Aim: How can the supply curve be used as a "tool" for
studying markets?
Bell Ringer: Journal 27 – 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 on page 126
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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