Lesson on Friday, April 27, 2018

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


Bell Ringer: Grade & review previous test.


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 (10 min)
2. Brainpop: Comparing Prices
3. Journal 29 – As you read section 1, complete a graphic organizer similar to the one below by explaining the advantages of prices.
4. Read on page 143 "Products in the News" and intro to the chapter. (5 min)
5. Assign sections
6. Complete the note-taking guide (Prices and Decision Making) using the textbook (McGraw-Hill Economics Principles and Practices pp. 142-167) (rest of class)


Home Learning:

1. Section 1 Review / Questions 3 and 5

2. Journal 30 – Assume that there is a gasoline shortage and your state has imposed rationing. Write a paragraph about how this might affect you, your family, and your community.

Lesson on Thursday, April 26, 2018

Aim: How can the supply curve be used as a "tool" for studying markets?

Bell Ringer: Check "Supply" worksheet that was done when I was absent.


Objectives:

1. SS.912.E.1.4 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 (10 min)
2. Supply QQT
3. Supply Unit Test

Home Learning: NO HW!!!!!

Lesson on Wednesday, April 25, 2018

Today we worked on the Supply Worksheet to reinforce Chapter 5 Supply Curve concepts.



As promised, here is the S/A response:

PART B: Short Answer Response


Directions: Answer the question below on a loose leaf.


1. Businesses must know what their overhead is in order to not go bankrupt. Describe what an overhead is and give examples of fixed costs that make an overhead. (3 points)

2. People engage in e-commerce – an electronic business conducted over the Internet. Give examples of ways you have engaged in e-commerce. List two products you've purchased online and your experience with e-commerce (3 points)

*note: you can come to class with this section already completed.

Lesson on Tuesday, April 24, 2018

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. 1. Bell Ringer (10 min)  

2. 2. Profiles in Economics (p. 102) (10 min) - to be completed behind the NTG. 

3. 3. Complete Concept Map and Supply note-taking guide presentations. (rest of class)  

4. 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 tomorrow's test. 

Lesson on Monday, April 23, 2018

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

Lesson on Tuesday, April 17, 2018

Aim: How can the supply curve be used as a "tool" for studying markets?  

Bell Ringer: Journal 26 – 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. Filing 

3. 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 / Complete Supply Concept Map 

Lesson on Monday, April 16, 2018

Aim: How can the supply curve be used as a "tool" for studying markets?  

Bell Ringer:  Journal 25 – Describe the supply curve as described on both videos.  

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.  

Agenda: 

1. Bell Ringer (10 min)  

2. YouTube video on supply curve: https://www.youtube.com/watch?v=nKvrbOq1OfI  and https://www.youtube.com/watch?v=6Q_XxwqtwxY  

3. Complete the note-taking guide (Supply) using their textbook (McGraw-Hill Economics Principles and Practices pp. 116- 141) (rest of class) 

Home Learning: Complete your section of NTG 

Lesson on Thursday, April 12, 2018

Aim: What is supply?   

 Bell Ringer: Review Demand Unit Test 

Objectives: 

1. 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.  

Agenda: 

1. 1. Bell Ringer (10 min)  

2. 2. YouTube video on supply: https://www.youtube.com/watch?v=AdjdWCQbQh8   

3. 3. Journal 24 – What are the three factors of supply as described in the YouTube video. (10  min)  

4. 4. Have students complete the note-taking guide (Supply) using their textbook (McGraw-Hill Economics Principles and Practices pp. 116-141), online resources, or class notes as appropriate.  

Home Learning: Complete your section of the NTG 

Lesson on Wednesday, April 11, 2018

Aim: Why do economists call the demand curve one of the main "tools" of their profession?  

Bell Ringer: Review “Building Wealth” pages 8 and 9 

Objectives: 

1. 1. SS912.E.1.4 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. 1. Bell Ringer (10 min) 

2. 2. Read China's Thirst for Gas on page 114-115 (as a class) 

3. 3. Demand QQT 

4. 4. Demand Unit Test 

5. 5. Grade journals 11-20 

1. Home Learning: Building Wealth read pages 10-11