Aim: Why do economists call the demand curve one of the main "tools" of their profession?
Bell Ringer: Journal 20 – Write about a current event at the local/state/national/global level.
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: https://www.youtube.com/watch?v=QvGLcCTXk9o (4 min)
- Review Demand Worksheet questions 9-15 (6 min)
3. Have students work on a concept map about their assigned section of the What is Economics? note-taking guide. (rest of class)
Home Learning:
- 1. Complete concept map
- 2. Complete Demand Worksheet
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