Lesson on Wednesday, May 2, 2018

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

 Bell Ringer: Current Events  

Objectives: 

1. 1. Students will explain ways firms engage in price and nonprice competition.   
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2. 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. 1. Bell Ringer (10 min)  

2. 2. Review HW and Journal 31 (10 min)  

3. 3. Complete the note-taking guide (Prices and Decision Making) using their textbook (McGraw-Hill Economics Principles and Practices pp. 142-167), online resources, or class notes as appropriate.(rest of class)  

4. 4. Grade Journals 21-30 

Home Learning: 

1. Complete your Prices and Decision Making NTG  

2. Section 3 Review, Questions 2, 3, and 7 as Journal 32