Quick review as needed. Take the economics quassessment (short test) on equilibrium. read/define key terms for chapter 7 sections 1 and 3.
Audible Tone: Why set a price floor? Give an example. Why set a price ceiling? Give an example. Turn in.
Quick review as needed. Take the economics quassessment (short test) on equilibrium. read/define key terms for chapter 7 sections 1 and 3.
0 Comments
Audible Tone: What does a tax do to equilibrium? shift in supply? shift in demand? which way?
Do some review on equilibrium in class. Do the review sheet in class. Equilibrium test tomorrow. Audible Tone: Do we want minimum wage above or below equilibrium? By a lot or a little? Why?
Go over the equilibrium shifts ws from yesterday. Look at how taxes impact equilibrium and the graph. Equilibrium test (small) will be on Friday. Audible Tone: How often do we want to get to equilibrium? Why? Who wants to get there most? Why?
Go over the equilibrium worksheet. Take notes on shifts of equilibrium. And then the equilibrium shifts worksheet. Small test on equilibrium is Friday. Audible Tone:
Go over Supply Quiz from Friday. discuss 6/1-2 terms on equilibrium, surpluses, shortages, price ceilings and floors. Equilibrium worksheets will be started in class and finished as homework ( if not completed in class) Small test on equilibrium will be Friday. Audible Tone: How do you figure 1)revenue? 2) total cost? 3) profit? Turn in.
We will have the quiz on supply. Read/define chapter 6 section 1-2 key terms. We will begin going over the equilibrium in class. Audible Tone: Explain the difference between a change in QUANTITY supplied and a change in supply. Draw each. What causes each?
We will go over the worksheet from yesterday in class. We will do a review sheet in class to prepare for the supply quiz that is tomorrow. Audible Tone: Why do supply curves go up and to the right?
Finish going over revenue, total cost, and profit. We will also cover shifts in supply. The supply shift worksheet will be assigned. Supply quiz is on Friday. Audible Tone: Explain inelastic supply and draw one. Explain elastic supply and draw one.
We will go over the supply worksheet from Friday. Do 5/2 terms in class today and discuss those terms. Focus will be given to marginal product of labor, as well as figuring revenue, total cost, and profit. The supply quiz (chapter 5) should be on Friday. Audible Tone: What is the law of supply? Turn in.
We will go over the quiz from yesterday, look at the chapter 5 section 1 definitions that were done after the quiz, and have the supply ws (chapter 5 section 1) for homework. |
|