UNIT 2 IMPACT STATEMENT This saying will be used for 4 different definitions. All you will have to do is fill in the blanks!! THE AMOUNT OF A GOOD OR SERVICE THAT ___1____ ARE WILLING TO ____2_____AT _____3______ PRICE(S) 1)CONSUMERS OR PRODUCERS 2) BUY OR PRODUCE 3) EACH SPECIFIC (PRICE) OR VARIOUS(PRICES)

AND THAT IS IMPORTANT BECAUSE???? You will have to be able to identify each of those 4 definitions on a graph. It could be a DIVING LINE, A SOARING LINE, OR JUST A DOT OR THIS Like this OR THIS

Consumers or Producers? Consumers will determine A LINE AND PRODUCERS WILL DETERMINE SUPPLY AND QUANTITY SUPPLIED DEMAND PRICE QUANTITY QUANTITY DEMANDED

AND EVENTUALLY LIKE THIS PUT BOTH CONCEPTS ONTO ONE GRAPH AND HOW DO YOU GET THESE LINES??????

USE A DEMAND SCHEDULE TO GET A DEMAND CURVE Price per apple Quantity Demanded $4 20,000 $3 40,000 $2 60,000 $1 80,000 QD QD PRICE IN $ QD QD D1

USE A SUPPLY SCHEDULE TO GET SUPPLY USE THIS SUPPLY SCHEDULE TO GET A SUPPLY CURVE PRICE QUANTITY SUPPLIED $4 80,000 $3 60,000 $2 40,000 $1 20,000

SUPPLY AND DEMAND SCHEDULE Price per apple Quantity Demanded QUANTITY SUPPLIED $4 20,000 80,000 $3 40,000 60,000 $2 $1 AND THIS IS THE RESULT S1 D1