Economics Tic-Tac-Toe. You will chose 3 of the following activities to complete by the end of the period! You have to make a tic-tac-toe with your assignments.

Slides:



Advertisements
Similar presentations
6-1: Seeking Equilibrium: Demand and Supply
Advertisements

Unit 2A – Demand and Supply Price Controls & Consumer Surplus.
MID Year Graphs You should know and be able to draw, explain and label all parts.
Demand and Supply Analysis. Demand and supply analysis The price mechanism: effect of a rise in demand the goods market The price mechanism: effect of.
Demand and supply analysis. The demand curve The demand curve: The demand for potatoes (monthly)
Demand and supply analysis
Prices and Equilibrium Mr. Bammel. Prices The monetary value of a product as established by supply and demand. Turn to a partner in the room and have.
Demand and Supply Review (Chp. 4) What is the demand for a product? What is the supply of a product? What are the slopes of each? What is the relationship.
Combining Supply and Demand Chapter 6.  Price at which quantity supplied is equal to quantity demanded  Intersection of the demand and supply curves.
Chapter Five: Welfare Analysis. Consumer Surplus.
Microeconomics: Law of Supply & Demand
Long Run Market Supply is Horizontal (p. 306) Entry and Exit will end when P=MC at min. of ATC = Long Run Equilibrium (Efficient Scale) Only one price.
CHAPTER SIX PRICES. Equilibrium When demand meets supply Demand greater than supply – shortage Supply greater than demand - surplus.
5.1 – An Economic Application: Consumer Surplus and Producer Surplus.
Warm Up What is Marginal Cost? What is Variable Cost? What are the 7 factors that shift the supply curve? What are the 3 Stages of production?  Explain.
Today’s LEQ: How do markets operate?.  The market is the most important economic institution in a market economy  Markets exist when buyers and sellers.
Unit 2 – Demand and Supply Price Controls & Consumer Surplus.
Unit 3: Microeconomics SSEMI3 The student will explain how markets, prices, and competition influence economic behavior. a. Identify and illustrate on.
Demand, Supply, and Prices Dr. T. D. Mitchell Bonneville High School Idaho Falls, Idaho.
EQUILIBRIUM. IN YOUR NOTEBOOK If you have higher supply than demand, what is it called? If you have higher demand than supply, what is it called?
Changes in Equilibrium Lesson 2.7. Changes in Supply and Demand Law of Demand and Law of Supply describe what happens when prices change When price changes,
Demand Defined Demand Graphed Changes in Demand Supply Defined Supply Graphed Changes in Supply Equilibrium Surpluses Shortages Individual Markets: Demand.
Economics Unit 4 Supply. Supply refers to the various quantities of a good or service that producers are willing to sell at all possible market prices.
Equilibrium: Demand and Supply Understand how prices send signals and provide incentives to buyers and sellers Explain equilibrium in the marketplace Analyze.
Chapter 6 Combining Supply and Demand. Equilibrium- where the supply and demand curves cross. Equilibrium determines the price and the quantity to be.
Equilibrium Price  A. In the real world, demand and supply work together.  B. The price at which the supply meets the demand—where the two curves intersect—is.
Equilibrium MARKET DEMAND & SUPPLY $ $ x 200 B U Y E R S PQDQD BUSHELS OF CORN MARKET DEMAND 2,000 4,000.
Taxes on Producers.
Economics Chapter 6 Bringing Supply and Demand Together.
Unit 2, Lesson 2 Cost Analysis Learning Targets: IWBAT graph and explain how firms determine price and output through marginal cost and analysis IWBAT.
CHEVALIER FALL 2015 Supply and Demand Together. Warm-Up #9: Review Notes… Explain the pricing mechanism. When do surpluses occur and when do shortages.
Module 18 review 1.what causes markets to move towards equilibrium, even after shifts in demand and/or supply? 2.what causes a true shortage?... a true.
Supply and Demand: Supply and Equilibrium. * What is the supply curve? * What is the difference between movements along the supply curve and changes in.
Unit 3 – Supply and Demand: Elaboration. Categories Terms / ConceptsShiftsShifts 2EquilibriumEquilibrium
Mr. Bammel. Equilibrium Projects As I discuss all the topics of the equilibrium projects, think about each and be sure that what you put in your projects.
CDAE 272 International Economic Development Spring 2008.
Unit 3 Targets. Target #1 Be able to identify what demand is and what sector it refers to.
1.2.8 Unit content Students should be able to: Distinguish between consumer and producer surplus Use supply and demand diagrams to illustrate consumer.
What is the purpose of supply and demand? They determine the price of a good or service.
Demand Review You have 30 minutes to complete the handout. Work individually to ensure that YOU understand each and every question. Don’t just sit there,
Supply & Demand Chapters 3, 4, & 5. Chapter 3 Demand – True demand meets 2 requirements: 1 2 Law of Demand Demand Curve: Demand Schedule: Diminishing.
MARKET IN WHEAT Essential Skill: Demonstrate Understanding of Concepts Objective: To understand how supply and demand work together in a market.
PowerPoint 5 Unit 2 Economics
Shifting Supply and Demand
William A. McEachern The Market System A Contemporary Introduction
Section 2 Review.
Market Equilibrium and Linear Equations
MARKET EQUILIBRIUM.
Prices and Decision Making
6-1: Seeking Equilibrium: Demand and Supply
Demand, Supply, and Market Equilibrium
DO NOW!! Imagine the price of gas suddenly fell to 10 cents/gal…
Basic Economic Concepts
Putting it all together
Unit 2: Supply, Demand, and Consumer Choice
Price Ceiling S Price PE D QE Quantity
Chapter 6 Notes The Price System.
Chapters 4-6 Test is Tue. (Ch. 4-6 Warm-ups due on test day)
AP ECONOMICS: September 11
Section 2 Review.
Quantity Demanded and Quantity Supplied
Graphing Supply.
Chapters 4-6 Test is next Wed. (Ch. 4-6 Warm-ups due on test day)
3 C H A P T E R Individual Markets: Demand & Supply.
AP ECONOMICS: February 22
Market-Clearing Price Supply and Demand together
Shortage and Surplus By: Ben Quick.
Market Equilibrium – Consumer and Producer Surplus Graphically, we can identify the areas representing consumer and producer surplus, which.
AP ECONOMICS: September 13
Supply and Demand Test Review
Presentation transcript:

Economics Tic-Tac-Toe

You will chose 3 of the following activities to complete by the end of the period! You have to make a tic-tac-toe with your assignments. You may go by row, column, or diagonal Make sure that you save frequently to the desktop and then before the period ends to first class conferences.

Create a word wall for each of the words. Pick 5 of the the words: price ceiling, price floor, price equilibrium, shortage, surplus, and rationing, Using 3 of the determinants of supply and 3 NPD of Demand, show the effect on the Curve and Pe and Qe Write 10 new learning stations mix supply and demand- show the change in each Research Price ceilings and price floors- give 2 times in history when these have been used and if they have worked- graphically illustrate each Come up with a product and 8 sentences that change the supply or demand of that product- show what happens to Pe and Qe for each Draw and label correctly the four supply and demand graphs with price equilibrium. Pick one market and show with words (write an essay) the change in cost of production. Use the examples of both production costs and technology and describe how Pe and Qe changes. Graphically illustrate 8 of the 11 NPD changes for Supply and demand- show changes in Pe and Qe Graphically illustrate the 4 shifts in the supply and demand curves and make an acrostic from the word EQUILIBRIUM