1. DWU #4
If you were in the market for some Snoop Dogg concert tickets and there were only 20,000 tickets supplied but 80,000 people wanted to go, what would result?
Market Equilibrium P=60 Q=50,000
Graph it…
Shortage/Surplus?
What would happen to price?
How can this situation lead someone to EBAY or craigslist? `

2. DWU#3 What is your interest rate on your credit cards in class?
What is the difference between a high and a low interest rate?
What is a minimum payment and why is it important to pay the card off as fast as you can?

3. DWU #2
What does it mean if our economy has a shortage of water or gasoline?
What is a shortage?
What happens to price?
What does it mean if our economy has a surplus of water or gasoline?
What is a surplus?

4. DWU #1 What is the relationship between Price and Quantity Demand?
Using the demand schedule below create a demand curve.
Price Quantity Demand $
$75 75 $ $
-Calculate the slope of the demand curve from pt. b to d
-What does your answer mean?