1. Chapter 6SectionMain Menu Opening Act Thursday 10/29 Clear your desks of everything (just place things on the floor by your desk) except a blue or black pen, no pencil & no greenClear your desks of everything (just place things on the floor by your desk) except a blue or black pen, no pencil & no green The quiz will be on a handout, no paper needed from youThe quiz will be on a handout, no paper needed from you

2. Chapter 6SectionMain Menu Opening Act & Agenda Thursday 10/29 QuizQuiz Quiz Grading & DiscussionQuiz Grading & Discussion Intro to Chapter 6Intro to Chapter 6 Assignment: Read Chapter 6, Section 1 & complete the all of the Section 1 Assessment on page 131 in your notes, Quiz Monday 11/2Assignment: Read Chapter 6, Section 1 & complete the all of the Section 1 Assessment on page 131 in your notes, Quiz Monday 11/2

3. Chapter 6SectionMain Menu Chapter 6 Objectives (write these down in your notes, using this title) By the end of Chapter 6, Students will have complete answers to the following questions 1.Can supply and demand create balance in the marketplace? 2.Is there a difference are between a market in equilibrium and a market in disequilibrium? 3.What are the effects of price ceilings and price floors? 4.Do shifts in supply affect market equilibrium? 5.Do shifts in demand affect market equilibrium? 6.Can we use supply and demand curves to analyze changes in market equilibrium? 7.Do prices play a role in a free market system? 8.What advantages do prices offer? 9.Do prices allow for efficient resource allocation?

4. Chapter 6SectionMain Menu Chapter 6 Objectives Predictions Now, looking at your list of objectives, and working in pairs (without the aid of your book) try to predict answers to each of the questions How will you do this? This way –Take out 1 piece of paper per pair, write the name of both students at the top –Start with the first question, obviously numbering your paper 1 at this point. –Discuss the question, and using what you have learned about Demand/Supply and other Economic concepts, try to predict (make an educated guess) an answer to the question. –Write this answer down –Proceed to the next question –If there is a term you do not understand, use one of the dictionaries on the stool for a definition –I will circulate listen in to discussions, but I am not providing any answers at this point –Remember, curious, educated guesses are okay, but take this seriously –I am collecting this before you leave