1.  Groups are back!!!!!!!!!!!!!!!  Try to sit somewhere new

2.  Each day 1 person from each group is responsible for keeping track of what is done in class.  Write down the date and initial beside the date.  If there is a warm-up please copy it down.  If an assignment is given during class please write it down.  If there is a major point of emphasis please write it down.  If homework is assigned please copy it down.

3.  Briefly review yesterday’s topics.  Discuss study guide pages 21-22  Cover text activities pages 33, 35, and 37  Homework read and annotate pgs. 38-45  Objectives: ◦ Explain the role that price plays in a market/mixed economy. ◦ Define demand and describe how it illustrates the price effect. ◦ Explain why people buy more of something at lower prices and less at higher price.

4. Inverse relationship: Always negative slopping. Price (P) is always on the Y-axis and Quantity (Q) is always on the X-axis

5.  Buying Power:  Diminishing personal value:  Diminishing marginal utility:  Availability of substitutes:

6.  Define:  Example:

7.  Define:  Example:

8.  Define:  Example:

9.  Define:  Examples: