Wednesday/Thursday April 26-27

Supply/Demand Exam

Monday/Tuesday April 23-24

Supply and Demand Rap Songs

Test next class!!!  Make sure you know the information below for the test!

Review Sheet

Law of Supply        Law of Demand      Elastic/inelastic        Equilibrium             Supply Schedule     Income Effect         

Ceteris paribus        inferior goods         Disequilibrium        price ceiling             price floor               Demand Schedule                  

Elasticity of Demand- (equations- p.92)                               

Determinants of Demand (income, expectations, tastes/preferences, substitutes, complimentary, population)

Determinants of Supply (technology, inputs, # of firms, government taxes/subsidies, disasters)

How to graph a change in supply/demand and give reasons (p. 117 and p. 86)

Thursday/Friday April 20-21

Big Apple Data- when the excel file opens, look on the bottom of the page for the tab with YOUR class on it and click that tab to use your data.  You need to make 5 graphs (1 for each round)  Plot the points on each graph and draw a line of best fit.

Big Apple Questions

Supply/Demand Rap Song-
Create a Supply and Demand Rap song.
20 lines
School appropriate
You can use anything we have studied to this point in your song.
If you rap in front of class you earn 10pts EC

Tuesday/Wednesday April 18-19

Today we played the Big Apple Game in class.  Data to be done next class.  See me if you missed

Monday April 17

Today we finished the Elasticity worksheet and completed the questions below

Calculate the Elasticity of Demand and determine whether the demand is elastic, inelastic, or unitary elastic for the following questions

1. When price of a deluxe car wash rises from $10.00 to $11.00, the number of daily customers falls from 60-48.

2. A dentist with 80 patients cuts his fee for a cleaning from $60.00 to $54.00.  He now goes from 80 patients to 92.

3. An airline raises their baggage fees from $50 to $65, the number of flights drop from 100/day 88/day.

4. Price for a bushel of apples decreases from $4 to $3.  The number of bushels sold increases from 32-45.

5. A newsstand sells magazines for $2/magazine and will sell 100 at this price.  They raise their price 50% and in turn sell 50% less magazines.

6. Ashley raises the price in slices of pizza from $1.00 to $1.50; consequently she sells 3 slices instead of 4.

Thursday/Friday April 13-14

Today we took a Supply/Demand Quiz

Read and take notes pp 90-92
Pay special attention to the following 3 items on pages 91
1. Elastic
2. Inelastic
3. Unitary Elastic

Page 92 has two equations for elasticity.  Use the examples on page 92 for any help on how to find elasticity.

Elasticity Worksheet

Tuesday/Wednesday April 11-12

Supply and Demand Worksheet

Supply and Demand Shifts

Monday April 10

Read Oil Supply Article.  Circle any vocabulary type words and underline any evidence that supports the question for each section. Answer each of the questions in bold about the article.

Watched short video explaining supply and demand
https://www.youtube.com/watch?v=RP0j3Lnlazs

Thursday/Friday April 6

Supply Notes

Supply Reasons Worksheet

Tuesday/Wednesday April 4-5

Today we finished the Demand Notes from yesterday and completed the following:

Intro to Demand Worksheet

Demand Curves Question

Monday April 3

Intro to Demand Notes