Monday, April 24, 2017

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)

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