Complete the Elasticity Worksheet.  You must have taken notes yesterday and understand how to calculate elasticity in order complete the worksheet.
Elasticity Worksheet

Notes on Elasticity:  Read pages 90-93(top half of 93) in your text and take Cornell Notes on Elasticity.  Pay special attention to page 92 as that page shows the formulas to calculate elasticity.

 Elasticity Questions

Explain how to graph both a change in supply and demand on the same graph

Equilibrium Notes-https://docs.google.com/file/d/0B_gpVfHfuRG2Z243aXR1ZXZyNVU/edit?usp=drive_web

Supply/Demand Shifts Questions:https://docs.google.com/file/d/0B_gpVfHfuRG2UGRCRExBelRJWGc/edit?usp=drive_web
  

Read the following newspaper headlines. In each case decide if the event will cause a change in the market supply of cars. If you think the supply will increase, write “increase”. If not, write “decrease”. If no change will occur then write “no change”.Support your answer with the reason why supply shifted (technology, number of firms, price of inputs, taxes)

1. AUTO WORKERS AGREE TO WAGE AND BENEFIT CUTS

_______________REASON_________________

2. NEW ROBOT TECHNOLOGY INCREASES EFFICENCY IN DETROIT FACTORIES

__________________REASON__________________

3. NATIONWIDE AUTO STRIKE BEGAN AT MIDNIGHT

__________________REASON_____________________

4. U.S. ALLOWS MORE FOREIGN CARS (ELIMINATES QUOTAS) TO

BE SHIPPED INTO THE COUNTRY

__________________REASON_____________________

5. TAX CUTS IN STORE FOR BIG AUTO MAKERS

__________________REASON_____________________

6. STEEL PRICES RISE 10%

__________________REASON_____________________

7. HEALTH INSURANCE COSTS RISE AND THE AUTO MAKERS

ARE RESPONSIBLE FOR 50% OF EMPLOYEE PREMIUMS

__________________REASON_____________________

8. LARGE AUTO PRODUCER GOES BANKRUPT, CLOSES FACTORIES

__________________REASON_____________________

9. IRS RAISES TAXES ON AUTO MAKERS

__________________REASON_____________________

10. ELECTRICITY PRICES DECREASE 40% THROUGHOUT THE U.S.

__________________REASON__________________________________

For each of the scenarios: A. Sketch a rough supply curve for each scenario below and graph the supply change with a dotted line. B. Identify the reason for the supply change (i.e. taxes, technology) C. Identify if the change was an increase or a decrease 1.  Due to the great success of Mr. CASH’s “TEACHERS MOBILE SUPPLY UNIT” many more competitors are trying to copy the idea. Graph for teachers mobile supply units. 2.  The “goo” material in lava lamps become very expensive. What happens to the supplier’s ability to supply? Graph for Lava lamps 3.  The state government reduces taxes at Big Mikes Burger Place an extra 10%. What happens to the supplier’s ability to supply? Graph for Mikes Burger Place 4.  Due to the war in Indonesia, Indonesian Cinnamon Producers have been fighting rather than harvesting cinnamon causing the price to skyrocket. What happens to the supply curve of cinnamon graham crackers that depend on Indonesian cinnamon? 5.  An invention that increased the production of shoes is flawed thus companies must discontinue the use and go back to the old method. What happens to the ability to supply? Graph for shoes. 6.  Boeing was charged an unexpected additional $8 Billion in taxes. What happens to Boeings ability to produce planes? 7.  What happens to the supply of computers when a government regulation is eased which allows many more companies to enter the market and compete?

Supply Notes:https://docs.google.com/file/d/0B_gpVfHfuRG2RWlEdi1pemN1U0E/edit?usp=drive_web

Supply and Demand Concept Map-  See the example link below and make a Concept Map for both supply and demand

Concept Map

Demand Notes:https://docs.google.com/file/d/0B_gpVfHfuRG2bS1XbnNNVjdBZlE/edit?usp=drive_web

See page 86- How to create a demand Curve

Exam and Notebook Check Wednesday

1.  Explain the role and importance of financial intermediaries in an economic system and their involvement in investing.

Mutual Funds Financial Assets Diversification Portfolios Risk and Liquidity

2.  Compare and contrast the structure of bonds and money markets and the role each play in the financial system.

·         ·         Coupon Rate Maturity Par Value Types of Bonds Standard & Poor Types of Markets

3.  How is stock performance measured? What information can indexes give perspective investors?

Risks Brokers/Firms Stock Exchanges Bull/Bear Dow/S&P 500

4.  Analyze the events of the Great Crash of 1929.

Early 1920’s Stock Market Speculation Wealth Distribution Surplus of Goods Buying on the Margin Repayment of Loans

Notes on Bonds:https://docs.google.com/file/d/0B_gpVfHfuRG2MW9jWUhybjlpSWM/edit?usp=sharing

Questions #1-8 on page 283

Annotate Timeline

Create a Timeline of The Great Crash.  Read pp 290-291 for dates and events related to The Great Crash.  Explain significances and dates from this period of time.  Think about what the important concepts, ideas, events, people and places are and include in your timeline.  Be creative by using charts, drawings or illustrations.  

Stock Project/Paper.  Started on Friday.  Paper due Wednesday in class

Stock Project: https://docs.google.com/file/d/0B_gpVfHfuRG2bGphbm52eVpsT2M/edit?usp=sharing

Weekly Stock Update Sheet: https://docs.google.com/file/d/0B_gpVfHfuRG2Z3ZiRko4eDg4dVk/edit?usp=sharing