Monday/Tuesday April 25-26

Supply and Demand Rap Song: Due next class
Write a Supply and Demand Rap Song
1. 20 lines
2. School appropriate
3. You can use vocabulary from any unit of study we have covered up to this point.
4. You don't have to rap it unless you want 10 PTS EXTRA CREDIT!!!

Test Tomorrow!!!

Study up on the following:
Worksheets we completed graphing changes in:
Changes in Demand
Changes in Supply
Supply and Demand Changes
Determinants of Supply and Demand (Reasons they change)
1. Demand: Income, Inferior Goods, Substitutes, Population, Tastses/Preferences, Future Expectations
2. Supply: Price of Inputs, Technology, Government, Disasters
Equilibrium
Determining Elasticity (see page 92)
Law of Supply and Demand Notes.

Thursday/Friday April 21-22

Finished Big Apple Game and graphed each of the 5 rounds of data.

See me or another student if you missed class so you can get the data needed to graph.

LAST DAY TO TURN IN MAKEKUP WORK FOR THIS 6 WEEK GRADING PERIOD IS MONDAY, APRIL 25!

Tuesday/Wednesday April 19-20

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.

Started the Big Apple Game today.  See me about what team you are on if you missed class.

LAST DAY TO TURN IN MAKEKUP WORK FOR THIS 6 WEEK GRADING PERIOD IS MONDAY, APRIL 25!

Monday, April 18

Sprague Career Day

LAST DAY TO TURN IN MAKEKUP WORK FOR THIS 6 WEEK GRADING PERIOD IS MONDAY, APRIL 25!

Thursday/Friday April 14-15

Today we took a Supply/Demand Quiz- See me after the break to make it up!

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 12-13

Supply Reasons Worksheet

Read Chapter 6 Section 1 (Combining Supply and Demand)
Pay attention to the following:
Equilibrium/disequilibrium
Surplus
Shortage
Price Ceiling (give an example)
Price Floor (give an example)
On your notes, make sure you make a graph that shows what equilibrium, shortage, and surplus are.

Combining Supply and Demand Worksheet

Monday, April 11

Read pp 116-117 on how to show a change in supply.  Using that information will help you show the changes in supply on the worksheet.

Supply Curves Worksheet

Thursday/Friday April 7-8

Demand Changes Worksheet

Supply Notes

Tuesday/Wednesday April 5/6

Intro to Demand Notes

Periods 1 and 2 complete the below questions

For each of the scenarios:
    A.  Sketch a rough demand curve for each of the scenarios below and graph the demand change with a dotted line and label the curves.

    B.  Identify the reason for the demand change (i.e. substitute effect, income effect, etc.)

C.      Identify as increase or decrease in demand

1.        What happens to the demand for Oranges if my paycheck becomes larger due to decreased taxes?

2.        What happens to the demand for Cotton clothing

           if Polyester becomes a big fad.

3.        What happens to the demand for Hot Dog Buns

          if hot dogs are determined to be cancer causing.

4.        What happens to the demand for live Gold fish if

          people learn to like the flavor of live goldfish

5.        What happens to the demand for Coke if the cost

          of the ingredients is Pepsi increases so much

         that Pepsi must raise its cost by 50% while

        Coke prices stay the same.

6.        What happens to the demand for Milk if the price

         of cereal falls to an all time low.

7.        What happens to the demand for Pepsi if

           Pepsi changes their recipe and many of

           the consumers don’t like it.

Monday, April 4

Ch. 11 Exam today!

See me if you missed class for makeup