Monday December 4

Supply and Demand Rap Songs

Test Tomorrow!!!  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)