Unit 2

Presentations

Unit 2 AP Mirco Daily Agenda and Notes Review

Demand LT 2A

Supply LT 2B

Consumer/Producer Surplus LT 2D

Price Controls LT 2F

Reading Assignments

2A Demand
- Ch. 3 (p. 61-71)
- Demand, Law of Demand, Demand Schedule, Quantity Demanded, Demand Shifters, Substitutes, Complements, Normal Good, Inferior Good
2B Supply

Ch. 3 (p. 71-78), Ch. 7 (p. 168-169)
- Supply, Law of Supply, Supply Schedule,
- Quantity Supplied, Supply Shifters

2C Equilibrium
- Ch. 3 (p. 78-88)
- Equilibrium Price, Equilibrium Quantity, Market Price, Shortage, Surplus
2D Optimal Consumption
- Chapter 4 (pp. 93-105)
- Consumer Surplus, Producer Surplus
2E Marginal Utility
- Ch. 10 (p. 249-253, 263-266)
- Utility, Utils, Marginal Utility, Diminishing Marginal Utility, substitution effect, income effect
2F Price ceilings and floors
- Ch. 5 (p. 117-138)
- Price Controls,Price floor and results, Price Ceilings and results, deadweight loss, demand price, supply price
2G Elasticity
- Ch. 6 (p. 143-158)
- Elasticity, Price Elasticity of Demand, Equation to calculate Ed, Absolute Value, Number range for: Elastic, Unit Elastic, Inelastic, and Perfectly Inelastic,Total Revenue formula. Midpoint formula. What is the formula for Cross-Price Elasticity of Demand? What does it compare? What is the formula for Income Elasticity of Demand? What does it compare?, Complements, Substitutes, Normal and Inferior goods

Relearning/Retesting

For each learning target for which you did not achieve 70% mastery on the unit exam, complete the following steps (if you scored higher then 70% you may also retake the LT):

Re-read your notes and powerpoints for the learning targets you need to complete
Locate the learning targets you need to complete in the remediation document, copy and paste the assignment into another google doc (share w/Pelzel) or hand write and turn in to Pelzel.
Complete the corresponding remediation/reteaching assignment.
After your remediation has been turned into and verified by Ms. Pelzel, you will get a test code. You can retest on retesting days, before/after school, and during advisement.
Go to Exam Login and take the re-quiz. It is timed and you only have 1 shot, so make sure you're ready!!

Homework

It is expected that you are watching the video lectures/reading the textbook AND taking the quizzes as learning targets are assigned in class.

You should be writing down key vocabulary and concepts.

Key vocabulary is listed in the reading assignments, and full definitions can be found on Quizlet.

Mr. T's Lectures

LT 2A Demand

LT 2B Supply

LT 2C Equilibrium

LT 2D Optimal Consumption

LT 2E Marginal Utility

LT 2F Price ceilings and floors

LT 2G Elasticity