Tuesday, January 12, 2016

Post date: Jan 13, 2016 10:8:55 PM

We began by reviewing the law of supply and differentiating between "change in quantity supplied" and "change in supply."

Then, we went over the "Shifting Supply Curves" Graphing Packet that students completed last week. This connected to students' 5.3 notes on supply. Students had to explain how the scenario would change supply as well as how the curve would shift. See attachment below for answer key to the graphs.

Next, we began to discuss Ch. 6 Price - specifically the notion of market equilibrium price. We discussed Questions 1-3 on the "Price Review Worksheet" - see attachment below.

Homework:

1. Read and take notes on Ch. 6, section 3 - Price (in the textbook)

2. Optional Final Exam Study Guide - if you would like a grade for this, it is due on the day of the final exam