Objectives:
Inquiry Questions: How does a market economy function and how does it impact daily life for every citizen? Key Vocabulary and Concepts: Demand and Supply Schedules and Graphs Substitutes and Complements Attitudes and Incomes Total revenue Marginal Utility Equilibrium Shortage Surplus Elasticity Price Floors and Ceilings Businesses in a market economy Resources: Create a Graph Total Revenue Test Explained Khan Academy Videos of Supply and Demand Unit Study Guide How Supply and Demand is Reported in the News The Problem of Externalities The Problem with Private Prisons The Problem with Monopolies Required Reading: Supply and Demand Extra Readings:
Introducing the Market System Basics of Demand and Supply Graphing Demand and Supply Changes Elasticity of Demand Total Revenue and Elasticity Equilibrium (Market Clearing Price) Ceilings and Floors Extra Reading: Overview of Demand and Supply Lecture Notes: Market System Basics Market Structures Demand Elasticity Supply Markets - Shortages, Surpluses, Ceilings, and Floors Activities: NYSE Made Easy (Stock Market) Markets, Income, Factors of Production Demand Curves Intro Needing Elasticity Supply Changes Supply and Demand in the Real World Evaluations: Demand Quiz Shale Oil Demand Case Study Quiz Unit Test Online - Timed at 25 minutes Unit Test - Graphing |
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