Economics Learning Steps

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EconomicsLearning Steps

• 8/18/14

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USA Test Prep. Warm-up How Many Will They
Buy Demand Graph Exercises
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Dream Book Journal Entry Standard SSEMI2
Elasticity Review Quiz SSEMI2 Test Review
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Standards Elements

• SSEMI2
• The student will explain how the Law of Demand,
  the Law of Supply, prices, and profits work to
  determine production and distribution in a market
  economy.
• Elements
• a. Define the Law of Supply and the Law of
  Demand.
• b. Describe the role of buyers and sellers in
  determining market clearing price.
• c. Illustrate on a graph how supply and demand
  determine equilibrium price and quantity.
• d. Explain how prices serve as incentives in a
  market economy.

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Enduring Understandings

• Students will understand that Prices send
  signals and provide incentives buyers and sellers
  . When supply or demand changes , market price
  adjust, affecting incentives.

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Essential Questions

• 1. What is the point at which supply an demand
  come together?
• 2. What is it called when quantity supplied is
  not equal to quantity demanded ?
• 3. What is called when quantity demanded is more
  than quantity supplied?
• 4. What is the legal maximum that can be charged
  for a good?
• 5. When the quantity supplied is greater than the
  quantity demanded, what is the condition known
  as?
• 6. What is the government-controlled price
  ceiling on apartment prices called?
• 7. What is it called when the government sets a
  price floor on earnings.
• 8. Until 1996, the United States used price
  supports in agriculture by doing what to create
  demand?
• 9. What happens when any market is in
  disequilibrium and prices are flexible?
• 10. Why does a government place price ceilings on
  some essential goods?

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CompletePrice ExamplesDigital Comic Strips
Ticket-Out-The Door
Class Activities