Supply and Demand Jeopardy: https://drive.google.com/file/d/0B_gpVfHfuRG2YmVkSEJkNzFFVG8/edit?usp=sharing

TEST AND NOTEBOOK CHECK MONDAY!!!!!!

SUPPLY AND DEMAND REVIEW (know this stuff)

1.     Explain the law of supply using a graph on the your paper

2.     Explain the law of Demand using a graph on your paper

3.     What happens to the demand for Hot Dog Buns if hot dogs are determined to cause cancer?

4.     Graph and explain a shortage

5.     What is an inelastic good? Explain why it is inelastic

6.     What happens to the demand for Milk if the price of cereal falls to an all time low?

7.     Graph and give reasons an especially warm summer has resulted in more ice cream being purchased. As a result, may more ice cream trucks have been seen throughout the city streets?

8.     The goo material in lava lamps becomes very expensive. Which curve is affected, how and why?

9.     What is an elastic good?  Give an example.

10. What is the point called where supply and demand intersect?

11. What is the market clearing price and why?

12. Graph an increase in demand and a decrease in supply

13. Explain how the “price of inputs” affects supply

14. What is the law of diminishing marginal return?

15. Explain how demand changes due to the income effect

16. What is the law of demand?

17. Explain how demand is affected by the complementary effect.

18. What is a supply schedule?

19. Goods that have no substitute are what types of demand?

20. Name 4 reasons why supply changes

21. What happens to price if there is a decrease in supply?

22. What happens to price if there is an increase in supply and a decrease in demand?

23.  How can you have a price increase if supply is up and demand is up?

24. What determines the price and the quantity produced of most goods?

25. How can a shortage develop?

26. What 4 things will cause a demand curve to shift?

27. How can future price affect current demand?

28. How is elasticity determined?

29. What is a price floor?  Give an example.

30. What is a price ceiling?  Why would the government implement this?

 

Big Apple Game Questions

1.  What is the price the apples are most frequently sold at in Round 3?

2.  In which round was there the greatest spread in price?

3.  Why did prices become more concentrated?

4.  Why did high profit takers have success?

5.  When half the sellers left the market, what changes did you experience?

6.  In Round 4 did prices go up?  If so, why?

7.  Can you relate the price changes in Round 4 to conditions in the national economy?

8.  What problems did you run into buying or selling?

9.  List 1 strategy that you employed to negotiate your prices.   Did your strategy work? Why or why not?

10. Based on your experiences in this game, explain the importance of supply and demand as a function of our society?

Exam Monday and Notebook check Monday

Unit 3 Notebook check
1. Demand Notes
2. Supply Notes
3. Supply Changes WS
4. 6.1 Questions
5. Elasticity Q's
6. Big Apple

Finished Big Apple Game

Graphing and questions tomorrow

Big Apple Game: See me for any makeup.  We are playing the game in class and will have questions/graphing when the game is completed.

Presented Supply/Demand Rap Songs

Supply/Demand Rap Song

Make a (school appropriate) rap song about supply and demand.
The song must be 20 lines long
It must rhyme.

You don't have to rap it to the class, HOWEVER, if you want 10 pts extra credit you can rap it to the class.

 Elasticity Questions

See Page 92 for examples on how to calculate elasticity

Today we took a quiz.  If you missed class today you need to see me upon return and take the quiz.

Notes on Elasticity:  Read pages 90-93(top half of 93) in your text and take Cornell Notes on Elasticity.  Pay special attention to page 92 as that page shows the formulas to calculate elasticity.

Elasticity Questions: https://docs.google.com/file/d/0B_gpVfHfuRG2TE9qcjZEaXY4LWs/edit?usp=drive_web

Equilibrium Notes- https://docs.google.com/file/d/0B_gpVfHfuRG2Z243aXR1ZXZyNVU/edit?usp=drive_web

Supply/Demand Shifts Questions: https://docs.google.com/file/d/0B_gpVfHfuRG2UGRCRExBelRJWGc/edit?usp=drive_web
 

Read the following pages and take notes (Shifts of a Demand and Supply Curve)  Make sure you understand the difference in each curve and how to graph a change in Supply/Demand.  Show on your notes the explanation of how to graph a change in Supply/Demand as well as a graphic example of both and increase/decrease in Supply/Demand

P 85-86- Demand Shifts
P 117- Supply Shifts

Supply Shifts Worksheet

Demand Shifts Worksheet

Supply Notes:https://docs.google.com/file/d/0B_gpVfHfuRG2RWlEdi1pemN1U0E/edit?usp=drive_web

Supply and Demand Concept Map-  See the example link below and make a Concept Map for both supply and demand

Concept Map

Netflix Reading DBQ

Demand Notes: https://docs.google.com/file/d/0B_gpVfHfuRG2bS1XbnNNVjdBZlE/edit?usp=drive_web

See page 86- How to create a demand Curve

Exam today and Notebook check

Ch 11 Exam Review Questions

1.  Explain the role and importance of financial intermediaries in an economic system and their involvement in investing.
	·         Mutual Funds ·         Financial Assets ·         Diversification ·         Portfolios ·         Risk and Liquidity

2.  Compare and contrast the structure of bonds and money markets and the role each play in the financial system.
	·         Coupon Rate ·         Maturity ·         Par Value ·         Yield ·         Types of bonds ·         Standard & Poor ·         Securities and Exchange Commission ·         Types of markets

3.  How is stock performance measured? What information can indexes give perspective investors?
	·         Risks ·         Brokers ·         Brokerage firms ·         Stock exchanges ·         Bull and Bear ·         Dow Jones ·         S&P 500

4.  Analyze the events of the Great Crash of 1929.
	·         Early 1920’s stock market ·         Speculation ·         Wealth distribution ·         Surplus of goods ·         Buying on the margin ·         Repayment of loans