Economics10-29-2015

Vocab: Law of SupplyJournal:1.) What does the supply schedule show?2.) When the price of oil rises, what will happen to oil production in an oil-rich country? Why?

Economics10-30-2015

Journal:1.) Explain the difference between an elastic business and an inelastic business? What are these?Rock Band ConcertBakerySony or Samsung

Economics10-29-2015

Vocab: Elasticity of Supply

Journal:1.) State whether you think the supply of the following services is elastic or inelastic, and explain why:

(a) a lawn-care service, (b) making movies, (c) professional baseball.

Economics11-2-2015

Vocab: Increasing Marginal Returns & Diminishing Marginal Returns

Journal: 1). What are examples of fixed costs and variable costs for a farm?

Economics11-4-2015

Vocab: Marginal CostJournal: 1). If regulation increases price and decreases supply, why does the government issue regulations?

Economics11-5-2015

Vocab: SubsidyJournal:1.Copy the guided reading chart from p. 123

into your notes. You will fill it out in your groups.

2.Suppose the United States buys most of its bananas from a particular country. If that country suffered a drought, what would happen to the supply curve for bananas? What response by American companies would shift the curve in the opposite direction?

Economics11-6-2015

Vocab: DividendsJournal: 1). Would you invest your money in the stock market? Why or why not?

Old Price New Price Demand Supply

$1.00 $4.00

$6.00 $3.00

$2.50 $7.50

$20.00

$15.35

$9.00 $11.00