We will be using Cornell Note Taking Format Today! Relax and
enjoy the ride in Econ. Class! Dont be a victim.. Own the day!
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Unit Two: Learning Objectives: North Clackamas School District
Social Studies Priority Standards: HS.51 (A): Explain how supply
and demand represents economic activity and describe the factors
that cause them to shift.
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Go directly to your notes. Do not pass go. Do not collect
$200!:
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Economics Mr. Kirby: Was it Mouse Trap and Typing? Price goes
down Demand goes sideways? I should have taken Cornell Notes
Everyday! ECON, ECON!!!
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increase in income 1. An increase in income results in a(an )
_____________ in demand for steak. increase in income 2. An
increase in income results in a(an) _____________in demand for
spam. decrease in the number of buyers incr in # of buyers 3. A
decrease in the number of buyers [consumers] in the market will
___________ demand for all goods. An incr in # of buyers will
________ D. decrease in the price of a complementary good 4. A
decrease in the price of a complementary good results in a(an)
_____________ in demand for another complementary good. increase in
the price of substitute good 5. An increase in the price of
substitute good results in a(an)___________ in demand for another
substitute good. increase in taste 6. An increase in taste for an
item results in a(an) ___________ in demand. increase in the price
of a complementary good 7. An increase in the price of a
complementary good results in a(an) __________in demand for the
other complementary good. expectationprice of a commodity will be
higher in the future 8. An expectation that the price of a
commodity will be higher in the future than it is now will
____________ its current demand. increase in the number of buyers
9. An increase in the number of buyers [consumers] in the market
will _________ D for normal goods and ________ D for inferior
goods. price of the iPad is expected to increase 10. If the price
of the iPad is expected to increase, there will be an _________ in
D. increase decrease decrease increase increase increase decrease
increase increase increase increase increase
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(A) (B) (C) (D) D1D1D1D1 S S S1S1S1S1 S1S1S1S1 DD RATNEST P P
PP
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How many legs does this elephant have?
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If one of the hearts turns blue, U will make at least a B on
the next test. Now keep staring, if U only see one blue and the
others go away U will make an A. OK, that last statement may not be
true!
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Graphing Review Complete the graphing review sheet and turn
directly into me. Show me your Cornell Notes and I will give you a
Cheat Card for Unit 2 Final Assessment.
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Unit Two Assessment Cheat Card Rules: I need to check to see
you have Cornell Notes. Must fill out card in class and turn into
me at end of the period. Can use front and back of card. Write as
small as you would like. I will give you 40 minutes to fill out
your card Economic concepts to be covered on the test will be shown
on the following slide
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Unit Two Assessment: Economic Concepts to be covered: Law of
Demand and Law of Supply. Explanations and examples of Q vs. QD and
S vs. QS. Detailed definition and examples on Elastic and Inelastic
supply and demand. Determinants of Demand (T-I-M-E-R) with
examples. Determinants of Supply (R-A-T-N-E-S-T) with examples.
Price Floor, Price Ceiling and Equilibrium Know how to create a
demand/supply schedule and convert into a demand/supply curve.
