Aim: If prices act as "signals," do we all react to the signals in exactly the same way?
Bell Ringer: Current Events
Objectives:
1. Students will explain ways firms engage in price and nonprice competition.
2. Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.
Agenda:
1. Bell Ringer (10 min)
2. Review HW and Journal 31 (10 min)
3. Complete the note-taking guide (Prices and Decision Making) using their textbook (McGraw-
Hill Economics Principles and Practices pp. 142-167), online resources, or class notes as appropriate.(rest of class)
4. Grade Journals 21-30
Home Learning:
1. Complete your Prices and Decision Making NTG
2. Section 3 Review, Questions 2, 3, and 7 as Journal 32
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