Aim: If prices act as "signals," do we all react to the signals in exactly the same way?
Bell Ringer: Read ‘Spotlight on the Economy’ P. 155
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. Begin 'Price & Decision Making' Concept Map and Note-taking guide presentations. (rest of class)
- 3. Have students complete the note-taking guide as each group presents their designated topic.
Home Learning: Chapter 6 Assessment "Review Content Vocabulary"
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