Market Equilibrium Review

Tuesday March 29, 2011 – Periods 1, 5, 7                                                            Wednesday March 30, 2011 – Period 2

Today we reviewed market equilibrium in preparation for our Chapter 6 Quiz.

Things to know for the quiz: drawing and properly labelling a demand-supply graph, shifters: TOESI & STORES, price ceiling, price floor, how market price and quantity changes after a shift in demand or supply.

Price Floor and Ceilings

Tuesday March 15, 2011 – Period 2

Today we explored our banana market demand and supply schedules and constructed a demand and supply curve to find equilibrium. We also examined the effects of a price floor and price ceiling on our graphs.

We then spent the remainder of our class working on how equilibrium, market price, and equilibrium quantity changes when there is a change in demand or supply.

Banana Market

Wednesday March 9, 2011 – Periods 1, 5, 7
Thursday March 10, 2011 – Period 2

Today we did an activity called the banana market. In this activity, students participate in a market simulation to discover how an equilibrium price is set and to experience the effects of price ceilings and price floors.

Chapter 6 Market Equilibrium

Monday March 7, 2011 – Periods 1, 5, 7
Tuesday March 8, 2011 – Period 2

Today we had our chapter 5 quiz on demand, supply, determinants of demand and determinants of supply. After the quiz, we discussed the rules for our VSE portfolios and and how to find stocks and investing strategies.

For the last half of class, we covered market equilibrium and how market price and quantity can change when determinants shift either the demand curve or supply curve.

Chapter 5 Review

Wednesday March 2, 2011 – Period 2
Thursday March 3, 2011 – Periods 1, 5, 7

The class did a demand-supply review handout. The review covered the law of demand, demand shifters, demand graphs, law of supplu, supply shifters, and supply graphs. Then we practiced graphing a demand schedule and supply schedule. Finally we worked on a chapter 5 review worksheet.