Supply and DemandIn this unit, we will begin to look at the basic supply and demand graph. First, focusing on demand and what the determinates that cause the demand curve to shift to the left or right are, Then looking at supply and which determinates shift the supply curve. After completely understanding the two curves, we will combine them and see how real world events can shift the curves and lead to either a price increase or decrease. Students will then learn about government interaction in the economy i.e. price floors and price ceilings. Students will realize that short term benefits of these price controls are not worth the problems they cause in the long term. Students will also learn about elasticities and why they are necessary in the study of supply and demand. The unit will end with taxes and utility maximization.
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All videos and handouts can be located on Edmodo.
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2.7-_utility_maximization_and_consumer_choice.ppt |