Tuesday, February 14th, 2006
Intro to the Price System
OBJECTIVE
Students shall be able to
identify market equilibrium,
identify market equilibrium graphically,
define equilibrium price,
define equilibrium quantity,
name the two forces that are equal at equilibrium,
explain why the equilibrium price is special,
define surplus,
define shortage,
identify surplus graphically, and
identify shortage graphically.
ACTIVITIES
Watch "Economics USA: Markets - Do They Meet Our Needs?"
Assignment: Watch the video. Answer these questions.
ASSESSMENT PROCEDURES
Monitor and adjust, as needed. Check student responses while working. Grade student responses when notebooks are collected.
TEKS involved: 2A, 2C, 2D, 3A, 3B, 4A, 4B, 5A, 7A, 7B, 8B, 9C, 10A, 10B, 11A, 12B, 13C, 14A, 15A, 15B, 16A, 17A, 17C, 20A, 20B, 21A, 22B, 23A, 23B, 23C, 23D, 23F, 23G, 24A, 24B, 24C, 24D, 25A, 26A, 26B, 26C, 26D, 27B