Friday, February 17th, 2006
Price Controls
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,
identify shortage graphically,
identify the effect of changes in supply and demand on equilibrium price and quantity,
define indeterminate,
define price control,
define price ceiling,
define price freeze,
define price floor,
define price support,
identify graphically the effect of a price support.
ACTIVITIES
Students shall watch "Economics USA: Price Controls"
Lecture/discussion: price controls
Assignment: Watch the video and answer the questions about "Economics USA: Price Controls." Take notes on other price controls.
ASSESSMENT PROCEDURES
Monitor and adjust, as needed. Grade the questions in the notebook.
TEKS involved: 3B, 4A, 4B, 5A, 5B, 7A, 7B, 10A. 10B, 15A, 15B, 16A, 16B, 20A, 20B, 21A, 21B, 23B. 23, 24A, 24B