Friday, February 17th, 2006

Price Controls


Students shall be able to

  1. identify market equilibrium,

  2. identify market equilibrium graphically,

  3. define equilibrium price,

  4. define equilibrium quantity,

  5. name the two forces that are equal at equilibrium,

  6. explain why the equilibrium price is special,

  7. define surplus,

  8. define shortage,

  9. identify surplus graphically,

  10. identify shortage graphically,

  11. identify the effect of changes in supply and demand on equilibrium price and quantity,

  12. define indeterminate,

  13. define price control,

  14. define price ceiling,

  15. define price freeze,

  16. define price floor,

  17. define price support,

  18. identify graphically the effect of a price ceiling,

  19. identify graphically the effect of a price floor, and

  20. identify graphically the effect of a price support.



  1. Students shall watch "Economics USA: Price Controls"

  2. Lecture/discussion: price controls


Assignment: Watch the video and answer the questions about "Economics USA: Price Controls." Take notes on other price controls.



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