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Week 11/ October 16 to October 20

October 16 2017

Essential Question:

SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy.

  1. Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition.

EQ:  How does the level of competition faced by a firm affect the firm’s actions?

 

Activator:

Students will address the following question: Which of the following businesses face the MOST competition? Which one faces the least?  Rank in order from MOST competition to LEAST competition:   Coca-Cola, Georgia Power,  McDonalds, Cotton Farmer

Teaching Strategies: 

Students will learn about the 4 different types of market structures.  On this day we will focus on Monopoly and Oligopoly.  Students will fill out half of a graphic organizer that covers all for types but they will only fill out Monopoly and Oligopoly.

Handouts are available under Unit 3 Market Structures and Business Organizations entitled Market Structures Note Sheet and Market Structures Complete.

With any additional time students will complete a study for the quiz on market structures and business organizations.  Located under Unit 3 Market Structures and Business Organizations entitled Study Guide for Market Structures and Business Organizations.pdf
 

Market Structures Note Sheet

Note Sheer Complete CLICK HERE

Quiz Study Guide CLICK HERE

Market Structure Presentation CLICK HERE

Summarizer:

Revisit warm up.

 

October 17 2017

Essential Question:

SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy.

  1. Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition.

EQ:  How does the level of competition faced by a firm affect the firm’s actions?

Activator:

Socrative questions reviewing monopoly and oligopoly, as well as business organizations.

Teaching Strategies: 

Students will learn about the last two concepts in business organizations.  Students will learn about monopolistic competition and pure competition.  Students will be guided through a teacher lead Nearpod.

Homework Nearpod Code that covers Monopolistic Competition and Pure Competition: PVMRQ

With any time left students will continue to work on their study guide.

Summarizer:

Socrative Exit Ticket

 

 

October 18 2017

Essential Question:

SSEMI4 The student will explain the organization and role of business and analyze the four types of market structures in the U.S. economy.

a. Compare and contrast three forms of business organization—sole proprietorship, partnership, and corporation.

b. Explain the role of profit as an incentive for entrepreneurs.

c. Identify the basic characteristics of monopoly, oligopoly, monopolistic competition, and pure competition. 

 

Activator:

Students will particiapte in a quiz wordsplash that covers concepts that will be in the quiz on this day.

Teaching Strategies: 

Students will work through two worksheets.  The first reviews business organizations, and the second, brings all the concepts together that will be in the quiz.  

The first activity can be access under Unit 3 Market Structures and Business Organizations entitled Business Organizations Questions and the second activity is entitled .Buck Bidness 

Business Organization Questions CLICK HERE

Buck Bidness (Will be Nearpod as Well) CLICK HERE

Quiz Review CLICK HERE

Summarizer:

Students will take a cumulative quiz that covers business organizations and market structures.

 

 

October 19 2017

Essential Question:

SSEMI2 The student will explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.

  1. Define the Law of Supply and the Law of Demand.

d. Explain how prices serve as incentives in a market economy

EQ:  How does the interaction of buyers and sellers create the forces of supply and demand in a market economy?

 

Activator:

Classnote:

In a market economy production decisions and prices are primarily determined by the Laws of Supply and Demand. 

 

The Law of Demand states Ceteris paribus (all other things held constant), as price increases, quantity demanded decreases. As price decreases, quantity demanded increases.  This trend creates the curve shown in the graph.  The downward slope of the demand curve illustrates this inverse relationship between price and quantity.  The most important aspects of the Law of Demand states: As Price increases Quantity Demanded decreases.  As Price decreases, Quantity Demanded increases.

When prices change, we move along the demand curve.  This is referred to as a change in quantity demanded.

(Demand Curve Example)

Cow and What do you think of when you hear the term Supply and Demand.

Teaching Strategies: 

Students will be introduced to the concept of Supply and Demand.  This day will specifically be used to address the Law of Demand and Demand in general.  Presentation is avaliable under Unit 4 Microeconomics entitled Law of Demand Presentation and Law of Demand Practice.

After being show how the Law of Demand works, students will work on individual practice.

Significant time will be spent assuring that graphs are created and labeled correctly.

Presentation CLICK HERE

Practice CLICK HERE

Summarizer:

Socrative Exit Ticket

 

 

October 20 2017

Essential Question:

SSEMI2 The student will explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.

  1. Define the Law of Supply and the Law of Demand.

d. Explain how prices serve as incentives in a market economy

EQ:  How does the interaction of buyers and sellers create the forces of supply and demand in a market economy?

 

Activator:

Classnotes-

The Law of Supply states, Ceteris paribus (all other things held constant), as price increases, quantity supplied increases.  As price decreases, quantity supplied decreases.  This behavior creates the curve shown in the graph to the left.  The positive slope of the supply curve illustrates the direct relationship between price and quantity. The most important aspects of the Law of Supply say: As Price increases Quantity Supplied increases.  As Price decreases, Quantity Supplied decreases.

 

When price changes, we move along the supply curve.  This is referred to as a change in quantity supplied.

(Supply Curve Example)

In pairs students will answer questions related to the Law of Demand.  We will go over these as a class.

 

Teaching Strategies: 

Students will be introduced to the concept of Supply.  This day will specifically be used to address the Law of Supply and Supplyin general.  Presentation is available under Unit 4 Microeconomics entitled Law of Supply Presentation and Law of Supply Practice.

After being show how the Law of Supply works, students will work on individual practice.

 

Significant time will be spent assuring that graphs are created and labeled correctly.

Presentation ClICK HERE

Practice CLICK HERE

Summarizer:

Socrative Exit Ticket

 

 

 

October 23 2017

Essential Question:

SSEMI2 The student will explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.

a. Define the Law of Supply and the Law of Demand.

b. Describe the role of buyers and sellers in determining market clearing price.

c. Illustrate on a graph how supply and demand determine equilibrium price and quantity.

d. Explain how prices serve as incentives in a market economy.

EQ:  How does the interaction of buyers and sellers create the forces of supply and demand in a market economy?

 

Activator:

Students will be provided with a Supply schedule and a demand schedule.  They will graph both on the same graph.

 

Teaching Strategies: 

Students will learn about the concept of equilibrium and market clearing price, as well as the concept of disequilibrium.  Students will then be introduced to the concept of surplus and shortage.  After being introduced to the concept, students will work a paired practice.  Students will be paired based on a Socrative quiz they take.

Practice is avaliable under Unit 4 Microeconomics entitled Supply and Demand Equilibrium.pdf.

Significant time will be spent assuring that graphs are created and labeled correctly.

 

Summarizer:

Socrative Exit AND go over practice.

 

 

 

October 24 2017

Essential Question:

SSEMI2 The student will explain how the Law of Demand, the Law of Supply, prices, and profits work to determine production and distribution in a market economy.

a. Define the Law of Supply and the Law of Demand.

b. Describe the role of buyers and sellers in determining market clearing price.

c. Illustrate on a graph how supply and demand determine equilibrium price and quantity.

d. Explain how prices serve as incentives in a market economy.                        

EQ:  How does the interaction of buyers and sellers create the forces of supply and demand in a market economy?

Activator:

On a half sheet of paper students will label a market in equilibrium and indicate both the areas of shortage and surplus.  Students will share work with another student.  Go over as a class to assess understanding.

Teaching Strategies: 

Review key concepts of Law of Supply, Law of Demand, Equilibrium, Disequilibrium, Surplus, and Shortage.  Students will then be quizzed on these concepts.

Significant time will be spent assuring that graphs are created and labeled correctly.

 

Summarizer:

Students will take quiz.

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