Ch. 7: How Prices are determined

Ch. 7: How prices are determined.
AKA: who gets what in an economy?
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Ch. 7: How prices are determined.
AKA: who gets what in an economy?

Slide 1 - Diapositive

What is supply?
A
The willingness to buy at all prices.
B
The willingness to produce at all prices.
C
How much is made.
D
How much is bought.

Slide 2 - Quiz

What is demand?
A
The willingness to buy at all prices.
B
The willingness to produce at all prices.
C
How much is made.
D
How much the product will cost.

Slide 3 - Quiz

What does the equilibrium point show?
A
The willingness to buy at all prices.
B
The willingness to produce at all prices.
C
How much is made.
D
How much the product will cost.

Slide 4 - Quiz

What goes on the y-axis of a graph with demand and supply?
A
p for prices.
B
Q for quantity.
C
t for time.
D
x for amount.

Slide 5 - Quiz

What goes on the x-axis of a graph with demand and supply?
A
p for prices.
B
Q for quantity.
C
t for time.
D
x for amount.

Slide 6 - Quiz

Aim today
1) Practice drawing supply and demand curves.

Slide 7 - Diapositive

Plan
Open your worksheet.
Go to learning aims.
Let's discuss...
Finish the worksheet and then:

Slide 8 - Diapositive

Slide 9 - Vidéo

Slide 10 - Vidéo

Slide 11 - Vidéo