This week in class, we moved to the other half of the equation and began talking about the determinants of supply and practiced shifting the curves, just like with demand. We then talked about Freakonomics and finally ended the week with little activity to bring the worlds of supply and demand together.
Suggested Reading: Textbook pgs. 100-120
Week #8 Vocabulary:
- Supply
- Law of Supply
- Supply Curve
- Determinants of Supply
- TENORG
- Elasticity of Supply
- Equilibrium
This week your blog post/homework is due by Sunday at midnight. Please complete your blog as a new post in the following fashion, labeling it as Week 8
- Paragraph 1: A thorough summary of our learning this week in class.
- Paragraph 2: Please answer the following question - Do you think that we should increase minimum wage to $10/hour? Why? Are there any negative consequences of doing so?
- Paragraph 3: Please feel free to ask questions regarding the class here.
Week #8 Attachments:
Notes on Supply
Determinants of Supply PPT
Elasticity of Supply