INTRODUCTION
Click on the link and then answer the questions below: Supply & Demand
What is supply? Provide an example of supply.
What is demand? Provide an example of demand.
Click on the link and explain Equilibrium.
Click on the link and explain "price floor and price ceiling".
Part 1
Click on the link and then answer the question below: PS3 Demand
After reading the article, please explain in your own words what happened with the supply and demand for the PlayStation 3 game console.
Part 2
Click on the link and then answer the question below: SUPPLY AND DEMAND OF OIL
After reading the article, explain in your own words how supply and demand for oil is changing. Additionally, address what determinant may be causing the increase in prices.
Part 3
Click on the link and then answer the question below: SUPPLY AND DEMAND OF COLLEGE FOOTBALL TICKETS
After reading the article, explain in your own words, the supply and demand of college football tickets. Additionally, create a graph which depicts the changes in supply and/or demand discussed in the article.
Part 4
Click on the link and then answer the question below: INTERACTIVE SUPPLY & DEMAND
1. What would happen to quantity demanded in the following cases? Explain why people may react in the way you have observed.
Price rises to 8.
Price rises to 9.
Price falls to 3.
Price falls to 1.
2. Read the article about necessities versues luxuires. Then, answer the questions below:
I. What is the difference between necessities and luxuries?
II.What does the article argue?
III. What are Gallup's basic necessities?
IV. According to Gallup how many Americans are going without at least one of the basic necessities?
V.What is the balanced money formula? Explain how it works.
3. Click on the link Supply & Demand determinants and then read the entire webpage. Part 1: You will have to write out all of the practice graphs. Part 2: Explain which determinants affect supply and which determinants affect demand.
Part 5:
Access the following link; Price
ASSESSMENT.
Part 6 :
Access the following link; Supply and Demand Quiz
Answer the the ten question module quiz. List your percentage correct as well as the question numbers which were answered incorrectly.
Part 7:
Access the following link; Supply and Demand Graphing
Scroll down to the bottom of the page and study the table titled Result of Shift in Supply and Demand. Electronically create a graph of the first four examples to prove that an increase or decrease in supply or demand would have that effect on the equilibrium price and quantity.
Click on the link and then answer the questions below: Supply & Demand
What is supply? Provide an example of supply.
What is demand? Provide an example of demand.
Click on the link and explain Equilibrium.
Click on the link and explain "price floor and price ceiling".
Part 1
Click on the link and then answer the question below: PS3 Demand
After reading the article, please explain in your own words what happened with the supply and demand for the PlayStation 3 game console.
Part 2
Click on the link and then answer the question below: SUPPLY AND DEMAND OF OIL
After reading the article, explain in your own words how supply and demand for oil is changing. Additionally, address what determinant may be causing the increase in prices.
Part 3
Click on the link and then answer the question below: SUPPLY AND DEMAND OF COLLEGE FOOTBALL TICKETS
After reading the article, explain in your own words, the supply and demand of college football tickets. Additionally, create a graph which depicts the changes in supply and/or demand discussed in the article.
Part 4
Click on the link and then answer the question below: INTERACTIVE SUPPLY & DEMAND
1. What would happen to quantity demanded in the following cases? Explain why people may react in the way you have observed.
Price rises to 8.
Price rises to 9.
Price falls to 3.
Price falls to 1.
2. Read the article about necessities versues luxuires. Then, answer the questions below:
I. What is the difference between necessities and luxuries?
II.What does the article argue?
III. What are Gallup's basic necessities?
IV. According to Gallup how many Americans are going without at least one of the basic necessities?
V.What is the balanced money formula? Explain how it works.
3. Click on the link Supply & Demand determinants and then read the entire webpage. Part 1: You will have to write out all of the practice graphs. Part 2: Explain which determinants affect supply and which determinants affect demand.
Part 5:
Access the following link; Price
- What are the factors/determinants that can shift the demand curve?
- Explain in your own words what is Ceteris paribus assumption?
- What is a normal good? Provide the definition and an example.
- What is an inferior good? Provide the definition and an example.
ASSESSMENT.
Part 6 :
Access the following link; Supply and Demand Quiz
Answer the the ten question module quiz. List your percentage correct as well as the question numbers which were answered incorrectly.
Part 7:
Access the following link; Supply and Demand Graphing
Scroll down to the bottom of the page and study the table titled Result of Shift in Supply and Demand. Electronically create a graph of the first four examples to prove that an increase or decrease in supply or demand would have that effect on the equilibrium price and quantity.