1. Oil Crisis of 1973 Why didn’t the U.S., or any other counties for that matter, get it’s oil somewhere else? How was the price impacted by the supply of oil? What are some ways the U.S. could have overcome this shortage? How did the supply of oil effect more than just the economy of the world?

2. Supply in the Marketplace Understand what supply in the marketplace is in an economic sense Analyze how changes in supply impact the overall marketplace Draw informed conclusions about the “Law of Supply” from a business perspective

3. Extra-Credit Time!!! Create your own supply market 1.Need a legitimate “witness” to verify the act in order tor receive the extra credit 2.Need to complete the sheet— ACCURATELTY—to be eligible Once you are finished, hand this sheet in and wait for further instruction

4. “Law of Supply” Based on what you have seen today and what you know about demand, what can you conclude the “Law of Supply” states? Place yourself in the business’ shoes…now think!!!

5. Sit-up supply market show?