Equilibrium: Demand and Supply Understand how prices send signals and provide incentives to buyers and sellers Explain equilibrium in the marketplace Analyze.

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Equilibrium: Demand and Supply Understand how prices send signals and provide incentives to buyers and sellers Explain equilibrium in the marketplace Analyze the “In the Chips” scenario to see how the marketplace becomes smarter Create a supply and demand schedule/curve based on our own experience

Our Results… Period 2

Our Results… Period 7

Our Results… Period 8

=

Act… Use our data from yesterday to create a demand and supply schedule and demand and supply curve Neatly create a schedule, graph, plot the points and draw the lines

What if? 1.Individual buyers expect a HUGE increase in the use of computers over the next few years? 2.Many more businesses, or producers, create alternative computer chips for sale in the marketplace? 3.Both at the same time? Volunteers to show on board…

Floors, Ceilings, Shortage, Surplus What are they? Where are they? What do they mean? In the real world?

Homework… Complete the Demand and Supply Curve Shift sheet I will collect MONDAY for points