UNIT: Supply (How Markets Work)
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Learning Targets for the Unit:
I CAN...explain the law of supply.
I CAN...interpret a supply schedule and a supply graph.
I CAN...examine the relationship between elasticity of supply and time.
I CAN...explain how firms decide how much labor to hire in order to produce a certain level of output.
I CAN...analyze the production costs of a firm.
I CAN...explain how a firm chooses to set output.
I CAN...identify the factors that a firm must consider before shutting down an unprofitable business.
I CAN...explain how factors such as input costs create changes in supply.
I CAN...identify ways that government can influence the supply of goods.
I CAN...analyze other factors that affect supply.
I CAN...explain how firms choose a location to produce goods.
Essential Question(s) for the Unit:
HOW DO SUPPLIERS DECIDE WHAT GOODS AND SERVICES TO OFFER?
What impacts supply?
How can a producer maximize profits?
What impacts shifts in supply?
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COLOR KEY: WEBSITE/REVIEW VIDEO LINK SUMMATIVE ASSESSMENT CLASS NOTES DUE DATE
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Date
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Assignment/Activity
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Description/Directions
(select above for unit folder with assignments)
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Due Date
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UNDERSTANDING SUPPLY
(Chapter 5 Section 1)
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1. Read Chapter 5 Section 1
2. Complete the table on pg. 109 as you read.
3. After reading complete #3-9 on pg. 115.
4. Law of Supply Practice wkst 5. Supply charts & graphs practice wkst SELECT HERE FOR SECTION 1 NOTES |
FRI
4/24
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COSTS OF PRODUCTION
(Chapter 5 Section 2)
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SELECT HERE FOR REVIEW VIDEO - Supply Curve
1. Read Chapter 5 Section 2
2. Complete the web on pg. 116 as you read.
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FRI
4/24
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CHANGES IN SUPPLY
(Chapter 5 Section 3)
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SELECT HERE FOR REVIEW VIDEO - Supply Curve Shifts
1. Read Chapter 5 Section 3
2. Complete the chart on pg. 123 as you read.
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FRI
4/24
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4/24
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Formative Assessment
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1. Take quiz for Sections 1-3
2. Correct and note accurate answers
3. Go over quiz with neighbor to determine why the correct answers are correct
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Vocabulary
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1. For all vocab words, create a picture or example that matches/helps you to remember or understand the definition
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TUES
4/28
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| 5/6 | TEST | 1. Vocab Test (No notes) 2. MC & SA Test (you can use all class work except formative quiz and textbook) | |
Daily Activities
Most activities/assignments listed here are explained & detailed in the chart above.
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APRIL 20 - 24 2015
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Wednesday (April 22)
1. Finish test corrections
2. Work time on Supply Reading Assignments
2. Work time on Supply Reading Assignments
Thursday (April 23)
1. Work time on Supply Reading Assignments due: Friday
Friday (April 24)
1. Formative Quiz on Supply
2. Correct quizes - with a partner, go over and correct answers
2. Correct quizes - with a partner, go over and correct answers
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APRIL 27 - May 1 2015
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Monday (April 27)
1. Go over correct answers in small groups
2. Vocabulary Assignment - for each word/definition, draw a picture or write a specific example to show understanding of the definition - due: Tues.
2. Vocabulary Assignment - for each word/definition, draw a picture or write a specific example to show understanding of the definition - due: Tues.
Tuesday (April 28)
1. Watch review video on Elasticity of Demand
2. Vocab - if done small group work
2. Vocab - if done small group work
Wednesday (April 29)
1. Go over law of supply in section 1 notes
2. Complete law of supply ANd supply charts and graphs practice worksheets
3. Go over wkst answsers for law of supply practice wkst
4. Go over elasticity of supply in section 1 notes
2. Complete law of supply ANd supply charts and graphs practice worksheets
3. Go over wkst answsers for law of supply practice wkst
4. Go over elasticity of supply in section 1 notes
Thursday (April 30)
1. Go over section 2 notes
Friday (May 1)
NO SCHOOL
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May 4 - May 8, 2015
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Monday (May 4)
1. Go over caluclating profit chart
2. Work on test review wkst
2. Work on test review wkst
Tuesday (May 5)
1. Go over section 3 notes
2. Do Section 3 wkst & go over answers
2. Do Section 3 wkst & go over answers
Wednesday (May 5)
1. TEST - M.C. Supply Unit
Thursday (May 6)
1. Quiz - Vocab
2. Work time on reading assignment for "Prices"
2. Work time on reading assignment for "Prices"
