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Topic: Demand and Supply

Learning Outcomes

To learn about:

  • Demand, Supply, and Equilibrium in Markets for Goods and Services
  • Shifts in Demand and Supply for Goods and Services
  • Changes in Equilibrium Price and Quantity: The Four-Step Process
  • Price Ceilings and Price Floors

To-Do Before Class

Read: Ch. 3 Introduction to Demand and Supply 

Activities/Assignment 

  • Review week 3 slides and class notes 
  • Apply Your Knowledge

Ch. 3 Review Questions 

Economics in the Real World

Starbucks, Flush With Customers, Is Running Low on Ingredients

Discussion

  1. If Starbucks continues to experience shortages of certain items, what might happen to the prices of the drinks for which these are key ingredients?
  2. Using a supply and demand diagram, show what has happened to the supply of peach-flavored juice.
  3. (include instructions for students’ posts on the assignment here)

Due Date(s)

  • Add due dates or schedule

How will Assignments be Graded?

Add grading rubric or clear explanation of how assignment will be graded.

Resources