SSEMI3 The student will explain how markets, prices, and competition influence economic behavior. Concept Task Response Determinants of a. b. c. Demand (These are that Explain how the following outside factors that can shift the demand cause demand to shift curve: either to the left or to the right, while price a. Consumer Income Ex. Ex. Ex. stays the same.) b. Consumer Expectations c. Population d. Consumer Tastes and Advertising e. Price of Related Goods d. e. Ex. Ex. Shifts in the Demand p. 99 Curve Draw a supply and demand showing a shift to the right (increase) in demand and the impact on price and quantity. Draw a supply and demand graph showing a shift to the shift to the left (decrease) in demand and the impact on price and quantity. Determinants of Supply Explain how the following p. 120-123 (These are the outside can the supply curve: factors that increase or Effects of Rising Costs decrease the supply, (input costs) while the price of the b. Technology product stays the c. Subsidies Ex. Ex. Ex. same.) d. Taxes e. Future Expectations f. Number of Suppliers
SSEMI3 The student will explain how markets, prices, and competition influence economic behavior. Concept Task Response Determinants of Demand (These are that outside factors that cause demand to shift either to the left or to the right, while price stays the same.) Explain how the following can shift the demand curve: a. Consumer Income b. Consumer Expectations c. Population d. Consumer Tastes and Advertising e. Price of Related Goods a. b. c. Ex. Ex. Ex. d. e. Ex. Ex. Shifts in the Demand Curve Draw a supply and demand showing a shift to the right (increase) in demand and the impact on price and quantity. Draw a supply and demand graph showing a shift to the shift to the left (decrease) in demand and the impact on price and quantity. p. 99 Determinants of Supply (These are the outside factors that increase or decrease the supply, while the price of the product stays the same.) Explain how the following can the supply curve: Effects of Rising Costs (input costs) b. Technology c. Subsidies d. Taxes e. Future Expectations f. Number of Suppliers p. 120-123 Ex. Ex. Ex.
econ_review_midterm_10.31_10.31.docx