Supply and demand is tricky at the best of times. Normally in class we would run through several examples together, make some graphs together, and really riff on our ideas. It won’t be that simple here but we’ll try.
Two important notes:
-Office hours are your friend. For instance, tomorrow from 1-2 PM I’ll be available to help students in 1-on-1 or group settings live.
-Try all activities. The more you do the more chances I have to see what you get and what you don’t get.
Part 1: Recap of Jungle/Zoo
-Listen to my audio recording (3 minutes) [LOG IN TO BRSD]
Part 2: Textbook
Read pages 210-211.
Part 3: Video
Watch this video.
Part 4: Flipgrid
Access Flipgrid here: https://flipgrid.com/mcintosh99
Complete a short video answering the questions:
-What if the supply of a product went down? How would that affect price and demand? What might cause the supply of a product to drop?
-Why might demand for a product go up? For example, what role might marketing play in demand?
-What happens to a given supply or demand curve if one of the determinants of supply or demand change? Use real world examples.
Here’s a story for inspiration https://flipgrid.com/s/2cef0b2f0422
Your video responses will inform our next day of activities.