There are two parts to today’s assignment.
- Complete the following questions–using graphs or other tools where needed–and submit them. Be clear in your labeling of the graphs and any changes if you use them:
- Explain what happens to the demand for hamburger buns when beef patties are at an all time high price.
- Paul Dunphy of Global Calgary predicts the rest of the month is rainy and overcast. What happens to the demand of sunglasses?
- A new tax is added to businesses making all things sugared: candy, cereal, pop, basically anything our boys buy up town at lunch. What will happen to the supply?
- Unusually good weather has occurred and our producers are getting record yields of their crops. What will happen to the supply of salad kits?
- Find a news article from the last year that you can use to demonstrate a change to supply and demand. Use the article to explain the following changes: supply, demand, quantity demanded, and price. You will post that in Flipgrid under Economics in Real Life Part 2. Be sure to share the link with me. I will open up video responses on this, as well, so you can respond to your peers if you see any items they aren’t clear on in their response.