Archive for April, 2012

• Want to see Dave Ramsey in Grand Rapids on May 5th? Use the code: GR72HOUR this weekend to order your general admission tickets! Click here to order your tickets!
• Discuss the applications of economics in everyday life. It is about scarcity & choices we have to make as well as opportunity cost given up as a result of our decisions. It is not only about the money.
• Watch episode 1 from Deadliest Catch this season. After watching the first 20-30 minutes, respond to the following in 3/4-1 page: Imagine you are a crab boat captain. Would you fish for Red or Blue Crab? Explain your decision and how it hypothetically turned out out. USE and UNDERLINE the following terms in your writing: RISK, REWARD, CHOICE, SUPPLY, MONEY
• This season’s DEADLIEST CATCH crews have their fishing quota slashed by almost half bringing home a cold economic reality — how will they make enough money to support their families and literally keep their businesses afloat? With the change in quota, the captains are faced with choices in strategy and tactics — who will go for the more elusive blue crab? Which boat will risk changing pots and gear in order to reap higher profits?

• Answer questions from the supply & demand study guide
• Collected supply & demand study guide
• Take Supply, Demand, & Price Test

• Test for Chapter 6 will be about 45 questions on Wednesday
• Discussion about our final exam in June that I was working on Friday when I wasn’t in class.
• Review of the 6 articles from Friday and what you should have done to the original supply & demand curve.
• Shared a couple more articles from the Detroit News today that we can understand better by using supply & demand curves.
• Refinery convincing homeowners to sell
• Buick sheds its image as brand for the elderly
• Royal Oak shop wins Sunday episode of ‘cupcake wars’
• Discussion of 6.6 of the text
• Used minimum wage as an example to teach the impact of a price floor.
• Used rent control as an example of a price ceiling.

• Setting the equilibrium price for a doughnut.
• Excess demand at a high price so price has to be lowered to get the market into supply & demand into balance.
• Reviewed & collected word search and demand/supply practice assignment that was given on Wednesday.
• Discussed Chapter 6 and showed examples and application of situations from real life.
• Eastern Market & Marshalls examples
• Showed how real-life examples are applied with supply & demand curves

Happy Tax Freedom Day! The average American works from January 1-April 17 to pay their total tax liability for the year.

• Tax Day is also today!
• Cold snap hits juice grapes article
• Example of a supply curve shift to the left.
• Supply practice worksheet
• Work on individually and then go over as a class. Collected 4th hour only, 5th & 6th will be collected on Wednesday.
• Supply & Demand graphs worksheet
• Draw a demand or supply curve shift or movement along based upon an article shared in class or a video clip played in class. Collected 4th hour only, 5th & 6th will be collected after we complete it on Wednesday. IF ABSENT FOR THIS YOU STILL NEED TO TURN IN THE SUPPLY PRACTICE PART OF THE WORKSHEET DESCRIBED ABOVE.
• Easter eggs may fall to new regs article