Slide 1Change in Supply Schedule Economist use the word to supply to refer to the relationship between price & quantity suppliedEconomist use the word to supply to refer…
Slide 1Today is your lucky day! You just won $1000!!! Write down at least 5 things that you will buy with your money. ~WARM UP~ WARM UP Slide 2 What does DEMAND mean?!?!!?…
Slide 1123 Go To Section: LAW OF DEMAND Price Demand As the price of a product increases, consumers buy less of a product ~~~~~~~~~~~~~~~~~ As the price of a product decreases,…
Slide 1Mrs. Post – CHS Adapted from Prentice Hall Presentation Software Slide 2 LEARNING OBJECTIVES: What is the law of supply? What are supply schedules and supply…
Slide 1 Understanding Supply (5-1) What is the law of supply? What are supply schedules and supply curves? What is elasticity of supply? What factors affect elasticity of…
Slide 1 Chapter 5 Supply Slide 2 Understanding Supply What is the law of supply? What are supply schedules and supply curves? What is elasticity of supply? What factors affect…
Slide 1 Understanding Supply What is the law of supply? What are supply schedules and supply curves? What is elasticity of supply? What factors affect elasticity of supply?…
Slide 1 Law of Supply MICROECONOMICS SSEMI2 Students will explain how the Law of Supply, prices, and profit work to determine production and distribution in an economy Slide…