Slide 1 NON PRICE FACTORS THAT CAN SHIFT AN ENTIRE SUPPLY CURVE Determinants of Supply Slide 2 Cost of Resources Cost of resources = cost of production. Prices of the resources…

Slide 1 Bell Ringer 12/4/08 Identify each as Elastic or Inelastic AND give and example of each 1. 2. Slide 2 Law of Supply and the Supply Curve Chapter 7 Section 3 Slide…

Slide 1Perfect Competition 1 Slide 2 Review 1.Identify the 4 Market Structures 2.Identify the characteristics of perfect competition 3.Why is a perfectly competitive firm…

Slide 1+ Supply and Demand Why are some goods produced and not others? Slide 2 + What is Supply? The amount of a product for sale at all possible prices. Slide 3 + Law of…

Slide 1 Chapter 3 1 Slide 2  Opportunity cost of production – Total economic cost of producing a good or service; The value of the production of other goods sacrificed…

Slide 1 Understanding ‘Money Supply Expansion” and “Run on a Bank” (New Version) – By Prof. Simply Simple TM Sometime back, I had covered a lesson on the working…