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Essential Concepts

DEMAND  Amount of a good that buyers can afford and want to purchase at each possible price and 

over a period of time, while holding constant all other factors that could affect this amount.

Page 6      

WARNING:   Demand and quantity demanded are not the same concept.

 

SUPPLY  Quantity of a good that producers can and want to sell for all possible prices offered and over 

a period of time, while holding constant all other factors that could affect this amount.

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WARNING:   Supply and quantity supplied are not the same concept.

 

Using the reading and Intellipath use the above concepts to understand and be able to explain Law of Demand and Law of Supply, market shortage and excess demand,  market surplus and excess supply, and market equilibrium.

 

IP for Unit 1

Understand the determinants of the Demand for housing to explain shifts in housing demand

Understand the determinants of the Supply for housing to explain shifts in housing supply

Select four cities; collect housing price information; present the housing prices

Select a city or house; state the reasons; support your decision.

State two reasons why prices vary from location to location

Discuss the housing market.

: Explain 3–4 ways in which supply and demand affect the prices of the homes

Supply and Demand determine housing prices

List the factors that determine housing supply; change in these factors shift housing supply

List the factor that determine housing demand; change in these factors shift housing demand

 

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2–3 slides of your preferred city to relocate with your reasoning for this choice

•
1–2 slides: Explain at least 2 reasons why housing prices vary from city to city

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3–5 slides: Explain 3–4 ways in which supply and demand affect the prices of the homes

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3–5 slides: Include any supply and demand figures or calculations to support your reasoning

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Cite sources using APA style. 

Format:    place and state the list of main ideas and concepts.  Place and post the explanations, the discussions, the definitions and the citations in the note area below each slide.

Avoid writing an essay on a slide.

First page is title page with your name

Last pages present the reference list in APA format directly on the slide.

 

DB for Unit 1

Discuss markets and efficiency

Define free market. 

Define efficient market and efficiency

Define perfect market

Distinguish between “efficiency” and “fairness”

Format:   do not post a title section;  each messages has a title.   The main post should present the reference list for the information used in your posts.  Use citations for facts and statistics that you post

Post directly to the forum

Do not post your required message in an attachment

Do not post your required message as a link.

Post a minimum of three times during the unit;   I encourage you to post more than 3 and to respond to comments on your responses.   

Correct, amend, change… any message before the end the unit.   Address and clarify any criticism of your posts to the forum.