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1 de 49
 
Daily Warm-Up ,[object Object]
What are we doing today? ,[object Object],[object Object],[object Object],[object Object]
Supply & Demand <- Look it’s a puppy :)
 
Ceteris Paribus ,[object Object],[object Object],[object Object]
 
 
The law of demand! ,[object Object],[object Object]
The law of supply! ,[object Object],[object Object]
Draw Your Own Supply/Demand Diagram ,[object Object],[object Object],[object Object],[object Object]
 
What happens? ,[object Object],[object Object],[object Object],[object Object]
The Frozen Price Game
 
Rules ,[object Object],[object Object],[object Object],[object Object]
(Mr. Benson)
Round One ,[object Object],[object Object],[object Object],[object Object]
Cost/Benefit Analysis ,[object Object],[object Object],[object Object],[object Object],[object Object]
 
First-Come, First-Served Allocation   First-Come, First-Served Allocation Why I Want the Ice Benefit of the Ice Cost of the Ice Keep groceries from spoiling Keep sodas cool Keep prom corsage fresh Keep fishing bait cold Keep caviar from spoiling
First-Come, First-Served Allocation   First-Come, First-Served Allocation Why I Want the Ice Benefit of the Ice Cost of the Ice Keep groceries from spoiling $8 $1 Keep sodas cool $2 $1 Keep prom corsage fresh $9 $5 Keep fishing bait cold $6 $5 Keep caviar from spoiling $26 $16
Round One ,[object Object]
Round Two Quantity supplied increases as price increases. Why?
[object Object],[object Object]
 
Elasticity ,[object Object],[object Object],[object Object]
Elastic Goods
Inelastic Goods
 
Oil Elasticity
[object Object],[object Object],[object Object]
Round Two: Price Allocation <- (Also, a puppy)
Round Two ,[object Object],[object Object],[object Object],[object Object]
Round Two ,[object Object]
Round Two ,[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
[object Object],[object Object],[object Object],[object Object]
Why I Want the Ice Benefit of the Ice Cost of the Ice Keep wedding cake from melting Keep penguins cool Keep caviar from spoiling Keep wine cellar cool Keep donated kidney cold Make ice packs for fevers Cold drinks for yacht party Keep meat from spoiling Keep donated blood cool
Why I Want the Ice Benefit of the Ice Cost of the Ice Keep wedding cake from melting $30 $9 Keep penguins cool $14 $9 Keep caviar from spoiling $26 $9 Keep wine cellar cool $10 $9 Keep donated kidney cold $100 $9 Make ice packs for fevers $16 $9 Cold drinks for yacht party $40 $9 Keep meat from spoiling $20 $9 Keep donated blood cool $50 $9
[object Object]
What did we/are we going to learn? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
What did we/are we going to learn? ,[object Object],[object Object],[object Object],[object Object],[object Object]
Something to think about ,[object Object],[object Object],[object Object]
“ funny”
Predictably Irrational
Water Scarcity
Pop-Quiz Time! ,[object Object],[object Object],[object Object],[object Object]

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Unit 2, Chapters 4-6

  • 1.  
  • 2.
  • 3.
  • 4. Supply & Demand <- Look it’s a puppy :)
  • 5.  
  • 6.
  • 7.  
  • 8.  
  • 9.
  • 10.
  • 11.
  • 12.  
  • 13.
  • 15.  
  • 16.
  • 18.
  • 19.
  • 20.  
  • 21. First-Come, First-Served Allocation First-Come, First-Served Allocation Why I Want the Ice Benefit of the Ice Cost of the Ice Keep groceries from spoiling Keep sodas cool Keep prom corsage fresh Keep fishing bait cold Keep caviar from spoiling
  • 22. First-Come, First-Served Allocation First-Come, First-Served Allocation Why I Want the Ice Benefit of the Ice Cost of the Ice Keep groceries from spoiling $8 $1 Keep sodas cool $2 $1 Keep prom corsage fresh $9 $5 Keep fishing bait cold $6 $5 Keep caviar from spoiling $26 $16
  • 23.
  • 24. Round Two Quantity supplied increases as price increases. Why?
  • 25.
  • 26.  
  • 27.
  • 30.  
  • 32.
  • 33. Round Two: Price Allocation <- (Also, a puppy)
  • 34.
  • 35.
  • 36.
  • 37.
  • 38.
  • 39.
  • 40. Why I Want the Ice Benefit of the Ice Cost of the Ice Keep wedding cake from melting Keep penguins cool Keep caviar from spoiling Keep wine cellar cool Keep donated kidney cold Make ice packs for fevers Cold drinks for yacht party Keep meat from spoiling Keep donated blood cool
  • 41. Why I Want the Ice Benefit of the Ice Cost of the Ice Keep wedding cake from melting $30 $9 Keep penguins cool $14 $9 Keep caviar from spoiling $26 $9 Keep wine cellar cool $10 $9 Keep donated kidney cold $100 $9 Make ice packs for fevers $16 $9 Cold drinks for yacht party $40 $9 Keep meat from spoiling $20 $9 Keep donated blood cool $50 $9
  • 42.
  • 43.
  • 44.
  • 45.
  • 49.