When you have completed Chapter 3, you will be able to:
- Explain microeconomics and the concept of consumer demand.
- Identify factors that affect supply and its relationship to demand.
- Make a copy of this Google Document, rename it Study Guide 3-2-(Your Initials), and move it into your Chapter 3 folder.
- Read Lesson 3-2 on pages 66-71.
- As you read, utilize this presentation to help you answer the questions in your study guide.
- Micro vs Macro Economics
- Create a new Google Drawing titled Micro vs Macro-(your initials) and move it into your Chapter 3 folder.
- Create a drawing that is a visual representation of macroeconomics and microeconomics.
- Supply and Demand
- Create a new Google Sheets spreadsheet titled Supply and Demand-(your initials) and move it into your Chapter 3 folder.
- Use the following data to create supply and demand curves for cameras. When you are finished, you should have three charts, a Supply Curve chart, Demand Curve chart, and a market price curve chart that shows both the supply and demand curves to find the market price.
Quantity Demanded Price Quantity Supplied 100 $70 750 200 $60 550 400 $50 300 700 $40 150