Unit 2 (Supply and Demand/FOREX/Balance of Payments)

Basics of Supply and Demand/Foreign Exchange Market/Balance of Payments

Demand
1. Define and Explain the Law of Demand
2. Understand what a Demand Schedule is and interpret data to derive an Individual and Market      Demand Curves
3. Explain and illustrate the inverse relationship between price and quantity demanded.
4. Graph the relationship between price and quantity demand on a set of axis
5. Identify and explain the variables (other than price) that shift the demand curve
6. Define, explain and intrepret the significance of Elasticity of Demand

 Powerpoint for the Basics of Demand
View Video on Law of DEMAND (another video on Law of Demand, #2. #3, #4, #5)
View Video on What Shifts the Demand Curve
View Video showing BOTH of these concepts

Homework
Online Quiz for Demand

Worksheet for Demand #1, #2

Online Tutorials

Quantity Demanded vs Demand

Law of Demand

Excellent Practice for DEMAND

Supply

1. Define and Explain the Law of Supply
2. Understand what a Supply Schedule is and interpret data to derive an Individual and Market      Supply Curves
3.. Explain and illustrate the inverse relationship between price and quantity supplied.
4  Graph the relationship between price and quantity supplied on a set of axis
5. Identify and explain the variables (other than price) that shift the supply  curve
6. Define, explain and intrepret the significance of Elasticity of Supply

Powerpoint for the Basics of Supply
View video on Law of Supply (another video on Law of Supply)
View video on What shifts the Supply Curve (another video on what shifts the Supply Curve)

Homework
Online Quiz for Supply
Worksheets for Supply #1

Online Tutorials

Quantity Supplied vs Supply
Law of Supply

Excellent Practice for SUPPLY

Supply and Demand Together

1. Define and illustrate equilibrium.
2. Distinguish between changes in supply and demand and between changes in quantity demanded and supplied.
3. Interpret and compute equilibrium price and quantity from graphs, mathematical equations, and/or data.
4. Predict the changes in prices and quantities given changes in demand and/or supply.
5. Illustrate and correctly label a supply and demand graph.
6. Show changes in supply/demand.
7. Show the effects of a price ceiling and price floors.
8. Show a change in demand (supply) versus a change in quantity demanded (quantity supplied).

Powerpoint for Increasing and Decreasing Demand

Demand Increasing and Decreasing---How and Why the Curves Shift.

Uploaded by Gene on WizIQ Tutorials

Powerpoint for Increasing and Decreasing Supply

Supply Increasing or Decreasing---How and why the curves shift

Uploaded by Gene on WizIQ Tutorials

View video on Supply and Demand together

View video on Disequlibrium in the Market

View video on Shifting Supply and Demand Curves

Worksheet---Determining if Demand or Supply is affected

Worksheet---Demand and Supply Together (CLICK HERE for PPT solutions for this worksheet)

Homework

Online Quiz for Demand and Supply Together

Worksheet for Supply and Demand Together #1

Online Tutorials

Supply and Demand Together Interactive--Excellent Practice

My Blog Entries on Supply/Demand Curve Shifts #1, #2, #3, #4, #5, #6, #7, #8, #9,  #10, #11

Additional Powerpoints that shift Demand or Supply Curves in all situations

Demand Increases due to positive consumer preferences, Increase in number of buyers, Increase in Consumer Expectations

Demand Decreases due to negative consumer preferences, Decrease in number of buyers, Decrease in Conumer Expectations

Supply Increases due to Decrease in Resource/Input prices

Supply Decreases due INCREASE in Resource/Input prices

Supply INCREASES when Business Taxes DECREASE

Supply DECREASES when Business Taxes INCREASE

Supply INCREASES when SUBSIDIES INCREASE

Supply DECREASES when SUBSIDIES DECREASE

Supply INCREASES when Government Regulations DECREASE

Supply DECREASES when Government Regulations INCREASE

Number of Suppliers INCREASES

Number of Suppliers DECREASES

Productivity INCREASES

Price Ceilings and Price Floors
1. Define and explain the effects of price ceilings and price supports.
2. Define and illustrate surpluses and shortages.
3. Define effects of surpluses and shortages on prices and quantities.
4. Know how to impose an effective price ceiling and how to interpret graphs.

Powerpoint for Price Ceilings.  Powerpoint for Price Floors
Video for Price Ceilings and Price Floor (For quick review HERE)

Price Ceilings Explained Step by Step

Uploaded by Gene on WizIQ Tutorials

PowerPoint for PRICE FLOOR

Price Floor as seen applied to an Agricultural Product

My blog entries on Price Ceilings #1, #2, #3, #4,
My blog entries on Price Floors #1, #2

Foreign Exchange Market (FOREX)

1. Describe how Exchange Rate Systems work and convert currency using current exchange rates
2. Describe the effects of Depreciating or Appreciating Currency Rates on a nation's imports and exports
3. Properly Graph and Label Supply and Demand curves for currencies in a single graph or in side-by-side graphs
4.  Understand the determinants that affect the Supply and/or Demand for a Currency in the FOREX.

Powerpoint for FOREX
View this videos on FOREX #1,  #2,  #3
View video on FOREX
Link to Currency Calculator

Graph of Demand and Supply in the Foreign Exchange Market

Uploaded by Gene on WizIQ Tutorials

Interest Rate effect in the FOREX

Interest Rate effect on the FOREX

Uploaded by Gene on WizIQ Tutorials

How to correctly state just about any AP FRQ covering  the FOREX

Homework
Online Quiz for Foreign Exchange Market
Worksheet for FOREX #1

Online Tutorials
Exchange Rates

Interactive Activities
FOREX Interactive

Extenended lesson on FOREX---"The Big Mac Index"
My Blog Entries on this topic  #1, #2, #3

Balance of Payments
Explanation of Balance of Payments

Powerpoint for Balance of Payments

Balance of Payments

Uploaded by Gene on WizIQ Tutorials

Online Tutorial
Balance of Payments Interactive
My Blog Entry on this Topic--Remittances,

Homework
ONLINE QUIZ FOR BALANCE OF PAYMENTS

UNIT TEST