Objectives:
With this module students will learn about:
Standards:
College Board Microeconomics Content Area
II . The Nature and Functions of Product Markets
3 . Price and quantity controls
5 . Consumer surplus, producer surplus, and allocative efficiency
6 . Tax incidence and deadweight loss
Name of standards: Georgia Performance Standards
b. Explain and illustrate on a graph how price floors create surpluses and price ceilings create shortages.
With this module students will learn about:
- Consumer Surplus and Producer Surplus
- Price Ceilings w/ indication of Shortages and Deadweight Loss
- Price Floor w/ indication of Surpluses and Deadweight Loss
Standards:
College Board Microeconomics Content Area
II . The Nature and Functions of Product Markets
3 . Price and quantity controls
5 . Consumer surplus, producer surplus, and allocative efficiency
6 . Tax incidence and deadweight loss
Name of standards: Georgia Performance Standards
b. Explain and illustrate on a graph how price floors create surpluses and price ceilings create shortages.
Web based activities for this Module:
- Watch the following videos before class:
Non-Web based activities for this Module:
Additional Resources for this Module:
- Complete your workbook sections: MB U2L4A17 – A21. Follow the Edmodo calendar for the due dates.
- Read Chapter 18, 29, and 35 (Pg. 682-692) of your textbook - there will be a Reading Quizzes, you may use your notes. Follow the Edmodo Calendar for the due dates.
- Complete the Elasticity HW assignment and Enrichment Assignment (on Edmodo)
- Complete practice graphs that will be distributed in class.
Additional Resources for this Module: