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Ch.6 & 7 QQs

Ch.6 & 7 QQs. Mrs. Brooke Lubin Economics Bolton High School. Monday, Sept. 30 th , 2013. Due today: Ch.7 QQs AND all makeup work!!! BELL: Have your completed QQs and your Overview (with or without stamp) out on your desk for me to check. Check. Then, Ch.7 review presentation.

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Ch.6 & 7 QQs

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  1. Ch.6 & 7 QQs Mrs. Brooke Lubin Economics Bolton High School

  2. Monday, Sept. 30th, 2013 • Due today: Ch.7 QQs AND all makeup work!!! • BELL: Have your completed QQs and your Overview (with or without stamp) out on your desk for me to check. • Check. • Then, Ch.7 review presentation. • Chapter 7 QUIZ tomorrow!

  3. Wednesday, Sept. 25th, 2013 • All make up work due Monday, September 30th by 2pm. • Chapter 7 discussion • Chapter 7 overview-show me when completed so I can stamp it. • Tomorrow: “reading” quiz • Friday: Ch.7 QQs • Next week: review presentations & Ch.7 QUIZ

  4. Wednesday, Sept.18th, 2013 • Due today: Ch.6 overview-let me check for or stamp your completed overview • BELL: Make sure you’ve read Ch.6 for “reading” quiz. Maybe peruse your outline and vocabulary. (2 short videos) • Discuss Chapter 6 Prices and Decision Making-Do prices affect your decision making????????

  5. Ch.6 “reading” quiz • Write approximately a half page summary (around 4 sentences) about the chapter. • What did you learn? • What is the chapter about? • Use approximately 3-5 vocabulary words in context.

  6. Ch.6 “reading” quiz2 • What is the name of Ch.6? • “the price at which the number of units produced equals the number of units sold”? • Without prices, another system must be used to decide who gets what, what is that system called? • WHAT connects all markets in an economy? • “a situation in which the qty supplied is greater than the qty demanded at a given price”?

  7. Ch.6 “reading” quiz • “the price at which the number of units produced equals the number of units sold”? • Without prices, another system must be used to decide who gets what, what is that system called? • WHAT connects all markets in an economy? • “a situation in which the qty demanded is greater than the qty supplied at a given price”? • What is the name of Chapter 6?

  8. Thursday, February 21st, 2013 • Due today: Chapter 7 overview-READ, outline, and vocabulary • BELL: perfect competition video-one thing you learned that you didn’t know from reading Chapter 7-turn it in • Discuss Chapter 7 • Another video • Ch.7 QQs

  9. Ch.7 “reading” quiz • Name one of the 5 characteristics necessary for perfect competition to exist. • What is “a condition that causes a competitive market to fail”? • Many activities generate some kind of ________, or unintended side effect that either benefits or harms a third party not involved in the activity that caused it. • Name one of the economic functions of the government talked about in Section 3. • What is the name of Chapter 7?

  10. Ch.7 Sec.1 QQ • When firms agree to charge the same or similar prices for a product, this is known as… • A monopoly based on the absence of other sellers in a certain location is called… • Monopolistic competition is separated from pure competition by… • Oligopoly is a market structure with a great deal of… • A monopoly’s prices are determined by…

  11. Ch.7 Sec.2 QQ • The causes of market failure include… • Give an example of a public good. • What is the result of inadequate competition? • Positive and negative externalities are called market failures because… • Give an example of resource mobility.

  12. Ch.7 Sec.3 QQ • Which of the antitrust laws was enacted first? • The federal law that first outlawed price discrimination was the… • Public disclosure supports competition by… • What sort company would most likely be subject to government monopoly regulations? • The government takes part in the US economy to…

  13. Ch.6 Sec.1 Quick Quiz • What do the price system and rationing have in common? • The price system favors whom? • In the market economy, a high price is a signal for producers to produce… • In a market economy, a low price is a signal for producers to produce… • Economists think of prices as a “system” because…

  14. CH.6 Sec.2 Quick Quiz • In a competitive market, the adjustment process moves toward market… • If there is a shortage in a market, the price is likely to… • If there is a surplus in a market, the price is likely to… • Why do economists like competitive markets? • An economic model can be used to…

  15. Ch.6 Sec.3 QQ • Name an example of a price ceiling. • Price ceilings that are artificially low are likely to create… • Price floors that are artificially high are likely to create… • Why might a government interfere in a market economy by setting prices? • What is meant by the phrase “markets talk”?

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