Fundamentals of Pricing

EQ - How is price determined so an entrepreneur can make a profit

1. Activator - Partnership Activity: Lemonade Stand
1. Discussion
1. How does this activity demonstrate the laws of supply and demand?
2. What decisions were made using the laws of supply and demand?
3. Describe how you might improve your results.
4. Did you experience a surplus or deficit during the Lemonade Stand activity?  Explain.
5. How did you try to return to equilibrium?
2.  Muddy Points
3. Activator - Key Concept Check-in
4. The Profit Equation *PPT
1. Revenue
2. Expenses (Fixed/Variable)
5. Calculating Profit
6. The Supply and Demand Connection
7. Try It - Develop a Profit Equation
8. Making Connections
1. Answer all 3 LEQ's
2. Use your answers to explain how economic decisions are made.
9. Revisiting the Activator
1. TodaysMeet
10. Unit Exam Announcement