Supply and Demand, and Pricing

 EQ - How do supply and demand impact pricing strategies for entrepreneurs?

1. Activator - Team Vocabulary Review
1. Needs, Wants, Factors of Production, Scarcity, Opportunity Cost, Supply, Demand, Equilibrium, Surplus, Deficit
2. Muddy Points
3. Activator: Supply and Demand Game
4. Vocabulary Review - Opportunity Cost and Scarcity 
5. TPS - Focus on Economics (p. 49)
6. Intro to the S & D curves
1. Demand 
2. Supply
3. Equilibrium
4. Surplus v. Deficit
7. Knowledge Check (Question #1 p. 54)

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

1. Activator - How much should a McDouble really cost?
2. Defining Key Terms
3. The effect of Price on Supply and Demand Curves
4. Supply and Demand Joining Forces
5. Critical Thinking
6. Muddy Points