Intro to Supply and Demand and the Impact on Pricing Decisions

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

1. Activator: The Hudsucker Proxy (video)
1. Why does a business owner lower the prices of the products that they are not selling quickly?
2. When would a business owner have to raise prices?
3. What does a price increase communicate to customers about the product?
4. What is the opportunity cost evidenced in the video?
5. How do the events shown in the video impact profitability?
6. What would you do differently?
2. Debriefing
3. Supply and Demand - econedlink (Ice Cream Cones)
1. Law of Demand
1. Demand Schedule
2. Charting Demand
2. Law of Supply
1. Supply Schedule
2. Charting Supply
4. AP – How did the Hula Hoop scene indicated the Law of Demand - econedlink
5. Muddy Point Questionnaire – What makes sense?  What doesn’t?
6. Article Distribution
1. Review Active Reading Strategies
2. Read for Understanding
3. Reflection Assignment - Schoology