Modeling with Supply and Demand
Learning Target:
I can use supply and demand to model economic systems.
Do Now What is a model?
Modeling with Supply and Demand
Readings
As you read, lookup any words you don't know and add them to your
notes.
These questions should be answered on Microsoft Word or Google Docs
and then shared with me on Canvas.
Macroeconomics for Today
Key Terms
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Model
Ceteris Paribus
Correlation
Causation
When you finish, think like an economist:
1. How can we explain the relationship between the Super Bowl
winner and changes in the stock market?
2. Greeting card sales are another tried and true indicator,
according to a vice president of American Greetings. Before a
recession sets in, sales of higher-priced greeting cards rise. It
seems that people substitute the cards for gifts, and since
there is no gift, the card must be fancier. Do you think this
is correlation or causation?