In class we continued talking about the supply/demand curve and market equilibrium. We also discussed the two acronyms that can be used to remember changes in demand and changes in supply.
We can use the word SEPTIC (Substitutes, Expectations, Population, Tastes, Income, Compliments) to remember changes in demand.
We can use the word TIES (Technology, Inputs, Expectations, Suppliers) to remember changes in supply.
The homework is listed below and the notes are attached, as well as the practice quiz with answer key.
Notes - Supply/Demand cont.
Practice Quiz - Modules 5-7
Answer Key - Practice Quiz - Modules 5-7
HW - Study for Quiz #2
Read Module #10
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