EPF: Module 4

Open Ended

Quick review: what are some factors that shift demand and what are some factors that shift supply?

Open Ended

Supply a definition for EITHER surplus/shortage in your own words

Open Ended

Where would a shortage occur on the graph, and where would the surplus occur? (Ie, where is it located?)

Match

Match the following:

• Demand goes down

• Demand goes up

• Supply goes down

• The supply goes up

The demand curve shifts to the right

The demand curve shifts to the left

Supply Curve shifts to the right

Supply curve shifts to the left

• The demand curve shifts to the right

• The demand curve shifts to the left

• Supply Curve shifts to the right

• Supply curve shifts to the left

Open Ended

In your own words, explain the Substitution Effect OR the Complementary Effect.

Open Ended

Reading Log: Briefly describe what you read today. Focus on the main idea or moment. At least 3-4 sentences.

Open Ended

What happens when scarcity collides with competing values like fairness, freedom, and equality?

Open Ended

Which of these methods best resembled the method by which your group allocated your M's?

Open Ended

Who benefitted from price being the allocation method when considering the Taylor Swift Ticketmaster debacle? How?