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Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
Minimum wage mon042514
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Minimum wage mon042514

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  • 1. Bellringer (White Boards) Today’s objective: identify direct and indirect effects of price floors. 1. Are you currently employed? 2. What do you think the current minimum wage is in Arizona? 3. Name 3 jobs you could work right now as a high school student? 04/28/14
  • 2. Price Ceiling – In your notes Price Ceiling – a legal maximum price (limit) that may be charged for a certain good or service.
  • 3. Price floor – In your notes Price floor– a legal minimum price - goods or services may not be sold below this price.
  • 4. Notes – take out your price ceiling notes and continue here… A common example of a price floor is minimum wage… There are generally two types of people looking for jobs. 1. Skilled person – (educated / experienced) 2. Unskilled person – (little to no experience)
  • 5. Price Floor Price floors are more common than price ceilings. When might low prices be a problem for a farmer? Jobs after school?
  • 6. • Imagine Congressman Grijalva is considering raising the federal minimum wage next month. • Write a formal business letter to Congressman Grijalva using the provided handout as a guide. • In three paragraphs support your argument if you are for or against raising minimum wage and why. Washington, D.C. Office: 1511 Longworth HOB Washington, DC 20515 ph (202) 225-2435 fax (202) 225-1541
  • 7. • Washington, D.C. Office: 1511 Longworth HOB Washington, DC 20515 ph (202) 225-2435 fax (202) 225-1541

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