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SUPPLY 
(Part 2)
CHAT REVIEW 
You will be presented with 
4 questions. 
Turn to your “table buddy” and 
chat about the answers to these 
questions for 1-2 minutes each.
ONE. 
Why do you think 
producers are willing to 
supply more goods at high 
prices than at low prices?
TWO. If a region 
experiences flooding, 
what industries 
might be affected? 
What happens to 
the amount of goods 
supplied by those 
industries?
THREE. 
All the supplies & 
resources needed to 
produce a finished good, 
including the equipment 
and labor. 
When the price of “inputs” 
to production rise, producers 
supply fewer goods overall. 
Why do you think this true?
FOUR. 
Name as many inputs in 
the production of this shoe 
as you can:
RECALL: SHIFTS IN SUPPLY 
ONLY changes in price result in movement 
along the supply curve. Changes in other 
factors can actually SHIFT the supply curve. 
• Change in natural conditions 
! 
• Change in technology 
! 
• Change government policies 
! 
• Price of a key input to production 
changes
PRACTICE QUESTION #1: 
Terry’s T-Shirt CO. decides to lower 
the price of T-Shirts by 1$. Which 
graph below represents this situation? 
S2 P1 
S1 
P2 
A. B.
PRACTICE QUESTION #2: 
The price of 
fertilizer becomes 
more expensive. 
How does this 
affect the supply 
curve for apples? 
P (of apples) QS (of apples)
PRACTICE QUESTION #3: 
The government 
increases taxes on 
paper, an input in 
the production of 
books. How does 
this affect the supply 
curve for books? 
P (of books) 
QS (of books)
PRACTICE QUESTION #4: 
products) 
The invention of the 
cotton gin means 
cotton that cotton pickers 
of (P no longer have to 
QS (of cotton products) 
clean cotton by hand. 
How does this affect 
the supply curve for 
cotton products?
CURRENT EVENTS: 
HOMEPLUS LEAVING KOREA? 
Read the following article, and draw a supply graph 
that represents the situation. 
! 
See if you can identify which factor is causing the shift.
CURRENT EVENTS: 
HOMEPLUS SCANDAL 
Read the following article, and draw a demand graph 
that represents the situation. 
! 
See if you can identify which factor is causing the shift.
POLL RESULTS: 
Question: what are you struggling with the most in the 
supply & demand unit? 
• Not reading carefully: 7 
• Supply: 2 
• Shift vs. movement: 1 
• Normal/inferior goods: 1
How to successfully answer supply and demand problems: 
READING CAREFULLY 
& 
REMEMBERING WHAT 
CAUSES MOVEMENT 
AND SHIFTS
How to successfully answer supply and demand problems: 
TASK #1: 
Complete the “reading carefully” worksheet & discuss 
TASK #2: 
Complete the “resource sheet” worksheet to help you prepare for 
a quiz next tuesday/wednesday.

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Supply 2

  • 2. CHAT REVIEW You will be presented with 4 questions. Turn to your “table buddy” and chat about the answers to these questions for 1-2 minutes each.
  • 3. ONE. Why do you think producers are willing to supply more goods at high prices than at low prices?
  • 4. TWO. If a region experiences flooding, what industries might be affected? What happens to the amount of goods supplied by those industries?
  • 5. THREE. All the supplies & resources needed to produce a finished good, including the equipment and labor. When the price of “inputs” to production rise, producers supply fewer goods overall. Why do you think this true?
  • 6. FOUR. Name as many inputs in the production of this shoe as you can:
  • 7. RECALL: SHIFTS IN SUPPLY ONLY changes in price result in movement along the supply curve. Changes in other factors can actually SHIFT the supply curve. • Change in natural conditions ! • Change in technology ! • Change government policies ! • Price of a key input to production changes
  • 8. PRACTICE QUESTION #1: Terry’s T-Shirt CO. decides to lower the price of T-Shirts by 1$. Which graph below represents this situation? S2 P1 S1 P2 A. B.
  • 9. PRACTICE QUESTION #2: The price of fertilizer becomes more expensive. How does this affect the supply curve for apples? P (of apples) QS (of apples)
  • 10. PRACTICE QUESTION #3: The government increases taxes on paper, an input in the production of books. How does this affect the supply curve for books? P (of books) QS (of books)
  • 11. PRACTICE QUESTION #4: products) The invention of the cotton gin means cotton that cotton pickers of (P no longer have to QS (of cotton products) clean cotton by hand. How does this affect the supply curve for cotton products?
  • 12. CURRENT EVENTS: HOMEPLUS LEAVING KOREA? Read the following article, and draw a supply graph that represents the situation. ! See if you can identify which factor is causing the shift.
  • 13.
  • 14. CURRENT EVENTS: HOMEPLUS SCANDAL Read the following article, and draw a demand graph that represents the situation. ! See if you can identify which factor is causing the shift.
  • 15.
  • 16. POLL RESULTS: Question: what are you struggling with the most in the supply & demand unit? • Not reading carefully: 7 • Supply: 2 • Shift vs. movement: 1 • Normal/inferior goods: 1
  • 17. How to successfully answer supply and demand problems: READING CAREFULLY & REMEMBERING WHAT CAUSES MOVEMENT AND SHIFTS
  • 18. How to successfully answer supply and demand problems: TASK #1: Complete the “reading carefully” worksheet & discuss TASK #2: Complete the “resource sheet” worksheet to help you prepare for a quiz next tuesday/wednesday.