Characterize how the market forces of supply and demand determine prices in a free market system.
Discuss how the concept of elasticity is used to predict market behavior of businesses and households.
What did you learn? Why is it important? How do the Economics concepts we just covered impact the economy, you and your family, your friends and your employer?
WRITING TO LEARN:
Select the top ten (10) most important ideas / concepts you learned in chapters 3 & 19 of your textbook.
NOTE: Choose five from each chapter.
Number your list and write a three to four sentence explanation of why each idea / concept is important to you and how it affects your life.