Thursday, February 18, 2016

Thursday, 18 February

2nd period homework: complete the chart on supply and demand in the oil industry using the article linked below.

We will begin class by listening to a story about the value and price of gold; and we will discuss how the story helps demonstrate the ideas we have been studying: Law of Demand.

Then we will examine recent news stories about the price of oil and the economy of Venezuela to further apply our knowledge and examine real world implications of Demand.

Graphs of the price of gold.

NEW VOCABULARY WORDS: Federal Reserve; Inflation; Money Supply

Questions for the day:
Is gold unique? Unusual?
Why is gold considered a good investment?

 Why does the price of oil vary? Is gas the same as oil?

 Are low oil prices good? Bad?

 What substitutes and and compliments are there for oil? (for gold?)

 Predictions?

 Questions?

 How does the Law of Demand apply to money?


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