ECON kickoff March 21-22

You’ll need the Supply/Demand curves handout (half-sheet) to complete today’s kickoff.

For the first scenario, we’ll examine would could happen to gas prices if a war with Iran were to break out and disrupt oil supplies.   We’ll also look at a scenario where U.S. consumers enact a conservation plan to reduce oil consumption by 20%.

Next, we’ll look at a supply/demand curves for scenarios that you create.  When you finish you should have 4 supply/demand curves and 4 supply/demand schedules.

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