Reading Guide: 3 continued

Due Tuesday, 10/6
1.  Define supply.
2.  Explain the Law of Supply.  Contrast it to the Law of Demand that we have already discussed.
3.  Create your own example of how the Law of Supply functions in a real-life situation.
4.  List and explain each of the factors affecting the supply curve.






Due Wednesday, 10/7
1.  Define price floor.  Provide an example
2.  Define price ceiling.  Provide an example.
3.  Page 57- Study question #5