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WACHusett Regional H.S. ECONomics
"Inflating students' economic utility for the long-run!"
Microeconomics - Unit 3: Market Inefficiency: Surplus, Quotas and Taxation
MICRO UNIT 3 KEY STUDY GUIDE TERMS & CONCEPTS
price controls - floors & ceilings
product shortage
product surplus
producer surplus
consumer surplus
allocative efficiency
deadweight loss (loss in social welfare)
tax burden - (incidence)
tax wedge
tax revenue
consumer tax price
producer net gain
subsidy
cost of subsidy
quantity controls (quota limits)
quota rent
domestic supply and demand
foreign supply and demand
PowerPoints & Notes
Assigned Videos
Assigned Work
MJMFOODIE VIDEOS
Unit Concepts In Media
Extra Help Resources
Excise Tax Practice Video - 2.11A
Graphing a Subsidy- Welker's Econ Classroom
Excise Tax Graphing - Welker's Econ Classroom
12 video set walkthru on EVERY situation!
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