Economics – 3/08/11

I. Bellwork:

A. Page 110 Analyzing the Impact-

iPod 1-2 Q&A

Based on the chart, what percentage of MP3 player market share does iPod have?

II. Objective:

Review Chapter 4: Demand, its determinants & Elasticity

III. Classwork:

4-1 Explain demand, the law of demand, the relationship between the demand schedule and demand curve, and how the law of diminishing marginal utility relates to the demand curve.

4-2 Explain a change in quantity demand and what causes it as well as a change in demand and the determinants that contribute to a change in demand.

4-3 Explain how each of the following is determined and provide examples (not about the CDs in the book) demand elasticity, inelastic demand, and unit elastic demand.

IV. Chapter 4 – Review-See iLearn

https://blog.dearbornschools.org/farhoua/2010/10/20/economics-102110/chapter-4-review-sheet/

V. Test tomorrow

Economics W2011