Economics – 3/19/13

I.  Bellwork Q&A:

  • List the 3 determinants of demand elasticity.
  • Provide 2 examples of an inelastic product/service. (Be specific)

II.  Objective:

  • Identify and analyze factors that influence demand elasticity.
  • Review and discuss concepts and principles relating to demand.
  • Integrate and evaluate multiple sources of information presented in diverse formats and media) in order to determine demand elasticity or inelasticity.

III.  Discussion

IV.  Notebook Graphs (2)

  1. Change in Quantity Demand
  2. Change in demand – Shift to right (increase)
    • Various factors-examples
    • Change in Demand – Shift to left (decrease)
      • Various factors-examples

V.  Classwork:  

  • Page 109  5-8 Q&A

VI. Chapter 4 Exam Tomorrow

  • Chapter-4-Review– Due tomorrow for Summative points
  • Review materials on iLearn


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