Economics – 10/10/13

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 in order to determine demand elasticity or inelasticity.

III.  Discussion

IV.  Notebook Graphs (2)

  • Elasticity-Flow Map
  • Total Revenue Test – Brace Map

V.  Classwork:  

  • Page 109  5-8 Q&A

VI.  Chapter-4-Review– Due next week Friday for Summative points

  • Review materials on iLearn


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