Economics – 10/14/14

I. Bellwork

There are some products/items people may continue to purchase regardless of the increase in price. List two of the products and explain why this may occur for each product.

II. Objective:

Identify factors that influence the size of a change in the quantity demanded (elasticity)
Integrate and evaluate multiple sources of information presented in diverse formats in order to determine demand elasticity or inelasticity.

III. Discussion