Economics – 3/16/15
I. Bellwork Q&A:
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. Objectives:
- 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 Work
A. Draw and label:
- An inelastic demand curve
- An elastic demand curve
B. Elasticity Test
C. Total Revenue Test – Brace Map
V. Classwork:
- Page 103 Vocabulary (7)
- Page 109 2-4 Q&A
VI. Chapter-4-Review– Due Wednesday for Summative points
- Wednesday Chapter 4 Test
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