Economics – 10/21/15

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.  iLearn Quiz closes @ 8:00pm on Thursday

IV.  Discussion

• Elasticity Video
• Elasticity Examples & Another list

V.  Notebook Work

A.  Draw and label:

1. An inelastic demand curve
2. An elastic demand curve

B.  Elasticity Test

C.  Total Revenue Test – Brace Map

VI.  Exit Ticket

1. Explain 3 or more things you learned about elasticity.
2. What are you having difficulty understanding?

VI. Classwork: 

Page 103 Vocabulary (7)

Page 109  2-4 Q&A

Economics F2015