Economics – 5/06/2016

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

• Critical Thinking 4-2
• Elasticity Video
• Elasticity Examples & Another list

IV.  Chapter 4.1 & 4.2 iLearn Quiz Closes Monday at 12:30 pm

V.  Notebook Work

A.  Draw and label:

• An inelastic demand curve
• An elastic demand curve

B.  Elasticity Test – Flow Map

C.  Total Revenue Test – Brace Map

VI.  Classwork: 

• Page 103 Vocabulary (7)
• Page 109  2-4 Q&A

VII.  Chapter-4-Review– Due Wednesday for Summative points

• Wednesday Chapter 4 Test

 

Economics W2016