Economics – 10/20/16
I. Bellwork
A. List 2 products that have an inelastic demand. Explain each.
B. List 2 products that have an elastic demand . Explain each.
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 – Flow Map
C. Total Revenue Test – Brace Map
V. Chapter-4-Review– Due Tuesday for Summative points
- Tueday Chapter 4 Test
VI. Classwork
- Page 103 Vocabulary (7)
- Page 109 2-8 Q&A
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