Economics – 9/25/19

I.   Bellwork:

Write a paragraph (3-6 sentences) about a product or service you tried to purchase that was difficult to obtain due to high demand.  Explain why demand for the product or service was so high and how you were able or unable to obtain the product or service

II.   Objective:

• Determine what creates demand, identify factors which influence quantity demand, and construct economic models are used to represent demand.
• Write  a narrative to share a real or imagined experiences or events using effective technique, well-chosen details, and well-structured event sequences to explain the impact of demand
• Determine the meaning of words and phrases as they are used in a text

III   Discussion& Notebook –  Demand Pages 91-95

A.  What is Microeconomics?

B.  Create a Brace Map in your Notebook:

• Conditions necessary for Demand (3)

C.  Notebook:  Copy- Demand Schedule & Demand Curve – Figure 4.1

D.  View Video: Law of Demand –

E.  Copy Arrows below in your Notebook:

F.  View Video:   Diminishing Marginal Utility

IV.   Classwork

• Copy Demand Schedule & Graph – Demand Curve for CD’s and construct a demand curve
• Page 91 Vocabulary 11

Economics F2019