Friday, September 16, 2011
An Overview of Demand
Students shall be able to
state the relationship between opportunity cost and demand,
state the law of demand,
recognize the difference between a change in demand and a change in quantity demanded,
describe price elasticity of demand, and
apply the doctrine of price elasticity to a particular good,
View the "Demand on Market Street" video.
View the demand schedule for homecoming tickets developed by students in 2001.
Students shall construct a demand curve using the data from the demand schedule.
Discuss the difference between a change in demand and a change in quantity demanded.
Assignment: Complete the "Intro to Demand" [Word file or PDF file] notes/worksheet and put it in the dropbox.
Monitor and adjust as needed. Be sure to make the distinction between demand and quantity demanded clear!
TEKS involved: 1B, 3A, 5A, 7A, 10A, 10B, 15A, 16A, 20A, 20B, 21A, 21B, 23A, 23B, 24A, 24B, 25A