Friday, September 16, 2011

An Overview of Demand

OBJECTIVE 

Students shall be able to

  1. state the relationship between opportunity cost and demand,

  2. state the law of demand,

  3. recognize the difference between a change in demand and a change in quantity demanded,

  4. describe price elasticity of demand, and

  5. apply the doctrine of price elasticity to a particular good,

 

ACTIVITIES

  1. View the "Demand on Market Street" video.

  2. View the demand schedule for homecoming tickets developed by students in 2001.

  3. Students shall construct a demand curve using the data from the demand schedule. 

  4. 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.

 

ASSESSMENT PROCEDURES

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