Thursday, January 19th, 2006

Introducing the Price Rationing System


Students shall be able to

  1. state the relationship between opportunity cost and demand,

  2. state the law of demand,

  3. define "price rationing," and

  4. explore the wisdom of alternatives to the price rationing system.

Students shall be able to

  1. derive the law of demand from raw data,

  2. construct a demand schedule,

  3. construct a demand curve,

  4. apply the law of demand to a given situation, and

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



  1. Discuss the "Opportunity Costs and Demand" exercise from Tuesday.

  2. Extend and reapply.

  3. Students shall prepare a script to use Friday to conduct a survey of K.O. seniors to determine the level of demand for prom tickets.

Assignment: Prepare a script that your group will used to survey another class about their demand for prom tickets.



Monitor and adjust as needed. Check student group scripts and collect for use tomorrow.

TEKS involved: 1B, 3A, 5A, 7A, 10A, 10B, 15A, 16A, 20A, 20B, 21A, 21B, 23A, 23B, 24A, 24B, 25A