Aim: Why do economists call the demand curve one of the main "tools" of their profession?
Bell Ringer: Journal 23 – Describe the difference between elastic demand and inelastic demand. P. 104
Objectives:
- Students will define supply, demand, quantity supplied, and quantity demanded; graphically illustrate situations that would cause changes in each, and demonstrate how the equilibrium price of a product is determined by the interaction of supply and demand in the market place.
Agenda:
1. Bell Ringer (10 min)
2. Profiles in Economics (p. 102) (10 min) - to be completed behind the NTG.
3. Complete Concept Map and Business Organization note-taking guide presentations. (rest of class)
4. Have students complete the note-taking guide as each group presents their designated topic
Home Learning:
1. Review NTG and Concept Map to review for the test.
2. Building Wealth pages 8 and 9
3. Read page 110-111 to prepare for tomorrow's test. (Change in Demand in particular)
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