Demand Practice Essential Skill: C-5 Demonstrate and Understanding of Concepts

Stand in the Middle of the Room  For each example:  Move to the left side of the room if the example shows Quantity Demand (Windows)  Move to the right side of the room if the example shows Demand (Door) Be able to explain how you know  For each example:  Move to the left side of the room if the example shows Quantity Demand (Windows)  Move to the right side of the room if the example shows Demand (Door) Be able to explain how you know

Quantity Demand or Demand?  Consumers Income Drops  Millions of Immigrants Enter the U.S.  Price of Jeeps Drops  Major Cities Add Inexpensive Bus Lines  Price of U.S. Auto Rises  Price of U.S. Autos Expected to Rise Soon  Families Look Forward to Summer Vacation  Consumers Income Drops  Millions of Immigrants Enter the U.S.  Price of Jeeps Drops  Major Cities Add Inexpensive Bus Lines  Price of U.S. Auto Rises  Price of U.S. Autos Expected to Rise Soon  Families Look Forward to Summer Vacation

Quantity Demand or Demand?  Holly gets a raise at work and decides that she will by more music downloads.  David notices that the price of coffee has increased, so he buys less coffee.  George decides not to buy new tires now since he expects tire prices to fall next month.  As the population ages, more people buy hearing aids.  James decides to buy more peanut butter as a result of price going down  Madeline does not need to buy diapers anymore for her three-year-old son.  Holly gets a raise at work and decides that she will by more music downloads.  David notices that the price of coffee has increased, so he buys less coffee.  George decides not to buy new tires now since he expects tire prices to fall next month.  As the population ages, more people buy hearing aids.  James decides to buy more peanut butter as a result of price going down  Madeline does not need to buy diapers anymore for her three-year-old son.

Factors that Shift the Demand Curve: Determinants TIRESTIRES TIRESTIRES

Practice  Pick one partner to work with or choose to work alone  Start with the packet titled “Demand and Its Shifters” and work through the examples  Complete the second packet titled “Shifts in Demand Worksheet”  We will review the answers at the end of class and I will collect your work to check  Make sure to read and follow the directions on each worksheet  Pick one partner to work with or choose to work alone  Start with the packet titled “Demand and Its Shifters” and work through the examples  Complete the second packet titled “Shifts in Demand Worksheet”  We will review the answers at the end of class and I will collect your work to check  Make sure to read and follow the directions on each worksheet

Video Review  Pick a clip! Both of these videos review the concept of demand and introduce supply in terms of the market  We will talk about supply over the next few days as well  Pick a clip! Both of these videos review the concept of demand and introduce supply in terms of the market  We will talk about supply over the next few days as well