1. BUSINESS HIGH SCHOOL-ECONOMICS
Factors Affecting Demand
Elasticity of Demand
Demand
Unit 2
Marginal Utility
Microeconomics
Demand Schedule
Law of Demand
Demand Curve
Essential Learning Expectations:
Explain the relationship between price and demand.
Understand the foundations for the law of demand.
Discuss ways to illustrate demand.
Differentiate between demand and marginal utility.
Describe the reasons for change in the quantity demanded.
Develop an understanding of the total expenditures test.
List the determinants of demand elasticity.
Content Vocabulary:
Elasticity
Marginal utility
Diminishing marginal utility
Substitute
Complement
Inelastic
Unit elastic
Microeconomics