Demand AS Economics. Aims and Objectives Aim: Understand how PPB curves can shift LevelObjectives: E-D Define demand C-B Calculate market demand B-A Analyse.

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Demand AS Economics

Aims and Objectives Aim: Understand how PPB curves can shift LevelObjectives: E-D Define demand C-B Calculate market demand B-A Analyse the effects of a change in price on demand. A* Evaluate different factors which may influence demand and price

Starter Define demand. List 3 things that you currently demand.

Demand & Effective Demand Demand: The amount that consumers are willing and able to buy at each given price level. Effective Demand: Demand supported by the ability to pay for a good or service.

A Demand Curve Price Qty Demanded P2 P1 0 Q1Q2 D Remember your P’s and Q’s!

A Demand Curve Price Qty Demanded P2 P1 0 Q1Q2 D As prices rise the level demanded will fall. Inverse relationship As prices rise the level demanded will fall. Inverse relationship

Calculating Market Demand Price Qty Demanded 50p 0 2 D Price Qty Demanded 50p 0 3 D Price Qty Demanded 50p 0 5 D Individual Demand 1 Individual Demand 2 Market Demand

Demand Curve Worksheet 1.Construct a demand curve to show how much she would purchase at each price level. 2.If she bought 40 songs on the basis of the demand curve what price level would you expect her to pay for each song? 3.If there is a rise in the price of drinks she plans to provide for her friends at the party her remaining income is limited. She will now buy 20% less at each given price level. Plot a demand curve to show this.

A Demand Curve Price Qty Demanded P2 P1 0 Q1Q2 D When price rises there is a movement along the demand curve. Contraction or Extension When price rises there is a movement along the demand curve. Contraction or Extension P3 Q3 Contraction in Demand Extension in Demand

Demand & Prices at Pride Park ‘Buy in advance and fans will get cheaper prices - but what if a sizeable group decides to start a game of chicken with the club and hold back from buying? As match day gets closer, ticket prices should move higher, but if demand for a game is well below the stadium's capacity will prices drop back?’