1. Pick-Up: Practicing Demand Changes

2. CNN

3. Practice showing demand changes
What are the reasons demand changes?
Your income
Your preferences
Price of competing good (substitutes)
Price of connected good (complements)
Number of buyers
What you think will happen to price

4. How do you show demand going up?

5. How do you show demand going down?

6. White Board Practice

7. What happens to the demand for pizza?
You get a raise at your job

8. What happens to the demand for pizza?
Your income goes down

9. What happens to the demand for pizza?
You win the lottery and become a millionaire

10. What happens to the demand for pizza?
A new report comes out saying eating pizza causes cancer

11. What happens to the demand for pizza?
Eating pizza becomes really popular after Miley Cyrus eats it

12. What happens to the demand for pizza?
The price of hamburgers goes down

13. What happens to the demand for pizza?
The price of Chinese food goes up

14. What happens to the demand for pizza?
The price of cheesy breadsticks goes down

15. What happens to the demand for pizza?
There is a population boom

16. What happens to the demand for pizza?
There is a war and many people die

17. What happens to the demand for pizza?
You think the price of pizza will go up next month

18. What happens to the demand for pizza?
You think Dominos will have a sale on pizza next month