1. ECONOMICS: February 4
Warm-up How would an increase in the price of Coca-Colas impact the quantity demanded for Coca-Colas? Show the result on a D graph. How does the fact that Coca-Cola is in direct competition with Pepsi-Cola help to explain your answer?
Learning Target In order to understand the concept of demand, I will explore two additional explanations for the law of demand as well as the factors that cause a change in demand. I will know I have it when, given various scenarios, I can accurately draw and differentiate between a change in quantity demanded and a change in demand on a demand graph. Ch. 4, Lesson 2 Student Lecture Guide (HO)
--D Video Demand Explained (Through 3:20) (this includes the income and substitution effects to help explain the Law of D) --graphing a change in D
-D Curve Shifters -distinguishing between substitutes vs. complements -application (using lapboards)
Assignment:
--read Ch. 4, Lesson 3