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ECONOMICS: February 7 Warm-up Why is it important for businesses to be aware of the D elasticity for the product they are selling? Conclude Ch. 4, Lesson 3 Lecture Guide (HO) Atlanta Falcons concessions --elasticity determinants (textbook and discussion) Learning Target: In order to understand the concept of supply (S), I will analyze the purpose behind the profit motive and the causes of S elasticity. I will know I have it when I can accurately depict elastic S and inelastic S on a S graph and can explain the determinants of S elasticity. Ch. 5, Lesson 1 (Day 1) Student Lecture Guide (HO) --basic terminology --S schedule and S curve --changes in quantity supplied due to a change in price --profit motive --elastic vs. inelastic S definitions --S elasticity graphs --S elasticity determinants Read Ch. 5, Lesson 1 (from e-textbook)
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