1. ECONOMICS: September 21
Warm-up: Using two graphs: graph an increase in quantity demanded on the first graph and an increase in D on the second graph
Learning Target #1 In order to understand the concept of D, I will explore the factors that cause a change in D. I will know I have it when, given various scenarios, I can accurately differentiate between a change in QD and a change in D on a D graph.
See 4-2 Student Lecture Guide (HO from earlier)
--conclude graphing a change in D
-D Curve Shifters -distinguishing between substitutes vs. complements Learning Target #2 In order to better understand consumer D, I will explore the concept of D elasticity. I will know I have it when I can explain elastic and inelastic D: (1) on a D graph; (2) by calculating by using the total revenue (expendi-tures) test; and (3) by analyzing the determinants of D elasticity. Begin 4-3 Lecture Guide (HO) --elastic D vs. inelastic D: definitions; total expenditures test; graphs Closure: Why is it important for businesses to be aware of the D elasticity for the product they are selling?
Assignment: read Chapter 4, Lesson 3