Today we will learn about demand. Use the table of contents to the right to help you navigate this page.
Learning Target
Analyze the ways in which incentives influence what is produced and distributed in a market system.
Evaluate the extent to which competition among sellers and among buyers exists in specific markets.
Describe the consequences of competition in specific markets.
Criteria for Success
I will be able to use ideas related to demand to analyze economic problems.
I will be able to demonstrate this understanding using a graph of the aforementioned model.
Assignments
Read: Krugman (Modules 5 and 46).
Watch: The video lecture for today's topic (linked above)
Optional: The videos linked below.
This video is very good, if you are still having trouble understanding the difference between DEMAND and QUANTITY DEMANDED
Khan Academy
Formative Assessment (MCQ's): You will take a formal assessment during class. The assessment will consist of multiple-choice questions and one FRQ from an old AP Exam. Doing the problem of the day and ensuring that you understand it will help you prepare for today's formative assessment and help to ensure that you understand the concepts in this lesson.
Problem of the Day: Define demand and explain three reasons that the demand curve is downward sloping. Then use a diagram to explain the effect of an increase in the price of bicycles in the market for scooters.