Economics
Chapter 4 Name____________________________
Chapter
4 Demand, Why do you think the demand chapter precedes
the supply chapter? _____________________________________________________________________________
4(1) Group_______________________
4(2) Group
_____________________
4(3) Group
_____________________
Current Events
Group
________________________
4(1) Look at
picture on 79. Identify the Law of
Demand :
price down,
demand ______ ; price up, demand ____________
Read fast
fact (80) identify 3 of your rights as
an online shopper
a. _____________________________________________________________
b. ______________________________________________________________
c. _____________________________________________________________
4(2) Look at
the chart on p. 86. What is the
difference between a shift in the demand curve and a movement along a demand
curve?
__________________________________________________________________________________
Identify the
inferior good pictured on page 86. ____________________________________________
Look at the
picture (87) how did the expectations of a higher price effect demand?
____________________________________________________________________________________
Identify the
complementary goods pictured on page 88.______________________________________
Read the
economic profile on page 89., answer questions 1+ 2. OR #3.
______________________________________________________________________________________________________________________________________________________________________
4(3) What two entrepreneurial mistakes are
pictured on page 90?
______________________________________________________________________________________________________________________________________________________________________
What event
influence elections in India in 1998 (p.91)
Do you think a similar event could occur in the US? Explain
.______________________________________________________________________________________________________________________________________________________________________
Identify the
equation for determining elasticity of demand ( 92)
__________________________________________________________________________________
The
elasticity is different for the two products identified on p. 93. Why? __________________________________________________________________________________
How has car
advertising changed over time? Picture
on page 94.
______________________________________________________________________________________________________________________________________________________________________
Read the
table on page 95. Answer the question
_____________________________________________________________________________________________________________________________________________________________________
Read the
chart on page 96. What is the difference
in revenue with an item that has elastic demand and one that has inelastic
demand?
______________________________________________________________________________________________________________________________________________________________________
Read the
Case Study on page 97. Answer questions
1+2
_________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
Answer the
matching key terms #1-7
1.______ 2._____
3.____ 4._____ 5. _____ 6. _____ .7 _____
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