Chapter 4: Demand

This module will take a look at the role demand plays in the the market place. More specifically, it will look at how demand is used to determine prices, the effects of changing demand, and how demand influences the products that are produced in the market.

Subject and Grade Level
Economics
  • 12
Objectives
  • Understand the Law of Demand and how it applies to things you buy
  • Differentiate between the income effect and substitution effect
  • Differentiate between a change in Demand & a change in Q Demanded
  • Identify which factors will cause a shift in Demand
  • Determine what factors make products have inelastic and elastic demand
  • Understand how Demand is graphed using a demand schedule

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Last updated

Feb 1, 2019

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Alex

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