Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts

Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
Economics Demand Introduction: Law of Demand, Demand Schedules, Curves, & Shifts
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This handout series is the story of a high school student entrepreneur who starts out with no income but invents a product for sale. It is presented as Economics as its own language, because definitions are very precise. It includes definitions for demand, assets, disposable income, the law of demand, and wants vs. needs. Continuing the story, the student decides to become a monk and live on a mountaintop in simplicity--thus shifting his or her taste/preferences and thus his or her demand. Each factor that shifts the demand curve is described as an event in the life of the high school student. After each event, students are put into pairs to come up with more examples. I have each pair write one on the board and we talk through the ideas to make sure they are recording accurate examples on their handouts. Demand Lesson 2 (sold separately) continues the lesson with graphic handouts for drawing more demand schedules and curves, shifts in demand, the substitution effect, the income effect, and more practice identifying shifts in demand. I developed this series (continued for Supply) for use with standard and honors Economics courses for seniors.
Total Pages
4 pages plus key
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Teaching Duration
2 hours
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