Transcript Ch.4 Quick Quizzes

Mrs. Brooke Lubin
Economics
Bolton High School
Completed comparison chart (from
board)?
 BELL: Ch.4 QQs
 Discussion from Ch.4 textbook ppt
 Thursday: Ch.4 review presentation
 Friday: Ch.4 QUIZ
 Monday: Ch.5 “reading” quiz
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5)
The law of demand states that…
The demand curve is always…
Buying only one drink instead of two drinks at
lunch time describes what concept?
Describe the demand curve.
What is the main difference between the
individual demand curve and the market
demand curve?
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What causes a change in the quantity
demanded for a product?
How does the demand curve show an
increase in demand?
How does the change in the price of a good
affect its complement?
What is an example of substitutes?
A change in the number of consumers can
cause…
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2)
3)
4)
5)
Total expenditures are determined by…
The relationship between the change in price and
total expenditures for an elastic demand curve
is…
If a consumer cannot postpone the purchase of a
product, demand tends to be…
A company decreases the price of a gallon of milk
by 10% and the company’s total revenues fall
significantly. What term best describes the
demand for milk?
Name two items that are demand elastic.
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Did YOU do the overview check assignment?
Complete chart on board.
Finish videos from Friday. And review Bell
questions from Friday.
Chapter 4 QQs
Chapter 4 text ppt
*review presentation Thursday. We are relying
on you for a thorough explanation.
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Due today: Ch.4&5 Overview
BELL: Answer the basic questions on the
following slide about demand and supply.
Check overview. Blank sheet of paper 1-10
Discuss BELL-basics.
Comparison chart-Demand and Supplycomplete by Tuesday according to the
following videos, discussion, text, etc.
Law of Demand and Law of Supply
**”reading” quiz at anytime in the next week
or so.
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The title of Ch.4 Sec.2?
Ch.4 Sec.3, A, 2 heading?
& 4, What are 2 things that cause a
“Change in Supply”?
Through 7, What are the 3 stages of
production?
“the chg in qty demanded bc of chg in price
that alters consumers’ real income”?
“decrease in satisfaction or usefulness from
having one more unit of the same
product”?
“a government payment to encourage or
protect a certain economic activity”?
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What is the name of Chapter 4? What are the names
of Sections 1, 2, & 3?
In your own words, what does the Law of Demand
state? From whose perspective is Demand?
What two components are discussed when
considering Demand (AND Supply)?
What is slope? What math concept is a “schedule” in
economics class? What is its purpose?
In your own words, what is a demand curve?
In what direction does a demand curve slope? And
why?
What is elasticity? Give an example of items with
elastic and inelastic demand.
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Along top: Demand & Supply
Down the left side:
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Relationship between $ and qty.
Slope direction
Slope (positive or negative)
Graph with labeled axis and schedule
Changes…
 Chg in qty.-factors affecting each and effect on graphs
 Chg in-factors affecting each and effect on graphs