Economics

Unit 1 | Topic 3.1 | Fundamentals of Demand

How does the law of demand affect the quantity demanded?

Objectives

• Explain the law of demand.

• Describe how the substitution effect and the income effect influence decisions.

• Create a demand schedule for an individual and a market.

• Interpret a demand graph using demand schedules.

Procedure

1. Review the Aim and notes from your initial text read.

2. Participate in the corresponding lesson topic presentation, revising notes.

3. Watch corresponding video(s); further revising notes.

4. Complete teacher instructed assignments.

Extension

• Prepare for your next class session by reading the next topic section in your text, recording alphanumeric/Cornell notes.

• Complete the next topic's Interactive Reading Notepad.