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Demand in Economics: Curve Movements vs. Shifts

Learn the essentials of demand economics - differences between curve movements and shifts, determinants of demand, and their economic consequences. Practice with real-world examples and graphing exercises.

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Demand in Economics: Curve Movements vs. Shifts

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  1. Demand 2/11 BW Take out you supply and demand notes- answer the following: What causes a movement along the demand curve? What is the difference between Qdand demand?

  2. Demand Shifters! 2/12 BW Good AFTERNOON! Take out your Supply and Demand notes and answer the following questions: Explain the difference between a movement along a curve and a shift of the curve. Draw a movement along a curve and draw a shift of the curve.

  3. HR HISTRIONIC

  4. Objective Given the “kookie” demand schedule, we will be able to Identify and explain determinants of demand Construct and read a demand curve Recognize situations that result in a shift in demand and determine the direction and economic consequences of the shift

  5. TODAY  We are going to review… practice what we learned last week about demand We will be learning about the demand determinants Tomorrow- Supply!! Wednesday- Practice! Thursday- Quiz… test… whatever you want to call it Friday…. I reward you with a day off, good work.

  6. Graphing Qd (Kookies) Qd (5) 2. Label the Qd with your group (tally the amount you would purchase) 3. Graph the demand schedule P ($) Qd (2) Qd (3) Qd (4) Qd (6) .20 .40 .60 .80 1.00 Draw a demand schedule;

  7. D2: Population Changes Qd (Kookies) Qd (5) P ($) Qd (2) Qd (3) Qd (4) Qd (6) .20 .40 .60 .80 1.00 What happens to Qd (2) when there are now an additional 100,000 people in the world? Label the Qd at each price & graph

  8. D3: Income Changes Qd (Kookies) Qd (5) P ($) Qd (2) Qd (3) Qd (4) Qd (6) What happens to Qd (3) when your income decreases? Label the Qd at each price & graph .20 .40 .60 .80 1.00

  9. D4: Tastes and Preferences Qd (Kookies) Qd (5) P ($) Qd (2) Qd (3) Qd (4) Qd (6) .20 .40 .60 .80 1.00 What happens to Qd (4) when the price of candy (SUBSTITUTE) goes down to .10 cents/day? Label the Qd at each price & graph

  10. D5: Complementary Goods Qd (Kookies) Qd (5) P ($) Qd (2) Qd (3) Qd (4) Qd (6) .20 .40 .60 .80 1.00 What happens to Qd (5) when the price of milk (complement) goes down to $1/gallon (you loveeee cookies and milk)? Label the Qd at each price & graph

  11. D6: Expectations Qd (Kookies) Qd (5) P ($) Qd (2) Qd (3) Qd (4) Qd (6) .20 .40 .60 .80 1.00 What happens to Qd (6) when you expect the P of Kookies to go down to .5cents in the next week? (what happens to Qd NOW) Label the Qd at each price & graph

  12. 2/13/13 Bell Work  Hello there… take out your Supply and Demand notes and answer the following questions please! What do the demand determinants (shifters) do to the demand curve? What happens to price when the demand determinants (shifters) change? What are the demand determinants (shifters) ?

  13. Demand Determinant Practice What is happening to the demand for canned tuna?? Complete questions 1-4 (explain why demand changes… what is happening to price… EXPLAIN EACH STEP like in our notes ) Complete graph shifts for each question (on the back)

  14. More Practice Complete the PINK highlighted parts of the “Demand” worksheet… (1st page and demand problem set #1 and 2) Put answers onto separate sheet of paper

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