1. Good Day! DRAW A LINE SEPARATING TODAY & YESTERDAY 1) Write: Date: 01/21/10 , Topic: Demand 2) On the next line, write “ Opener #9 ” and then: 1) Plot your mood, reflect in 1 sent . 2) Respond to the opener by writing at least 2 sentences about : Your opinions/thoughts OR/AND Questions sparked by the clip OR/AND Summary of the clip OR/AND Other things going on in the news. Announcements: None Intro Music: Untitled

2. Work #20 , Title “ Econ Ad Shareout ” Pick 1 thing from your opener to share with your partner. 1) Each of you sign your name in your partner’s workbook under 1) to verified you’ve shared.

3. Agenda 1) Econ Ad Shareout 2) Intro to demand + supply End Goal, you will be able to… 1) What influences demand + supply Reminder 1) Find & complete your 4 news pods

4. Notes #9a , Title: “ Demand ” 1) Law of Demand : Price lower, buy more of it. Price is higher, buy less of it ( not about wanting, about really buying )

5. 2) Market : Area the item is likely sold (geo, dem, class based)

6. Mr. Chiang does not focus on graphing. Graphing is a tool to understand economics, graphing is not economics.

7. D emand Curve : Demand shown as a line graph, dots should how much you buy at that dot (goes down ) (s UP ply curve: is a “ S ” and goes up ) (It usually isn’t a curve or a straight line)

11. Individual Demand : How many 1 person will buy at different prices Copy the Individual Demand Table and Chart on the Board Sample, don’t copy the sample.

12. Market Demand : How many the whole shopping area will buy at different prices Copy the Individual Demand Table and Chart on the Board Sample, don’t copy the sample.

13. Change in Demand Quantity : Finding different dots up + down on a line ( line does not move ). Nothing changed but the price ( ceteris paribus ) Indicates how much you’d buy at that price. Change in Demand (Overall) : Moving a line left or line right. The SITUATION has changed to make it + - popular at all pricing points.

14. Change in Demand Quantity :

15. Change in Overall Demand :

16. Change in Overall Demand :

17. Notes #9a , Title: “ Demand ” 3) Utility : Benefit gained (makes you better, but not necessarily pleasant)

18. Notes #9a , Title: “ Demand ” 4) Marginal Utility : Benefit continuing an action 1+ more time (at some point diminished return)

21. Notes #9a , Title: “ Demand ” 5) Things that Change Demand (Whole) at Every Price Point : a) Income Effect : Financial status makes us buy more or less ( more or less credit/loans ).

22. 5) Things that Change Demand (Whole) at Every Price Point : a) Income Effect : Financial status makes us buy more or less ( more or less credit/loans ).

23. b) Change in Consumer Taste : Taste make us buy more or less.

24. b) Change in Consumer Taste : Taste make us buy more or less.

25. b) Change in Consumer Taste : Taste make us buy more or less.

26. c) Changes in Expectations : Belief something is to happen that makes us buy more or less.

27. c) Changes in Expectations : Belief something is to happen that makes us buy more or less.

28. d) Substitutes : Pricing for alternatives can make us buy more or less.

29. d) Substitutes : Pricing for alternatives can make us buy more or less.

30. e) Compliments : Changes to things we buy together. If one changes, affects if we buy more or less.

31. e) Compliments : Changes to things we buy together. If one changes, affects if we buy more or less.

32. Pricing of Complimentary Goods are Often Coordinated

33. Notes #9a , Title: “ Demand ” 6) Marketing : Study of consumer demand 7) Advertising : Persuading shoppers of the utility of the product

34. Story of Us

35. Homework: 1) Bring items for Marketplace 2) Pick and listen to your 4 news podcast by next Monday. Workbook Check: If your name is called, drop off your workbook with Mr. Chiang ( if requested, points lost if your workbook is not turned in )