Questions for Discussion:
Do you want and buy the same clothes/music you did 3 years ago?
What changed for you?
Questions You Will be Able to Answer at The End of Lesson:
What factors cause changes in demand in markets?
What factors cause changes in supply in markets?
How do supply and demand graphs shift based on changes in demand/supply? (page 86)
Additional Practice and Review (you will need to do some research on current events):
- In terms of supply and demand for gasoline/diesel powered vehicles, how do you anticipate the demand curve shifting?
- In terms of demand and supply for smartwatch market in which direction is the supply line moving
- On a small freehand graph illustrate your answers.