Law of Demand

Law of Demand

By Mrs. Kramer

Multiple Choice

On a scale of 1-4 rate this class

• 4: This class is great!

• 3: This class is okay

• 2: This class could be better

• 1: NO

Multiple Choice

Solve the riddle: I am always given up in order to gain something else. What am I?

• Economics

• Opportunity Cost

• Budgeting

• Resources

Multiple Choice

Define Demand

• the total amount of a specific good or service that is available to consumers

• a condition or state in which economic forces are balanced.

• C

•  the amount of a good or service that consumers are willing to buy.

Open Ended

If the price of a good or service increases what will happen to the demand for

it?

​Complementary Goods

Draw

Draw complimentary goods

​Tastes

Income

Population

​Substitute Goods