This document covers the basic principles of supply and demand, including the law of demand, demand curves, factors that cause a change in demand, normal and inferior goods, and the law of supply. It also discusses how supply curves can shift due to changes in factors like production costs, and provides examples of how technological innovations or taxes could lead the supply curve for a good like electric cars or soft drinks to shift. The document appears to be notes for a lesson on microeconomics concepts related to supply and demand analysis.

1. sUPPLY & dEMAND
Part1. Use the space bellow to take notes on the basic principles of
demand.
Demand:
Law of Demand:
Demand Schedule:
Demand Curve:
Part 2. Create a demand curve for a product based on the demand
schedule shown at the LCD. Label each and every variable
Part 3.
What made the demand curve move downward?
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Define change in demand:
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Define change in quantity demand:
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Write down a possible substitution effect scenario based on
the demand curve above.
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What are the 6 factors that can cause change in
demand?
1. 4
2. 5.
3. 6.
Define normal goods: ____________________________________
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Give example: __________________________________________
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Define Inferior Goods: ___________________________________
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Give example:
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You just win the lottery. Draw a demand curve (on your
original curve)to show where demand will shift. Label it,
more income”
You were just told that your product was made with toxic
materials. Draw a new demand curve (on your original
curve) to show where demand will shift. Label it “Product
Rejection”

2. Part 4. Define the terms below and follow the instructions listed after
the vocabulary,
Supply:
Law of Supply:
Using the previous graph, plot your supply curve. Use the data
shown on the LCD.
Part 5. Respond to the following prompts.
1. Differentiate between change in quantity supplied and change
in supply.
2. What happens to supply when production cost increases?
3. What happens to supply curve when change in supply occur?
4. List the 6 factors that causes a change in supply:
1. 4
2. 5.
3. 6.
5. Anew battery for electric cars has been introduced. It will allow
a car to go 100 miles farther than the current batteries .
a. Where will the supply curve for electric car shift?
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b. Does this indicate an increase or decrease in supply?
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6. The government has placed a lgtax purchase of all high sugar
soft drinks.
a. Where will the supply curve for high sugar soft drink shift?
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b. Does this indicate increase or decrease in supply?
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Keeping Track
Date Score
Quiz #1
Quiz #2
Seatwork #1
Seatwork #2
Worksheet #1
Worksheet #2
Assignment #1
Assignment #2
Long Quiz:
Summative Exam:
Periodical Exam:
PT #1
PT #2
PT #3
PT#4