Giffin and Veblin goods
Unit 2: Supply, Demand, and Consumer Choice 1. Length: 3 Weeks Chapters: 3, 20, and 21 Activity: Pearl Exchange Assignment: PS #2 2.
Unit 2: Supply, Demand, and Consumer Choice. DEMAND DEFINED What is Demand? Demand is the different quantities of goods that consumers are willing and.
Unit 2: Supply, Demand, and Consumer Choice 1. VERY IMPORTANT COW! 2.
Unit 2: Supply, Demand, and Consumer Choice 1. Demand Review 1.What are the two key aspects of the definition of demand? 2.What is the Law of Demand?
How Markets Work! Supply and Demand Supply and Demand *Demand *Supply *Prices *Market Structures.
Chapter 4 Demand. Understanding Demand What is the law of demand? How do the substitution effect and income effect influence decisions? What is a demand.
Economics Chapter 4 - Demand. What Is the Law of Demand? The law of demand states that consumers buy more of a good when its price decreases and less.
Unit 2: Supply, Demand, and Consumer Choice