Inelastic goods - PowerPoint PPT Presentation

Supply and Demand

Supply and Demand. “You can’t always get what you want, but if you try sometimes, you just might find, you can get what you need.” – Mick Jagger. “Hey, I have a degree in Economics, too!”. What is Demand?. Question: -Would you buy a slice of pizza for $1? -What if the same slice cost $2?

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330 views • 21 slides

Warm-Up

Warm-Up. If the price of the following items were to increase/decrease significantly, would you buy more, less, or the about same amount? Why?. School lunch (decrease) Soda (increase) Nike Free Runs (decrease) Arrowhead water (increase) Laker tickets (decrease). 6 . Electricity (increase)

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312 views • 11 slides

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