Name ________________________________________ BLOCK __________ Date ____________
Chapter 8.2 PowerPoint Handout
1. State the Law of Demand:
2. What is a demand schedule?
3. What is a demand curve?
4. List the factors that can affect the demand for a specific product or service:
5. Draw the graphs and label what is happening for each of the 6 examples.
6. What is the difference between a change in demand and a change in the quantity demanded?
7. What is elasticity?
8. What is price elasticity of demand?
9. Describe goods with an elastic demand.
10. Describe goods with an inelastic demand.
11. Draw a graph with 2 demand curves—one elastic and one inelastic.
12. What are the factors that determine demand elasticity?
Practice with Determinants: DEMAND
1. Currently, gas and fuel prices have been rising steadily for months. How has the drastic increase in fuel
affected the demand curve for Ford F150 trucks? Show the shift in demand and name the determinant.
*Name the determinant:
____________________________
2. Assuming that Nike Shoes and ADIDAS shoes are suitable substitutes, what would happen to the
demand curve for Nike Shoes in the following price scenario: Nike Shoes @ $158.00; ADIDAS @
$175.00
*Name the determinant:
____________________________
3. If the Wall Street Journal published an article w/ the headline “Poultry Farmers Detect Infectious Avian
Bird Flu,” what would happen to the demand curve for chicken?
*Name the determinant:
____________________________
4. On February 15th, what would have happened to the demand for Valentine’s Day chocolates, teddy
bears, and conversation hearts at CVS? Show the shift in the demand curve below and list the
determinant.
*Name the determinant:
____________________________
5. Unemployment is at an all-time high in Rhode Island. Meanwhile, 7 stores such as Pottery Barn Kids,
have closed in the Providence Place Mall, known for its high-end stores like Nordstrom, J.Crew, and
more. What has cause the change in the demand for high-end goods from these shops? Show the shift
in the demand curve below and list the determinant.
*Name the determinant:
____________________________
6. The New Orleans Saints football team just won their first Superbowl title in franchise history and an
ESPN.com poll showed that 74% of fans were rooting for the Saints. As a result, what will happen to
the demand curve for New Orleans Saints merchandise like t-shirts and jerseys throughout the
country? Show the shift in the demand curve below and list the determinant.
*Name the determinant:
____________________________