Crystal Clear mimetype vcalendar.pngEXCEL spreadhseet to explore / predict how a demand ‘curve’ might work.

MJMFoodie  video introducing demand:

Slideshow to prompt discussion / thought around the different variables that might move the demand curve. [IB students should know how this relates to the concept of ceteris paribus (look it up) and that changes in these variables are breaking the ceteris paribus assumption. IGCSE students need not worry too much about this.]

Link to original MS Powerpoint here.

If you need to review this, see the video on determinants of demand by jodiecongirl

These changes cause the entire demand curve to shift either to the left or the right.

MJMFoodie video on change in demand versus change in quantity demanded

Crystal Clear action run.pngCheck the difference between “movements along" and “shifts of” the demand curve by exploring these interactive examples: 

Changes to the Demand Curve at www.joehoy.com

Crystal Clear action run.pngYou need to be really clear that demand is different from quantity demanded. This interactive tutorial by www.reffonomics.com should emphasise this even more:

The Difference Between Quantity Demanded and Demand

Also, jodiecongirl gives an excellent summary on changes in demand and shifts of the demand curve:

Once you think you have understood the concepts introduced above, here are some activities to attempt on line to check and consolidate your understanding.

Crystal Clear action player play.pngEconomics Interactive Tutorial by Sam Baker at the University of South Carolina

Crystal Clear action player play.pngVisit this animation and explore it to answer the following questions:
http://www.bized.co.uk/learn/economics/markets/mechanism/interactive/demand1.swf

The diagram shows the amount consumers would like to purchase at a price of £5 (32) What happens in the following cases?

  • Price rises to 8
  • Price rises to 9
  • Price falls to 3
  • Price falls to 1

Explain why people may react in the way you have observed.

[Activity taken from http://www.bized.co.uk/learn/economics/markets/mechanism/interactive/part1.htm]