K
What I know
|
W
What I want to know
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L
What I learned
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Write the information about
what you know in this space
|
Write the information about
what you want to know in this space.
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After the completion of the
lesson or unit, write the information that you have learnt in this space.
|
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The definition of complement and how being
complements will affect the prices of both goods.
-
Price
affects demand indirectly.
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When
price increases/decreases, there will be a movement in the demand/supply
curve, NOT a shift.
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How large the extent of effect that will
happen when prices of complements affect each other.
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How price affects demand is shown.
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I
learned that being complements, one good will be affected by the other as the
price, demand and supply of a good is affected.
-
A change in the price leading to a change
in the quantity demanded is shown by the movement along the demand curve,
assuming ceteris paribus.
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Demand curve is affected by price and non-price
factors.
- Demand and supply can affect the movement/ shift in curves differently.
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Monday, 5 May 2014
KWL on demand and supply
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