Monday, 5 May 2014

KWL on demand and supply


                   K
            What I know
                           W
          What I want to know
                          L
               What I learned
Write the information about what you know in this space
Write the information about what you want to know in this space.
After the completion of the lesson or unit, write the information that you have learnt in this space.
-          The definition of complement and how being complements will affect the prices of both goods.
-          Price affects demand indirectly.
-          When price increases/decreases, there will be a movement in the demand/supply curve, NOT a shift.
-          How large the extent of effect that will happen when prices of complements affect each other.
-          How price affects demand is shown.
-           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.
-          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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