This document discusses elastic and inelastic demand and how price may influence demand. It outlines an activity where students will read articles at different stations and identify whether the market described has elastic or inelastic demand. They will also graph how demand or supply is changing. The document concludes with closure questions asking students to identify if common items have elastic or inelastic demand.

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Define the following (in your own words):
1. Elastic demand
2. Inelastic demand
3. How might price influence either one?
Bellringer – half sheet04/11/14

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Review
• Video (video from Investopedia on Elasticity)

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Elastic? / Inelastic?

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Elastic? / Inelastic?

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Elastic? / Inelastic?

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Elastic? / Inelastic?

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Elastic? / Inelastic?

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4 Stations Articles
• Each of you will go to one of the four stations.
• Read each article at the station
• For each article - on a piece of paper label the
market and tell me:
• Is the product Elastic / Inelastic
• Graph what is happening to demand /
supply
1. ORANGE 2. BLUE
3. RED 4. GREEN

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Closure Questions
Identify if these items have an elastic or inelastic
demand
4. Insulin
5. Limo
6. Fresh produce
7. Toilet paper
8. University /
College
9. Prescription
Drugs
10. Water
11. Salpointe H.S.
12. Gasoline
13. Iphones
14. Prom Tickets
15. Pencils
16. College text
books
17. Soda
18. Bicycle