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  • IB Business HL
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    • April 20 - May 1, 2020
    • May 4 - May 15, 2020
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  • IB Economics SL
    • Micro
      • Ch #01 Foundations of economics
      • Ch #02 Demand and supply
      • Ch #03 Makt equilibrium & efficiency
      • Ch #04 Elasticities
      • Ch #05 Gov't Intervention
      • Ch #06 Market failure
    • Macro
      • Ch #11 Measuring national economic performance
      • Ch #12 Aggregate demand and supply
      • Ch #13 Macro Obj: Low unemployment
      • Ch #14 Macro Obj: Low inflation
      • Ch #15 Macro Obj: Economic growth
      • Ch #16 Equity in income distribution
      • Ch #17 Fiscal Policy
      • Ch #18 Monetary policy
      • Ch #19 Supply side policies
    • International
      • Ch #20 International trade
      • Ch #21 Protectionism
      • Ch #22 Exchange rates
      • Ch #23 Balance of payments
      • Ch #24 Economic integration
    • Development
      • Ch #26 Economic development
      • Ch #27 Domestic and international factors
      • Ch #28 Foreign investment, aid, trade & debt
      • Ch #29 The balance between markets and intervention
    • IB Economics SL IA
  • Sales and Marketing
    • September
      • Wk #01 Introduction
      • Wk #02 Ch 01 Marketing is all around us
      • Wk #03 Ch 02 The marketing plan
      • Wk #04 Ch 2/DECA paper
    • October
      • Wk #05 Ch 03 Political and economic analysis / DECA paper section II
      • Wk #06 Ch 04 Global analysis
      • Wk #07 DECA paper section III
      • Wk #08 Ch 05 The free enterprise system / DECA paper section IV
      • Wk #09 Ch 06 Legal and ethical issues / DECA paper section IV
    • November
      • Wk #10 DECA paper Section IV
      • Wk #11 DECA paper Section V
      • Wk #12 Ch 12 Selling overview / DECA paper Section V
      • Wk #13 Ch 13 Beginning the sales process / DECA paper Executive summary
    • December
      • Wk #14 Ch 14 Presenting the product / DECA paper 1st draft
      • Wk #15 Ch 15 Closing the sale / DECA Area test
      • Wk #16 DECA paper final
    • January
      • Wk #17 DECA paper finalize / Area competition
      • Wk #18 Final review
      • Wk #19 Finals
      • Wk #20 DECA presentation
    • February
      • Wk #21 DECA presentation
      • Wk #22 DECA presentation
      • Wk #23 Sales presentation
      • Wk #24 DECA State preparation
    • March
    • April
    • April 20 - May 1, 2020
    • May 4 - May 8, 2020
    • May 11 - May 15, 2020
    • May 18 - May 22, 2020
    • May 26 - June 16, 2020
  • DECA
    • Samples
    • Business Plan Resources
    • Operations Research Resources
  • Contact
  • Ch #05 Gov't Intervention test
  • Home
  • IB Business HL
    • Opening week
    • 5.7 Crisis mgmt VW, TSLA, TM
    • IBBM HL IA
    • Financial
    • DECA Event Prep
    • Finals Prep Semester 1
    • IB Exam prep
    • DECA State prep
    • Production
    • April 20 - May 1, 2020
    • May 4 - May 15, 2020
    • May 18 - May 29, 2020
    • June 1 - June 12, 2020
  • IB Economics SL
    • Micro
      • Ch #01 Foundations of economics
      • Ch #02 Demand and supply
      • Ch #03 Makt equilibrium & efficiency
      • Ch #04 Elasticities
      • Ch #05 Gov't Intervention
      • Ch #06 Market failure
    • Macro
      • Ch #11 Measuring national economic performance
      • Ch #12 Aggregate demand and supply
      • Ch #13 Macro Obj: Low unemployment
      • Ch #14 Macro Obj: Low inflation
      • Ch #15 Macro Obj: Economic growth
      • Ch #16 Equity in income distribution
      • Ch #17 Fiscal Policy
      • Ch #18 Monetary policy
      • Ch #19 Supply side policies
    • International
      • Ch #20 International trade
      • Ch #21 Protectionism
      • Ch #22 Exchange rates
      • Ch #23 Balance of payments
      • Ch #24 Economic integration
    • Development
      • Ch #26 Economic development
      • Ch #27 Domestic and international factors
      • Ch #28 Foreign investment, aid, trade & debt
      • Ch #29 The balance between markets and intervention
    • IB Economics SL IA
  • Sales and Marketing
    • September
      • Wk #01 Introduction
      • Wk #02 Ch 01 Marketing is all around us
      • Wk #03 Ch 02 The marketing plan
      • Wk #04 Ch 2/DECA paper
    • October
      • Wk #05 Ch 03 Political and economic analysis / DECA paper section II
      • Wk #06 Ch 04 Global analysis
      • Wk #07 DECA paper section III
      • Wk #08 Ch 05 The free enterprise system / DECA paper section IV
      • Wk #09 Ch 06 Legal and ethical issues / DECA paper section IV
    • November
      • Wk #10 DECA paper Section IV
      • Wk #11 DECA paper Section V
      • Wk #12 Ch 12 Selling overview / DECA paper Section V
      • Wk #13 Ch 13 Beginning the sales process / DECA paper Executive summary
    • December
      • Wk #14 Ch 14 Presenting the product / DECA paper 1st draft
      • Wk #15 Ch 15 Closing the sale / DECA Area test
      • Wk #16 DECA paper final
    • January
      • Wk #17 DECA paper finalize / Area competition
      • Wk #18 Final review
      • Wk #19 Finals
      • Wk #20 DECA presentation
    • February
      • Wk #21 DECA presentation
      • Wk #22 DECA presentation
      • Wk #23 Sales presentation
      • Wk #24 DECA State preparation
    • March
    • April
    • April 20 - May 1, 2020
    • May 4 - May 8, 2020
    • May 11 - May 15, 2020
    • May 18 - May 22, 2020
    • May 26 - June 16, 2020
  • DECA
    • Samples
    • Business Plan Resources
    • Operations Research Resources
  • Contact
  • Ch #05 Gov't Intervention test
"Fill the plane 2020!"

IB Economics SL

Ch. #04 Elasticities

Saturday, September 28, 2019 – Monday, October 7, 2019

09/28-29 Weekend
Homework:
  • Read Ch 4

09/30 Monday
In class:
  • Introduce main ideas
  • Review graphic organizers
  • Student work period to read chapter and outline learning objectives

Homework:
  • These worksheets are practice
    • PED and the total revenue test practice activity
      • Answers
    • PED, XED, YED & PES activity
      • ​Answers
  • ​Article: Harvard Business Review - A review of PED

10/1 Tuesday (Period 5)
In class:
  • Going forward, due to our lost instructional time in our new schedule, it is my expectation is that you will have read the chapter or viewed the PPT in anticipation of class. This emulates a "flipped classroom". Class time will largely be used to practice skills, ask questions, work on projects, free writes, assessments and review of such, versus teacher lecture. 
  • Review Ch 2 free write - teacher comments
    • Hand back and re-collect for CFG
  • Finish reading chapter and outlining learning objectives for chapter 
  • Record DECA events throughout period as able

Homework:
  • ​Choice

10/2 Wednesday (Period 4)
In class:
  • Same as Tuesday

Homework:
  • ​Choice

10/3 Thursday
In Class:
  • 20 MC questions check for understanding

Homework:
  • Take home and self-correct providing written responses to explain the theory you missed



10/4 Friday
In class:
  • Turn in self-corrections from MC quiz
  • DEED and CLASPP
  • Assign elasticity essays and teams. Student teams will construct a rubric and touch points for DEED and CLASPP elements. The touch point rubric should be organized similar to our previous document. 
  • Prompt #1:
    • Explain why the price elasticity of demand for primary commodities tends to be relatively low while the price elasticity of demand for manufactured products tends to be relatively high [10]
    • "The income elasticity of demand for primary products tends to be lower than that a for manufactured goods and services." Examine the implications for this for producers and for the economy as a whole. [15]
  • Prompt #2:
    • Explain why the price elasticity of supply (PES) for primary commodities tends to be relatively low, while the PES for manufactured products tends to be relatively high. [10]
    • Discuss possible consequences of a government imposing a price floor on an agricultural product. [15]

Homework:
  • Complete outline to be used on in-class essay Monday. Do not bring in a fully written essay, but only an outline! You will turn in both the essay and outline at the end of period Monday.

10/7 Monday
In class:
  • Write individual elasticity essay with outline. This is due on Wednesday, this is for both periods. Please bring a hard copy in the following order, essay, hand drawn graphs, (if not embedded into the essay) and then outline. Please bold key terms the first time they are applied.

Homework:
  • Read Ch 5 in anticipation of starting Government Intervention on Tuesday/Wednesday
Key learning
Graphic organizer​
Graphic organizer PED
Graphic organizer PES
​
Learning objectives
Learning objectives answers
Vocabulary
Diagrams

Chapter resources

​Textbooks:

Jason Welker (interactive)
Alternative textbook

Video lectures:
Jason Welker (our textbook)
AC/DC
Khan
Crashcourse

PPT lectures:
Jason Welker (our textbook)

Economic writing:
How to structure your essays
Command terms
Glossary

​Diagramming:
Key diagrams
​How to read and interpret graphs
Comprehensive list

Course resources
​​Course overview
Syllabus (Skyline)

IB course guide (official IB syllabus)
LO's by page #

Chapter index
IBO Sub reports
OSPI framework
Module review guides:
  Micro
  Macro
  International
  Development
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  • Home
  • IB Business HL
    • Opening week
    • 5.7 Crisis mgmt VW, TSLA, TM
    • IBBM HL IA
    • Financial
    • DECA Event Prep
    • Finals Prep Semester 1
    • IB Exam prep
    • DECA State prep
    • Production
    • April 20 - May 1, 2020
    • May 4 - May 15, 2020
    • May 18 - May 29, 2020
    • June 1 - June 12, 2020
  • IB Economics SL
    • Micro
      • Ch #01 Foundations of economics
      • Ch #02 Demand and supply
      • Ch #03 Makt equilibrium & efficiency
      • Ch #04 Elasticities
      • Ch #05 Gov't Intervention
      • Ch #06 Market failure
    • Macro
      • Ch #11 Measuring national economic performance
      • Ch #12 Aggregate demand and supply
      • Ch #13 Macro Obj: Low unemployment
      • Ch #14 Macro Obj: Low inflation
      • Ch #15 Macro Obj: Economic growth
      • Ch #16 Equity in income distribution
      • Ch #17 Fiscal Policy
      • Ch #18 Monetary policy
      • Ch #19 Supply side policies
    • International
      • Ch #20 International trade
      • Ch #21 Protectionism
      • Ch #22 Exchange rates
      • Ch #23 Balance of payments
      • Ch #24 Economic integration
    • Development
      • Ch #26 Economic development
      • Ch #27 Domestic and international factors
      • Ch #28 Foreign investment, aid, trade & debt
      • Ch #29 The balance between markets and intervention
    • IB Economics SL IA
  • Sales and Marketing
    • September
      • Wk #01 Introduction
      • Wk #02 Ch 01 Marketing is all around us
      • Wk #03 Ch 02 The marketing plan
      • Wk #04 Ch 2/DECA paper
    • October
      • Wk #05 Ch 03 Political and economic analysis / DECA paper section II
      • Wk #06 Ch 04 Global analysis
      • Wk #07 DECA paper section III
      • Wk #08 Ch 05 The free enterprise system / DECA paper section IV
      • Wk #09 Ch 06 Legal and ethical issues / DECA paper section IV
    • November
      • Wk #10 DECA paper Section IV
      • Wk #11 DECA paper Section V
      • Wk #12 Ch 12 Selling overview / DECA paper Section V
      • Wk #13 Ch 13 Beginning the sales process / DECA paper Executive summary
    • December
      • Wk #14 Ch 14 Presenting the product / DECA paper 1st draft
      • Wk #15 Ch 15 Closing the sale / DECA Area test
      • Wk #16 DECA paper final
    • January
      • Wk #17 DECA paper finalize / Area competition
      • Wk #18 Final review
      • Wk #19 Finals
      • Wk #20 DECA presentation
    • February
      • Wk #21 DECA presentation
      • Wk #22 DECA presentation
      • Wk #23 Sales presentation
      • Wk #24 DECA State preparation
    • March
    • April
    • April 20 - May 1, 2020
    • May 4 - May 8, 2020
    • May 11 - May 15, 2020
    • May 18 - May 22, 2020
    • May 26 - June 16, 2020
  • DECA
    • Samples
    • Business Plan Resources
    • Operations Research Resources
  • Contact
  • Ch #05 Gov't Intervention test