Unit 1: Economics and Globalization

Lesson 3a: Demand

Something Interesting - Why are we studying this?

 

See the picture below. VanCamp's Pork and Beans are on sale (price is lower). Notice that there is a can of Campbell's Pork and Beans on the sale display.

What is that Campbell's Pork and Beans can doing on the display for VanCamp's Pork and Beans?

After studying this lesson you will be able to draw a graph illustrating what happened to the demand for Campbell's Pork and Beans when a customer took a can out of their shopping cart and placed it on this display of VanCamp's beans that were on sale.

 

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Lesson 3a