BLOOMS TAXONOMY Law of Demand Demonstration of Blooms
BLOOM’S TAXONOMY Law of Demand Demonstration of Bloom’s Understanding Levels POP QUIZ Prepared by: Buffie Schmidt, MBA, Ed. S. Senior Lecturer, Augusta University
KNOWLEDGE/REMEMBERING The _______ states that, other things remaining the same, if the price of a good rises, the quantity demanded of that good decreases and if the price of a good falls, the quantity demanded of that good increases. Prepared by: Buffie Schmidt, MBA, Ed. S. Senior Lecturer, Augusta University
COMPREHENSION State the law of demand in your own words. Prepared by: Buffie Schmidt, MBA, Ed. S. Senior Lecturer, Augusta University
APPLICATION Will an increase in the price of roller blades lead to a decrease in the demand for roller blades or a decrease in the quantity demanded? Prepared by: Buffie Schmidt, MBA, Ed. S. Senior Lecturer, Augusta University
ANALYSIS l Bob enjoys reading the newspaper each morning. This morning Bob said, "The increase in the price of the newspaper has decreased my demand to only weekend mornings. " As a student of economics, you know that Bob's statement is incorrect. a. Rewrite Bob's statement making corrections were necessary. l b. Discuss what was incorrect about Bob's statement and how the changes you made in part (a) make the statement correct. l Prepared by: Buffie Schmidt, MBA, Ed. S. Senior Lecturer, Augusta University
SYNTHESIS Graphically depict the affect on the Demand Curve of a normal good when consumer’s income increases. Prepared by: Buffie Schmidt, MBA, Ed. S. Senior Lecturer, Augusta University
EVALUATION 1. 2. Evaluate the graph below. Defend the accuracy of the graph using economic terms for each numbered item. Assume both D 1 and D 2 are the result of a single event. Describe such a possible event detailing the movement of demand. Prepared by: Buffie Schmidt, MBA, Ed. S. Senior Lecturer, Augusta University
- Slides: 7