Grade 9-12
,
Activity
Normal and Inferior Goods
Objective
Students will be able to:
- Determine how income affects the demand for normal and inferior goods.
Standard
National Standards in Economics
Markets and Prices
Standard: 7
- Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
- Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.
Concepts
![](https://preview2.econedlink.org/wp-content/uploads/2021/07/iStock-1169397193-1024x683.jpg 1024w, https://preview2.econedlink.org/wp-content/uploads/2021/07/iStock-1169397193-300x200.jpg 300w, https://preview2.econedlink.org/wp-content/uploads/2021/07/iStock-1169397193-768x512.jpg 768w, https://preview2.econedlink.org/wp-content/uploads/2021/07/iStock-1169397193-1536x1024.jpg 1536w, https://preview2.econedlink.org/wp-content/uploads/2021/07/iStock-1169397193-2048x1365.jpg 2048w, https://preview2.econedlink.org/wp-content/uploads/2021/07/iStock-1169397193-100x67.jpg 100w)
In this economics activity, students review how income affects demand for normal and inferior goods.
Resources
Procedure
This is an individual activity requiring students to predict how changes in income affect the demand for normal and inferior goods. To complete this activity, students need to follow the directions below:
- Watch a short video from Khan Academy called Normal and Inferior Goods
- Answer the questions reviewing the concepts in the Quizizz activity, Normal and Inferior Goods worksheet, or complete the ReadyAssessments Activity.
- Then, check the answer key.
Subjects:
Economics