Economics PBL #4
Updated: 12/31/2020
Economics PBL #4

Storyboard Description

Tabitha helps Evan prepare for a Pop Quiz on Demand in their Economics Class.

Storyboard Text

  • Man, I can't remember what we learned in Economics yesterday, and now we're gonna have a Pop quiz, I just know it!
  • Hey, don't worry dude. I'll help you remember.
  • Okay, first things first! You have to know what Demand is.
  • Demand is the willingness to buy a good or service, and the ability to pay for it.
  • Okay, what's Demand then?
  • Well obviously just knowing the vocabulary isn't going to help you pass, you also need to know the factors that affect Demand.
  • Well, now I know WHAT Demand is, but how does that help me pass the Quiz?
  • Alright, care to tell me what they are?
  • Alright, here are the factors that affect Demand: Price of the product, Consumer income, Prices of related goods, The consumer's tastes/preferences, Consumer expectations, and the number of consumer's. Got it?
  • Now you've got it!
  • It's all coming back to me now, that means the last part I need to know for the Pop Quiz is, Elasticity in Demand!
  • Thank you so much Tabitha, I'm ready to take the Pop Quiz now!
  • No problem Evan, good luck on your Quiz!
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