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Application of demand and supply

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madhurima bagchi

on 7 April 2011

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Transcript of Application of demand and supply

Objectives of today’s lesson:

How to write an essay question

Application of demand and supply on a given essay question
Let's solve a puzzle..... How to write an essay.... How to plan an essay

Essay title Consider the topic and issues
Define terms
Command words
Develop into paragraphs
Illustrate with examples
Relate together
The Body

Para 1
Para 2
Para 3
Sum up your own ideas. Point out any wider implications. Avoid a sudden or abrupt ending.
Always give an insightful comment.
Remember the 3Cs Command word


Marking Descriptors Level 1 Knowledge/ Recognise (Description)
Identify the key theory without explanation
Outline give a list of relevant factors

Level 2 Consolidate (Add some detail – application)
Explain what happens – descriptive
Clarify Give examples without explanation

Level 3 Extend to include analysis
Analyse Use relevant theory to aid in explanation
Apply Place explanation in context of question
LG Philips, the world’s second largest LCD television maker, is to invest US$2.9bn to increase production of LCD television sets. Samsung predicted that, as a result, prices could fall by as much as 20%.

(a)Explain the determinants of demand for LCD television sets. [10]
Group Work Get into your coloured groups

In your groups discuss the assigned part

You will be given a clue card to help you answer

Thereafter one from each group will present their answer
Exit Passport On a piece of paper, spend 3 minutes to write down your answer to this question:

Consider the following events: Scientists reveal that consumption of oranges decreases the risk of diabetes and, at the same time, farmers use a new fertiliser that makes orange trees more productive.
Illustrate what effect these changes have on equilibrium price and quantity of oranges. Essay question 1
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