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When you buy something, do you ever wonder why it sells at that particular price? Few individual consumers feel they have any influence over the price of an item. In a market economy like ours, however, all consumers individually and collectively have an influence on the price of all goods and services. One way Americans influence prices in the marketplace is through demand. If you are interested in the prices you pay for goods and services, or why some people earn higher salaries than others, you will be interested in learning how demand works. To learn more about demand, view the Economics & You video lesson 5: What Is Demand? Organizing Information Study Foldable Make the following foldable to help you organize information about demand in a market economy. Step 1 Fold a sheet of paper into thirds from top to bottom. Reading and Writing As you read the chapter, record your thoughts and the information you learn about demand in a market economy in the appropriate columns of your foldable. Step 2 Turn the paper horizontally, unfold, and label the three columns as shown. 446 Demand—shown by these people waiting to buy tickets—is the willingness to buy a product at a particular price. What Is Demand? Factors Affecting Demand Description of Factors Michele Burgess/Stock Boston
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To learn more about demand, view the Economics & You video ...djohnson2pchs.weebly.com/uploads/8/7/3/8/87386724/chapter_20.pdf · The Law of Demand Look at the graph again. As you

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  • When you buy something, do you ever wonder why itsells at that particular price? Few individual consumersfeel they have any influence over the price of an item.In a market economy like ours, however, all consumersindividually and collectively have an influence on theprice of all goods and services. One way Americansinfluence prices in the marketplace is through demand.If you are interested in the prices you pay for goods and services, or why some people earn higher salariesthan others, you will be interested in learning howdemand works.

    To learn more about demand, view the Economics & Youvideo lesson 5: What Is Demand?

    Organizing Information Study Foldable Make the following foldable to helpyou organize information about demand in a market economy.

    Step 1 Fold a sheet of paper intothirds from top to bottom.

    Reading andWriting As you read the chapter,record your thoughtsand the informationyou learn aboutdemand in a marketeconomy in theappropriate columnsof your foldable.

    Step 2 Turn the paper horizontally,unfold, and label the three columnsas shown.

    446Demand—shown by these people waitingto buy tickets—is the willingness to buy

    a product at a particular price.▲

    What Is Demand?

    FactorsAffectingDemand

    Descriptionof Factors

    446-451 U6 CH20 S1 CT-860970 12/8/03 6:23 PM Page 446

    Michele Burgess/Stock Boston

  • Chapter Overview Visit the CivicsToday Web site at civ.glencoe.comand click on Chapter Overviews—Chapter 20 to preview chapterinformation.

    446-451 U6 CH20 S1 CT-860970 12/8/03 6:25 PM Page 447

    http://civ.glencoe.com

  • Have you ever noticed how pricesaffect the things we buy? Gas priceshave been up and downdramatically in the past five years,and they affect the types ofvehicles that we buy. A May2004 article in The ChristianScience Monitor tells about theimpact of high gas prices onone American icon - the gasguzzling SUV: “Could theultimate soccer-mom icon reallybe on its way out? Reports offalling sales for the behemothsof the road . . . have fueledspeculation that Americansmay finally be shifting awayfrom the biggest-is-bestmentality. . . . In April, sales onlarge SUVs fell 15 percent from thesame period a year ago, . . .”

    An Introduction to DemandThe story above illustrates a key feature of the American

    economy. In the United States, demand is affected by theprice we pay. To understand prices, you have to understandboth supply and demand.We will study demand in this chap-ter, seeing how it affects price and why it changes. In the nextchapter, we will study supply more closely. Then we will seehow supply and demand work together to set prices.

    What is demand? The word demand has a specific mean-ing in economics. It refers to the desire, willingness, and abil-ity to buy a good or service. For demand to exist, a consumermust want a good or service. Second, the consumer has to bewilling to buy that good or service. Finally, the consumer musthave the resources available to buy it.

    GUIDE TO READING

    Main IdeaYou express your“demand” for a productwhen you are willing andable to purchase it.

    Key Termsdemand, demand schedule, demand curve,law of demand, marketdemand, utility,diminishing marginal utility

    Reading StrategyAnalyzing InformationAs you read the section,complete the diagramsbelow to illustrate the lawof demand.

    Read to Learn• What does it mean

    when demand rises orfalls?

    • What does the law ofdemand state?

    What Is Demand? SECTION

    Motorist faces highgas prices

    448 Chapter 20 DemandAaron Haupt

    Prices

    Rise

    Quantity Demanded

    Fall

    446-451 U6 CH20 S1 CT-874574 9/29/05 2:38 PM Page 448

  • Chapter 20 Demand 449

    The Individual Demand ScheduleA demand schedule is a table that lists

    the various quantities of a product or ser-vice that someone is willing to buy over arange of possible prices. Look at thedemand schedule on this page. It showshow many video games George would bewilling to buy at different prices. For exam-ple, George would not purchase any videogames if they cost $50 each. If the pricewere only $20 per game, though, he wouldbe willing to buy two.

    The Individual Demand CurveDemand can also be shown graphically.

    A demand curve is a graph that shows theamount of a product that would be boughtat all possible prices in the market. Thecurve is drawn with prices on the verticalaxis and quantities on the horizontal axis.Each point on the curve shows how manyunits of the product or service an individualwill buy at a particular price.

    Look at the demand curve on this page.Notice that each point matches the quantitylisted in the demand schedule. Georgewould buy five video games if the price were$5 each, three games at $10 each, and so on.

    The Law of DemandLook at the graph again. As you see,

    demand curves usually slope downwardbecause people are normally willing to buyless of a product if the price is high andmore of it if the price is low. According tothe law of demand, quantity demandedand price move in opposite directions.

    Of course, this is just common sense.Think about your own buying habits.Aren’t you more interested in buying moreof something when the price is lower thanwhen the price is higher?

    Comparing Describe therelationship between the demand scheduleand the demand curve.

    Individual vs. Market DemandSo far we have been looking at only one

    person’s demand for a product or service.Companies hope to sell to many, many peo-ple, though.They have to take into accountthe demand of all those people. They areinterested in the market demand—thetotal demand of all consumers for theirproduct or service.

    An Individual Buyer’s Demand

    DEMAND CURVE

    PR

    ICE

    0

    10

    20

    30

    40

    $50

    1 2 3 4 5QUANTITY

    Price Quantity

    $50$40$30$20$10$5

    011235

    Demand Schedule

    Demand is illustrated on a schedule or a curve.How many video games would George be willingto purchase at a price of $10 each?

    446-451 U6 CH20 S1 CT-860970 12/8/03 6:28 PM Page 449

  • 450 Chapter 20 Demand

    Market demand can also be shown as ademand schedule or as a demand curve.See the examples at the top of this page.

    Demand Illustrated A knowledge of demand is essential to

    understand how a market economy works.As you read in Chapter 18, in a marketeconomy people and businesses act in theirown best interests to answer the WHAT,HOW, and FOR WHOM questions of pro-duction. Knowledge of demand is alsoimportant for sound business planning.

    To illustrate, imagine you are opening abicycle repair shop. Before you begin, youneed to know where the demand is.You willwant to set up your shop in a neighborhoodwith many bicycle riders and few repairshops. After you identify an area in which tolocate the shop, how do you measure thedemand for your services? You may visitother shops and gauge the reactions of con-sumers to different prices. You may pollconsumers about prices and determinedemand from this data. You could studydata compiled over past years, which would

    show consumer reactions to higher andlower prices. All of these methods wouldgive you a general idea as to the desire, will-ingness, and ability of people to pay.

    Diminishing Marginal UtilityAlmost everything that we buy provides

    utility, meaning the pleasure, usefulness,or satisfaction we get from using the prod-uct. The utility of a good or service mayvary from one person to the next. Forexample, you may get a great deal of enjoy-ment from a home computer, but yourfriend may get very little. Your friend maylove pepperoni pizza, but you may not. Agood or service does not have to have util-ity for everyone, only utility for some.

    The utility we get from consumptionusually changes as we consume more of aparticular product. For example, when eat-ing pizza, you may be very hungry beforeyou eat the first slice, and so it will giveyou the most satisfaction. Because you arenot quite as hungry after consuming thefirst slice, you receive less marginal utility,or less additional satisfaction, from each

    Market Demand

    Price Total QuantityDemanded

    $50$40$30$20$10$5

    100150180230300400

    Demand Schedule

    The demand curve is the graphic repre-sentation of the law of demand. Whydoes the demand curve slope downward?

    DEMAND CURVE

    PR

    ICE

    0

    10

    20

    30

    40

    $50

    QUANTITY100 150 200 250 300 350 400

    446-451 U6 CH20 S1 CT-860970 12/8/03 6:29 PM Page 450

  • Checking for Understanding1. Key Terms Use each of these

    terms in a complete sentencethat helps explain its meaning:demand, demand schedule,demand curve, law of demand,market demand, utility.

    Reviewing Main Ideas2. Explain What is the term for a

    line plotted on a graph showingthe quantities demanded of agood or service at each possibleprice?

    3. Explain According to the law ofdemand, what would happen ina situation in which the averageprice of concert tickets rosefrom $40 to $80?

    Critical Thinking 4. Making Predictions You sell pop-

    corn during your school’s footballgames. Knowing that people usu-ally buy more when the price islower, how would you price yourpopcorn after halftime?

    5. Making Predictions On a dia-gram like the one below, identifya relatively rare good or servicetoday that you think will be invery high demand in 20 years.Provide at least two reasons foryour prediction.

    Analyzing Visuals6. Interpret Study the schedule and

    graph illustrating market demandon page 450. What is the quantitydemanded at $30? What hap-pens to total quantity demandedas the price increases?

    SECTION ASSESSMENT

    additional slice that you eat.This illustrates diminishing marginal utility—the prin-ciple that our additional satisfaction, or ourmarginal utility, tends to go down as moreand more units are consumed.

    The concept of diminishing marginalutility helps explain why the demand curvein the figure on page 450 slopes downward.For example, when we buy something, weusually ask ourselves if the marginal utilitywe will get from a purchase is worth themoney we have to give up to get it. This isexactly the type of cost-benefit analysis weexamined in the last chapter. If the extrabenefits (the marginal utility) to be gainedare greater than the marginal cost (themoney given up), then we make the pur-chase. If the additional benefits are lessthan the extra costs, we do not make thepurchase and we keep the money instead.

    Because our marginal utility diminisheswhen we consume more and more of a prod-uct, it stands to reason that we would not beas willing to pay as much for the second itemas we did for the first. Likewise, we would not

    be willing to pay as much for the third itemas we did for the second. When the demandcurve slopes downward, it simply tells us thatwe would be willing to pay the highest pricefor the first unit we consume, a slightly lowerprice for the next, and an even lower price forthe third—and so on.

    Comparing What is thedifference between individual demand andmarket demand?

    �BE AN ACTIVE CITIZEN�7. Research Interview a local mer-

    chant to determine the demandfor a particular product over aspecific period of time. Presentyour findings in graph form. Writea paragraph explaining what fac-tors most affected demand forthe product.

    Chapter 20 Demand 451

    Good orService

    Reason:

    Reason:

    Buyer’s MarketWhen an abundance of goods exists, buyerscan afford to be selective. In a “buyer’smarket,” sellers usually have to lower prices to lure customers. Such a market oftendevelops at the end of a season or holidaywhen the demand for particular items goesdown. Watch for sales in your local newspaper.Clip ads that show price cuts because ofseasonally linked changes in demand.

    Study Central TM To review this section, go toand click on Study CentralTM.civ.glencoe.com

    446-451 U6 CH20 S1 CT-874574 9/29/05 2:38 PM Page 451

    civ.glencoe.com

  • Many factors influence the demand for goods andservices. One of these is changes in income. When your income goesup, you can afford to buy more goods andservices. A TIME article described whathappened in November 2001 when incomefell: “Surveys find that households areplanning to spend some $28 less than 2000’s$490 average [on holiday presents]. . . . RetailForward Inc. forecasts a drop of 1.5 percentin the season’s sales of apparel, furniture,consumer electronics, and other generalmerchandise over last season’s. . . . Thereason for all the gloom and doom isobvious: Unemployment numbers arerising . . . and the current pop psychologysays folks will be thinking more aboutspending time with friends and family thanthrowing a lot of money at them.”

    Changes in DemandThe demand for any product or service is not the same over

    time. Sometimes people are willing to buy higher quantities of aproduct or service at a particular price. At other times they areless willing to do so. As a result, demand can go up or down.

    Several factors cause market demand to change. Marketdemand can change when more consumers enter the market.Market demand can also change when the incomes, tastes, andexpectations of the consumers in the market change. Finally,changes in the prices of related goods affect demand.

    These changes can all be graphed using a market demandcurve. When demand goes down, people are willing to buyfewer items at all possible prices (see the graph showing adecrease in demand on page 453). In this case, the demandcurve shifts to the left.When demand goes up, people are will-ing to buy more of the same item at any given price. Thispushes the entire demand curve to the right. Look at the graphon page 453 that shows an increase in demand.

    GUIDE TO READING

    Main IdeaSeveral factors can causedemand to either increaseor decrease.

    Key Termssubstitute, complement,demand elasticity

    Reading StrategyOrganizing InformationAs you read the section,complete a diagram likethe one below by identify-ing six factors that affectdemand.

    Read to Learn• What does it mean when

    the demand curveshifts?

    • What factors can causea change in demand?

    Factors Affecting Demand

    SECTION

    Buying fewer gifts this year

    452 Chapter 20 DemandJohn Eastcott/Yva Momatiuk/Woodfin Camp & Assoc.

    FactorsAffecting Demand

    452-459 U6 CH20 S2 CT-874574 9/29/05 2:44 PM Page 452

  • Changes in the Number of ConsumersDemand for a good in a particular mar-

    ket area is related to the number of con-sumers in the area. The more consumers,the higher the demand; the fewer con-sumers, the lower the demand. Suppose acompany puts up a new apartment buildingand the building is soon filled with families.These new residents begin to buy productsand services from area businesses. As aresult, demand for gasoline, food, and videorentals in this area will go up. In this case,the demand curve will shift to the right.

    The same factor can cause a change inthe opposite direction. When many peoplemove out of an area, demand for goods andservices goes down. Here the demandcurve shifts to the left.

    The number of consumers in a particu-lar market area may change for a number ofreasons. A higher birthrate, increasedimmigration, or the migration of peoplefrom one region to another increases thenumber of consumers. Factors such as ahigher death rate or the migration of peopleout of a region can also cause the numberof consumers to fall.

    Changes in Consumers’ IncomeDemand also changes when consumers’

    income changes. When the economy ishealthy, people receive raises or move tobetter-paying jobs. With more money tospend, they are willing to buy more of aproduct at any particular price.

    Again, the opposite can happen, too. Ineconomic hard times, people lose their jobs.They have less income to spend, and sodemand goes down.

    Changes in Consumers’ TastesChanging tastes can affect demand as

    well. When a product becomes popular,perhaps through an advertising campaign,the demand curve shifts to the right.More people are willing to buy the prod-uct at a particular price. We often see thisduring the holiday shopping season whena new product becomes the “must-buy” ofthe year.

    Many products, though, fade in popu-larity over time. When that happens, thedemand curve shifts to the left. This showsthat people are less willing to spend moneyon those products.

    A Change in Demand

    INCREASE IN DEMAND

    PR

    ICE

    0

    $10

    $20

    $30

    $40

    $50

    QUANTITY

    DECREASE IN DEMAND

    PR

    ICE

    0

    $10

    $20

    $30

    $40

    $50

    QUANTITY

    OriginalCurve

    Drop inDemand

    NewCurve Original

    Curve

    Jump inDemand

    New Curve

    75 150 225 300 375 45075 150 225 300 375 450

    A change in demand means that a different quantity isdemanded at each and every possible price in the market.What happens to the demand curve when demand increases?

    452-459 U6 CH20 S2 CT-825989 12/8/03 6:41 PM Page 453

  • Beulah Louise Henry(1887–1973)When asked why she designedso many new products, BeulahHenry declared, “I inventbecause I can’t help it.” Born inMemphis, Tennessee, in 1887,Henry came from a family ofartists. However, instead ofdrawing landscapes or portraits,she sketched gadgets.

    Henry went on to inventmore than 100 items, earning 49 patents. Forthe home, she designed the first bobbinlesssewing machine and a vacuum (sealed) icecream maker. For the office, she created con-tinuously attached envelopes for mass mail-ings and an early photocopier—a typewriterthat made multiple copies without copierpaper. For children, she invented the KiddieKlock to teach time and a doll with a radioinside.

    Henry became known as the “Lady Edison,”after Thomas Alva Edison. Like Edison, Henrynot only invented, she thought of innovativeways to market her products. If a new machinewas needed to manufacture an item, sheinvented it. If she needed a company to pro-duce the goods, she founded it. By age 37Henry could boast, “I have inventions patentedin four different countries, and I am presidentof two newly incorporated companies.”

    454 Chapter 20 Demand

    452-459 U6 CH20 S2 CT-825989 12/8/03 7:44 PM Page 454

    Changes in Consumers’ Expectations“Expectations” refers to the way people

    think about the future. For example, supposethat a leading maker of audio productsannounces a technological breakthrough thatwould allow more music to be recorded on asmaller disk at a lower cost than before. Evenif the new product might not be available for

    another year, some consumers might decideto buy fewer music CDs today simplybecause they want to wait for the new prod-uct. Expectations also affected demand inthe Americans in Action article that beganthis section. People were worried about hardtimes in late 2001. As a result, they were lesswilling to spend money on holiday gifts.Thedemand for goods was reduced.

    Expectations can also force demandhigher. If people expect a shortage of some-thing, such as gasoline, demand increases.This shifts the demand curve to the right.

    Changes in SubstitutesDemand can be influenced by changes

    in the price or quality of related products.The demand for older computers fallswhen new models with faster processorscome out. The demand for a certain brandof tire may increase when another tire hassafety problems.

    Competing products are calledsubstitutes because consumers can useone in place of the other.When two goodsare substitutes, a change in the price ofone good causes the demand for the othergood to move in the same direction. Forexample, for many people, butter is a sub-stitute for margarine. If the price of mar-garine increases, the demand for butteralso increases (shifts to the right) as peo-ple substitute butter for the higher-pricedmargarine. Other examples of substitutesinclude coffee and tea, pens and pencils,and Ford cars and Chrysler cars.

    Changes in ComplementsSome products are complements,

    meaning that they are used together. Forexample, computers and software are com-plements. With complementary goods, thedemand for one moves in the oppositedirection as the price of the other. So ifcomputer prices rise, fewer computers will

    Illustrator: H. Mitchell

  • Chapter 20 Demand 455

    be demanded, and the demand for com-puter software will go down. Because peo-ple are buying fewer new computers, theyneed less new software.

    You can also see the same effect whenthe price goes down instead of up.When theprice of DVD players goes down, more DVDplayers are demanded, which also results inan increase in the demand for DVDs. Otherexamples of complements (or complemen-tary goods) include cars and gasoline, video-tapes and VCRs, lightbulbs and lamps, andtennis rackets and tennis balls.

    Comparing Are butter andmargarine substitute goods? Why or why not?

    Elasticity of DemandThe law of demand states that price and

    quantity demanded move in opposite direc-tions. If price goes up, quantity demandedgoes down; and if price goes down, quantitydemanded goes up.

    Now suppose price goes up from $1 to$1.25, a 25 percent rise.We know that quan-tity demanded will go down, but we don’tknow by how much. Quantity demandedcould go down by 25 percent, by less than25 percent, or by more than 25 percent.

    All products and services are notaffected by these factors in the same way.Economists call this phenomenon demandelasticity. Demand elasticity is the extentto which a change in price causes a changein the quantity demanded.

    Elastic DemandFor some goods and services, demand

    is elastic. This means that each change inprice causes a relatively larger percentagechange in quantity demanded. For exam-ple, when automakers reduce car pricesmodestly, the quantity sold goes up greatly.When they raise the price of their cars, thequantity sold goes down a great deal.

    When there are attractive substitutes fora good or service, demand tends to be elas-tic. That is because consumers can chooseto buy the substitute. Expensive items gen-erally have elastic demand. That is becauseconsumers are less willing to pay even more for goods thatare expensive in the first place.Finally, demand isusually elastic whena purchase can bepostponed untillater. In this case,

    Student Web Activity Visitciv.glencoe.com and click onStudent Web Activities—Chapter 20 to learn moreabout demand for products.

    Elastic Demand A new car may be considered a lux-ury. Medicine is a necessity. The demand for whichof these two items is more likely to be elastic?

    452-459 U6 CH20 S2 CT-825989 12/8/03 11:50 PM Page 455

    (l)Peter Southwick/Stock Boston, (r)Joan Slatkin/Omni-Photo Communications

    http://civ.glencoe.com

  • consumers delay buying the good or servicein the hopes that the price will go down.

    Inelastic DemandFor other goods and services, demand

    is inelastic. This means that price changeshave little effect on the quantity demanded.For example, the demand for turkey atThanksgiving tends to be inelastic. Manypeople make turkey a central part of theirThanksgiving meal. If supermarkets slightlyraise the price of turkey, they would proba-bly not lose many customers. At anothertime of year, higher turkey prices mightcause consumers to purchase other meatproducts instead.

    The demand for goods with very few orno substitutes, like pepper, electricity, andsome medicines, is likely to be inelastic.Heart medicine, for example, has relativelyfew substitutes; many people must have itto stay well. Even if the price of heart med-icine doubled, quantity demanded proba-bly would not fall by much.

    Inferring Why is thedemand for insulin, a medicine for peoplewith diabetes, inelastic?

    456 Chapter 20 Demand

    Checking for Understanding1. Key Terms Write a paragraph in

    which you use each of theseterms correctly: substitute, com-plement, demand elasticity.

    Reviewing Main Ideas2. Explain How do we show on a

    demand curve an increase inthe demand for a good?

    3. Describe What is the term thatdescribes the relationshipbetween a change in price andthe resulting change in the num-ber sold?

    Critical Thinking4. Making Generalizations Will

    products that are very importantto us and that have no closesubstitutes have elastic orinelastic demand?

    5. Understanding Cause and EffectCreate a chart like the onebelow to show how a change in the price of substitutes influ-ences quantity demanded.

    Analyzing Visuals6. Infer Study the graphs showing

    change in demand on page 453.Would a decrease in incomecause an increase or a decreasein demand? How would a de-crease in the price of camerasaffect the demand for film?

    Tom Engelhardt

    �BE AN ACTIVE CITIZEN�7. Research Find an example of the

    law of demand or elasticity ofdemand in a newspaper or maga-zine article or advertisement.Share your findings with the class.

    Price Effect

    Increases

    Decreases

    Analyzing Visuals To monitor the health ofthe economy, the government keeps track of awide range of indicators. What is the cartoonistimplying about the relationship between eco-nomic indicators and consumers’ purchasingdecisions?

    SECTION ASSESSMENT

    “There’s Only One Economic Indicator I Go By”

    Study Central TM To review this section, go toand click on Study CentralTM.civ.glencoe.com

    452-459 U6 CH20 S2 CT-874574 9/29/05 2:45 PM Page 456

    civ.glencoe.com

  • Chapter 20 Demand 457

    Critical Thinking

    Why Learn This Skill?What is the status of consumer demand forfuel-efficient automobiles? Is the labor marketas strong this year as it was last year?Industries and governments routinely collectstatistics that answer these kinds of ques-tions. Such statistics are often arranged online graphs. A line graph condenses a largeamount of information into a visual format.Reading line graphs can help you make com-parisons and trace trends.

    Learning the SkillTo read a line graph, follow these steps:• Read the title. The title of the graph tells you

    what kind of information the graph presents.• Read the key. The key lists specific cate-

    gories of data displayed. It also shows thesymbol or device used to represent eachcategory.

    • Examine the labeling along the vertical andhorizontal axes. Determine the area of infor-mation shown on each axis and determinehow the graph grid is divided.

    • Locate specific points where the line inter-sects with the grid. Identify the single factindicated at that point.

    • Look for relationships. Compare patternsamong the different areas shown on thegraph. Trace graph lines to identify trendsover time.

    Practicing the SkillOn a separate sheet of paper, answer the follow-ing questions about the line graph on this page.

    What is the subject of this graph?Into what three categories are the statis-tics grouped?What information is shown along the verti-cal axis?

    In which sector of the motion pictureindustry was the demand for workers thelowest?Did the overall demand for workers in themotion picture industry rise or fall in the1990s?

    5

    4

    3

    21

    Practice key skills with Glencoe’sSkillbuilder Interactive WorkbookCD-ROM, Level 1.

    Reading a Line Graph

    Use newspapers or magazines to locate a linegraph showing some current economic statis-tics. Record at least two specific points ofinformation and one trend you note afterreading the graph.

    Applying the Skill

    0255075

    100125150175200225250275300

    Production and ServicesVideo Tape RentalsTheaters

    DEMAND FOR WORKERS IN MOTION PICTURE INDUSTRY,

    1992–2000

    EM

    PLO

    YEES

    (in

    thou

    sand

    s)

    1992

    1996

    1994

    2000

    (est.)1

    998

    YEARS

    452-459 U6 CH20 S2 CT-825989 12/8/03 6:45 PM Page 457

  • Using Your Foldables Study OrganizerAfter you have completed your foldable,pair up with a classmate. One personshould name a factor that affectsdemand. The other person shoulddescribe how that factor affects demand.Take turns in the same manner until youhave named all of the factors.

    458

    Section 2• A change in demand means that people have

    changed their minds about the amounts theywould buy at each and every price.

    • Change in consumer incomes, tastes,expectations, and the price of related goodscauses a change in demand.

    • Elasticity is ameasure ofresponsiveness to an increase or a decrease in price.

    Section 1• You express demand

    for a product when youare both willing andable to purchase it.

    • Demand can besummarized in ademand schedule.

    • Demand can also beshown graphically in a downward-sloping demand curve.

    Reviewing Key TermsWrite the key term that best matches eachdefinition below.

    1. an economic rule stating that the quantitydemanded and price move in opposite directions

    2. the desire, willingness, and ability to buy aproduct

    3. a product related to another product in sucha way that an increase in the price of onereduces the demand for both

    4. a downward-sloping graph that shows thequantities demanded at each possible price

    5. a situation in which consumers demand dif-ferent amounts at every price, causing thedemand curve to shift to the left or right

    6. a product that can be used in place ofanother product

    7. a listing that shows the quantities demandedof a product at various prices

    8. a situation in which the rise or fall in a prod-uct’s price greatly affects the amount thatpeople are willing to buy

    Reviewing Main Ideas9. What is the law of demand?

    10. What does a demand curve show?

    11. What happens to quantity demanded of aproduct when the price goes down?

    12. How do we show in a graph an increase inthe demand for a good?

    13. What is the difference between elastic andinelastic demand?

    14. What is the term for a good that is oftenused with another product?

    15. Butter and margarine are substitutes. Whathappens to the demand for butter as theprice of margarine rises?

    16. What does it mean when a demand curveshifts to the right? To the left?

    452-459 U6 CH20 S2 CT-825989 12/8/03 6:45 PM Page 458

    (t)Jonathan Nourok/PhotoEdit, (b)Mike Yamashita/Woodfin Camp & Assoc.

  • Critical Thinking17. Summarizing Information Why is the

    demand for a product with many substituteselastic?

    18. Understanding Causeand Effect Recreate thediagram at right. Usearrows to indicate thedirection of movement ofthe demand curve for thestatements below.

    • the demand curve for CDs if all wagesincreased by 20 percent

    • the demand curve for chicken if the priceof beef falls

    Analyzing VisualsStudy the table below; then answer thefollowing questions.

    19. At a price of $3, how many cassettes doeseach person demand?

    20. Does the data suggest that, at lower prices,new demanders enter the market? Explain.

    Practicing Skills21. Reading a Line Graph Analyze the line

    graph on page 457. What are the three cat-egories of workers shown? What categorymade up the largest number of motion pic-ture workers in 2000? The smallest?

    Economics Activity22. For each of the cases below, identify the

    factor that is causing demand to change.

    • The demand for snow tires in Chicagoincreases when a weather forecast pre-dicts a blizzard.

    • The demand for tea decreases when theprice of coffee falls.

    23. Working in a team of four, interview fourstudents in the school, asking the followingquestions: Do any recent purchases repre-sent a change in your buying habits? If so,what factors caused the change?

    After completing the interviews, summarizeyour information and draw conclusions.

    Self-Check Quiz Visit the Civics Today Web site atciv.glencoe.com and click on Self-Check Quizzes—Chapter 20 to prepare for the chapter test.

    Standardized Test Practice

    Directions: Choose the bestanswer to the following question.

    When a demand curve shifts to the right,it meansF an increase in price will lower total

    revenue. G the product has few substitutes.H buyers are willing and able to buy more

    units of the good at all prices.J buyers are willing and able to buy fewer

    units at all prices.

    Test-Taking TipRead all the answer choices carefully

    before you select an answer.

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    452-459 U6 CH20 S2 CT-825989 12/8/03 6:46 PM Page 459

    http://civ.glencoe.com

    Civics Today: Citizenship, Economics, & YouTable of ContentsPreviewing Your TextbookScavenger HuntNational Geographic Reference AtlasUnited States: PoliticalWorld: PoliticalUnited States 2000 Congressional Reapportionment

    Reading Skills HandbookIdentifying Words and Building VocabularyReading for a ReasonUnderstanding What You ReadThinking About Your ReadingUnderstanding Text StructureReading for Research

    Be an Active ReaderBe an Active CitizenWhy Study Civics?Unit 1: Foundations of American CitizenshipChapter 1: Citizenship and Government in a DemocracySection 1: Government of the People, by the People, for the PeopleSection 2: The Path to CitizenshipSection 3: The Diversity of AmericansChapter 1 Assessment & Activities

    Chapter 2: Roots of American DemocracySection 1: Our English HeritageSection 2: The Birth of a Democratic NationSection 3: The Nation's First GovernmentsThe Declaration of IndependenceChapter 2 Assessment & Activities

    Chapter 3: The ConstitutionSection 1: The Road to the ConstitutionSection 2: Creating and Ratifying the ConstitutionThe Constitution of the United StatesSection 3: The Structure of the ConstitutionSection 4: Principles Underlying the ConstitutionChapter 3 Assessment & Activities

    Chapter 4: The Bill of RightsSection 1: The First AmendmentSection 2: Other Guarantees in the Bill of RightsSection 3: Extending the Bill of RightsSection 4: The Civil Rights StruggleChapter 4 Assessment & Activities

    Chapter 5: The Citizen and the CommunitySection 1: The Duties and Responsibilities of CitizenshipSection 2: Volunteering in Your CommunityChapter 5 Assessment & Activities

    Unit 2: The National GovernmentChapter 6: CongressSection 1: How Congress Is OrganizedSection 2: The Powers of CongressSection 3: Representing the PeopleSection 4: How a Bill Becomes a LawChapter 6 Assessment & Activities

    Chapter 7: The President and the Executive BranchSection 1: The President and Vice PresidentSection 2: The President's JobSection 3: Making Foreign PolicySection 4: Presidential Advisers and Executive AgenciesChapter 7 Assessment & Activities

    Chapter 8: The Judicial BranchSection 1: The Federal Court SystemSection 2: How Federal Courts Are OrganizedSection 3: The United States Supreme CourtSection 4: Deciding Cases at the Supreme CourtChapter 8 Assessment & Activities

    Unit 3: Political Parties and Interest GroupsChapter 9: Political Parties and PoliticsSection 1: Development of American Political PartiesSection 2: Organization of American Political PartiesSection 3: Role of Political Parties TodayChapter 9 Assessment & Activities

    Chapter 10: Voting and ElectionsSection 1: Who Can Vote?Section 2: Election CampaignsSection 3: Paying for Election CampaignsChapter 10 Assessment & Activities

    Chapter 11: Influencing GovernmentSection 1: Public OpinionSection 2: The Mass MediaSection 3: Interest GroupsChapter 11 Assessment & Activities

    Unit 4: State and Local GovernmentChapter 12: State GovernmentSection 1: The Federal SystemSection 2: The State Legislative BranchSection 3: The State Executive BranchSection 4: The State Judicial BranchChapter 12 Assessment & Activities

    Chapter 13: Local GovernmentSection 1: City GovernmentSection 2: County GovernmentsSection 3: Towns, Townships, and VillagesChapter 13 Assessment & Activities

    Chapter 14: Dealing With Community IssuesSection 1: How a Community Handles IssuesSection 2: Education and Social IssuesSection 3: Environmental IssuesChapter 14 Assessment & Activities

    Unit 5: The Individual, the Law, and the InternetChapter 15: Legal Rights and ResponsibilitiesSection 1: The Sources of Our LawsSection 2: Types of LawsSection 3: The American Legal SystemChapter 15 Assessment & Activities

    Chapter 16: Civil and Criminal LawSection 1: Civil CasesSection 2: Criminal CasesSection 3: Young People and the CourtsChapter 16 Assessment & Activities

    Chapter 17: Citizenship and the InternetSection 1: Civic ParticipationSection 2: Challenges for DemocracySection 3: Regulating the InternetChapter 17 Assessment & Activities

    Unit 6: The Economy and the IndividualChapter 18: What Is Economics?Section 1: The Fundamental Economic ProblemSection 2: Making Economic DecisionsSection 3: Being an Economically Smart CitizenChapter 18 Assessment & Activities

    Chapter 19: The American EconomySection 1: Economic ResourcesSection 2: Economic Activity and ProductivitySection 3: Capitalism and Free EnterpriseSection 4: The Economy and YouChapter 19 Assessment & Activities

    Chapter 20: DemandSection 1: What Is Demand?Section 2: Factors Affecting DemandChapter 20 Assessment & Activities

    Chapter 21: SupplySection 1: What Is Supply?Section 2: Factors Affecting SupplySection 3: Markets and PricesChapter 21 Assessment & Activities

    Chapter 22: Business and LaborSection 1: Types of BusinessesSection 2: Labor UnionsSection 3: Businesses in Our EconomyChapter 22 Assessment & Activities

    Unit 7: The Free Enterprise SystemChapter 23: Government and the EconomySection 1: The Role of GovernmentSection 2: Measuring the EconomySection 3: Government, the Economy, and YouChapter 23 Assessment & Activities

    Chapter 24: Money and BankingSection 1: What Is Money?Section 2: The Federal Reserve SystemSection 3: How Banks OperateChapter 24 Assessment & Activities

    Chapter 25: Government FinancesSection 1: The Federal GovernmentSection 2: State and Local GovernmentsSection 3: Managing the EconomyChapter 25 Assessment & Activities

    Unit 8: The United States and the WorldChapter 26: Comparing Economic SystemsSection 1: International Trade and Its BenefitsSection 2: Economic SystemsSection 3: Economies in TransitionChapter 26 Assessment & Activities

    Chapter 27: Comparing Systems of GovernmentSection 1: Types of GovernmentSection 2: A Profile of Great BritainSection 3: A Profile of ChinaChapter 27 Assessment & Activities

    Chapter 28: An Interdependent WorldSection 1: Global DevelopmentsSection 2: The United NationsSection 3: Democracy and Human RightsChapter 28 Assessment & Activities

    AppendixWhat Is an Appendix and How Do I Use One?Honoring AmericaCareers HandbookGovernment and Economics Data BankUnited States FactsPresidents of the United StatesDocuments of American HistorySupreme Court Case SummariesGlossarySpanish GlossaryIndexAcknowledgments

    Feature ContentsTIMETIME Political CartoonsTIME Teens in ActionTIME An Inside Look At...

    Fact Fiction FolkloreStreet Law™: The Law and YouAmerican BiographiesSkillbuilderCritical ThinkingCitizenshipTechnology

    Issues to DebateEconomics and YouDocuments of American HistoryLandmark Supreme Court Case StudiesCharts, Graphs, and MapsCharts and GraphsMaps

    Student WorkbooksActive Reading Note-Taking Guide - Student EditionChapter 1: Citizenship and Government in a DemocracySection 1: Government of the People, by the People, for the PeopleSection 2: The Path to CitizenshipSection 3: The Diversity of Americans

    Chapter 2: Roots of American DemocracySection 1: Our English HeritageSection 2: The Birth of a Democratic NationSection 3: The Nation's First Governments

    Chapter 3: The ConstitutionSection 1: The Road to the ConstitutionSection 2: Creating and Ratifying the ConstitutionSection 3: The Structure of the ConstitutionSection 4: Principles Underlying the Constitution

    Chapter 4: The Bill of RightsSection 1: The First AmendmentSection 2: Other Guarantees in the Bill of RightsSection 3: Extending the Bill of RightsSection 4: The Civil Rights Struggle

    Chapter 5: The Citizen and the CommunitySection 1: The Duties and Responsibilities of CitizenshipSection 2: Volunteering in Your Community

    Chapter 6: CongressSection 1: How Congress Is OrganizedSection 2: The Powers of CongressSection 3: Representing the PeopleSection 4: How a Bill Becomes a Law

    Chapter 7: The President and the Executive BranchSection 1: The President and Vice PresidentSection 2: The President's JobSection 3: Making Foreign PolicySection 4: Presidential Advisers and Executive Agencies

    Chapter 8: The Judicial BranchSection 1: The Federal Court SystemSection 2: How Federal Courts Are OrganizedSection 3: The United States Supreme CourtSection 4: Deciding Cases at the Supreme Court

    Chapter 9: Political Parties and PoliticsSection 1: Development of American Political PartiesSection 2: Organization of American Political PartiesSection 3: Role of Political Parties Today

    Chapter 10: Voting and ElectionsSection 1: Who Can Vote?Section 2: Election CampaignsSection 3: Paying for Election Campaigns

    Chapter 11: Influencing GovernmentSection 1: Public OpinionSection 2: The Mass MediaSection 3: Interest Groups

    Chapter 12: State GovernmentSection 1: The Federal SystemSection 2: The State Legislative BranchSection 3: The State Executive BranchSection 4: The State Judicial Branch

    Chapter 13: Local GovernmentSection 1: City GovernmentSection 2: County GovernmentsSection 3: Towns, Townships, and Villages

    Chapter 14: Dealing With Community IssuesSection 1: How a Community Handles IssuesSection 2: Education and Social IssuesSection 3: Environmental Issues

    Chapter 15: Legal Rights and ResponsibilitiesSection 1: The Sources of Our LawsSection 2: Types of LawsSection 3: The American Legal System

    Chapter 16: Civil and Criminal LawSection 1: Civil CasesSection 2: Criminal CasesSection 3: Young People and the Courts

    Chapter 17: Citizenship and the InternetSection 1: Civic ParticipationSection 2: Challenges for DemocracySection 3: Regulating the Internet

    Chapter 18: What Is Economics?Section 1: The Fundamental Economic ProblemSection 2: Making Economic DecisionsSection 3: Being an Economically Smart Citizen

    Chapter 19: The American EconomySection 1: Economic ResourcesSection 2: Economic Activity and ProductivitySection 3: Capitalism and Free EnterpriseSection 4: The Economy and You

    Chapter 20: DemandSection 1: What Is Demand?Section 2: Factors Affecting Demand

    Chapter 21: SupplySection 1: What Is Supply?Section 2: Factors Affecting SupplySection 3: Markets and Prices

    Chapter 22: Business and LaborSection 1: Types of BusinessesSection 2: Labor UnionsSection 3: Businesses in Our Economy

    Chapter 23: Government and the EconomySection 1: The Role of GovernmentSection 2: Measuring the EconomySection 3: Government, the Economy, and You

    Chapter 24: Money and BankingSection 1: What Is Money?Section 2: The Federal Reserve SystemSection 3: How Banks Operate

    Chapter 25: Government FinancesSection 1: The Federal GovernmentSection 2: State and Local GovernmentsSection 3: Managing the Economy

    Chapter 26: Comparing Economic SystemsSection 1: International Trade and Its BenefitsSection 2: Economic SystemsSection 3: Economies in Transition

    Chapter 27: Comparing Systems of GovernmentSection 1: Types of GovernmentSection 2: A Profile of Great BritainSection 3: A Profile of China

    Chapter 28: An Interdependent WorldSection 1: Global DevelopmentsSection 2: The United NationsSection 3: Democracy and Human Rights

    Haitian Creole SummariesChapit 1: Sitwayènte ak Gouvènman nan yon DemokrasiChapit 2: Rasin Demokrasi Ameriken anChapit 3: Konstitisyon anChapit 4: "Bill of Rights" laChapit 5: Sitwayen an ak Kominote aChapit 6: Kongrè aChapit 7: Prezidan an ak Branch Egzekitif laChapit 8: Branch Jidisyè aChapit 9: Pati Politik ak PolitikChapit 10: Vòt ak EleksyonChapit 11: Enfliyans Gouvènman anChapit 12: Gouvènman Deta aChapit 13: Gouvènman LokalChapit 14: Okipe Pwoblèm Kominote aChapit 15: Dwa ak Responsabilite devan LalwaChapit 16: Lwa Sivil ak KriminèlChapit 17: Sitwayènte ak Entènet laChapit 18: Ki sa yo rele Syans Ekonomik?Chapit 19: Ekonomi Ameriken anChapit 20: DemannChapit 21: Of laChapit 22: Biznis ak TravayChapit 23: Gouvènman an ak Ekonomi anChapit 24: Lajan ak Operasyon BankèChapit 25: Finans GouvènmanChapit 26: Konpare Plizyè Sistèm EkonomikChapit 27: Konpare Plizyè Sistèm GouvènmanChapit 28: Yon Monn Entèdepandan

    Reading Essentials and Study Guide - Student EditionChapter 1: Citizenship and Government in a DemocracySection 1: Government of the People, by the People, for the PeopleSection 2: The Path to CitizenshipSection 3: The Diversity of Americans

    Chapter 2: Roots of American DemocracySection 1: Our English HeritageSection 2: The Birth of a Democratic NationSection 3: The Nation's First Governments

    Chapter 3: The ConstitutionSection 1: The Road to the ConstitutionSection 2: Creating and Ratifying the ConstitutionSection 3: The Structure of the ConstitutionSection 4: Principles Underlying the Constitution

    Chapter 4: The Bill of RightsSection 1: The First AmendmentSection 2: Other Guarantees in the Bill of RightsSection 3: Extending the Bill of RightsSection 4: The Civil Rights Struggle

    Chapter 5: The Citizen and the CommunitySection 1: The Duties and Responsibilities of CitizenshipSection 2: Volunteering in Your Community

    Chapter 6: CongressSection 1: How Congress Is OrganizedSection 2: The Powers of CongressSection 3: Representing the PeopleSection 4: How a Bill Becomes a Law

    Chapter 7: The President and the Executive BranchSection 1: The President and Vice PresidentSection 2: The President's JobSection 3: Making Foreign PolicySection 4: Presidential Advisers and Executive Agencies

    Chapter 8: The Judicial BranchSection 1: The Federal Court SystemSection 2: How Federal Courts Are OrganizedSection 3: The United States Supreme CourtSection 4: Deciding Cases at the Supreme Court

    Chapter 9: Political Parties and PoliticsSection 1: Development of American Political PartiesSection 2: Organization of American Political PartiesSection 3: Role of Political Parties Today

    Chapter 10: Voting and ElectionsSection 1: Who Can Vote?Section 2: Election CampaignsSection 3: Paying for Election Campaigns

    Chapter 11: Influencing GovernmentSection 1: Public OpinionSection 2: The Mass MediaSection 3: Interest Groups

    Chapter 12: State GovernmentSection 1: The Federal SystemSection 2: The State Legislative BranchSection 3: The State Executive BranchSection 4: The State Judicial Branch

    Chapter 13: Local GovernmentSection 1: City GovernmentSection 2: County GovernmentsSection 3: Towns, Townships, and Villages

    Chapter 14: Dealing With Community IssuesSection 1: How a Community Handles IssuesSection 2: Education and Social IssuesSection 3: Environmental Issues

    Chapter 15: Legal Rights and ResponsibilitiesSection 1: The Sources of Our LawsSection 2: Types of LawsSection 3: The American Legal System

    Chapter 16: Civil and Criminal LawSection 1: Civil CasesSection 2: Criminal CasesSection 3: Young People and the Courts

    Chapter 17: Citizenship and the InternetSection 1: Civic ParticipationSection 2: Challenges for DemocracySection 3: Regulating the Internet

    Chapter 18: What Is Economics?Section 1: The Fundamental Economic ProblemSection 2: Making Economic DecisionsSection 3: Being an Economically Smart Citizen

    Chapter 19: The American EconomySection 1: Economic ResourcesSection 2: Economic Activity and ProductivitySection 3: Capitalism and Free EnterpriseSection 4: The Economy and You

    Chapter 20: DemandSection 1: What Is Demand?Section 2: Factors Affecting Demand

    Chapter 21: SupplySection 1: What Is Supply?Section 2: Factors Affecting SupplySection 3: Markets and Prices

    Chapter 22: Business and LaborSection 1: Types of BusinessesSection 2: Labor UnionsSection 3: Businesses in Our Economy

    Chapter 23: Government and the EconomySection 1: The Role of GovernmentSection 2: Measuring the EconomySection 3: Government, the Economy, and You

    Chapter 24: Money and BankingSection 1: What Is Money?Section 2: The Federal Reserve SystemSection 3: How Banks Operate

    Chapter 25: Government FinancesSection 1: The Federal GovernmentSection 2: State and Local GovernmentsSection 3: Managing the Economy

    Chapter 26: Comparing Economic SystemsSection 1: International Trade and Its BenefitsSection 2: Economic SystemsSection 3: Economies in Transition

    Chapter 27: Comparing Systems of GovernmentSection 1: Types of GovernmentSection 2: A Profile of Great BritainSection 3: A Profile of China

    Chapter 28: An Interdependent WorldSection 1: Global DevelopmentsSection 2: The United NationsSection 3: Democracy and Human Rights

    Spanish Reading Essentials and Study Guide - Student EditionCapítulo 1: La ciudadanía y el gobierno en una democraciaSección 1: Gobierno del pueblo, por el pueblo y para el puebloSección 2: El camino a la ciudadaníaSección 3: La diversidad de los estadounidenses

    Capítulo 2: Las raíces de la democracia estadounidensesSección 1: Nuestra herencia inglesaSección 2: El nacimiento de una nación democráticaSección 3: Los primeros gobiernos de la nación

    Capítulo 3: La ConstituciónSección 1: El camino a la ConstituciónSección 2: La creación y la ratificación de la ConstituciónSección 3: La estructura de la ConstituciónSección 4: Los principios de la Constitución

    Capítulo 4: La Declaración de DerechosSección 1: La Primera EnmiendaSección 2: Otras garantías de la Declaración de DerechosSección 3: Ampliación de la Declaración de DerechosSección 4: La lucha por los derechos civiles

    Capítulo 5: El ciudadano y la comunidadSección 1: Los deberes y las responsabilidades de la ciudadaníaSección 2: El trabajo voluntario en tu comunidad

    Capítulo 6: El gobierno nacionalSección 1: Cómo está organizado el CongresoSección 2: Las facultades del CongresoSección 3: La representación del puebloSección 4: Cómo se convierte en ley un proyecto legislativo

    Capítulo 7: El presidente y el poder ejecutivoSección 1: El presidente y el vicepresidenteSección 2: El trabajo del presidenteSección 3: La política exteriorSección 4: Los consejeros presidenciales y las dependencias del ejecutivo

    Capítulo 8: El poder judicialSección 1: El sistema de tribunales federalesSección 2: Cómo están organizados los tribunales federalesSección 3: La Corte Suprema de Estados UnidosSección 4: Cómo se deciden los casos en la Corte Suprema

    Capítulo 9: Los partidos políticos y la políticaSección 1: Surgimiento de los partidos políticos estadounidensesSección 2: Organización de los partidos políticos estadounidensesSección 3: Función de los partidos políticos en la actualidad

    Capítulo 10: Votación y eleccionesSección 1: ¿Quién puede votar?Sección 2: Campañas electoralesSección 3: Cómo se pagan las campañas electorales

    Capítulo 11: Influencias del gobiernoSección 1: La opinión públicaSección 2: Los medios de comunicaciónSección 3: Los grupos de presión

    Capítulo 12: El gobierno estatalSección 1: El sistema federalSección 2: El poder legislativo estatalSección 3: El poder ejecutivo estatalSección 4: El poder judicial estatal

    Capítulo 13: Gobierno localSección 1: El gobierno municipalSección 2: Gobiernos condalesSección 3: Pueblos, municipios y poblaciones

    Capítulo 14: Soluciones para las comunidadesSección 1: Cómo maneja sus asuntos una comunidadSección 2: Asuntos educativos y socialesSección 3: Asuntos ambientales

    Capítulo 15: Derechos y responsabilidades legalesSección 1: El origen de nuestras leyesSección 2: Clases de derechoSección 3: El sistema legal estadounidense

    Capítulo 16: Derecho civil y penalSección 1: Casos civilesSección 2: Casos penalesSección 3: Los menores de edad y los tribunales

    Capítulo 17: La ciudadanía y la InternetSección 1: La participación cívicaSección 2: Retos de la democraciaSection 3: Regulación de internet

    Capítulo 18: La economía y el individuoSección 1: El problema económico fundamentalSección 2: Las decisiones económicasSección 3: Cómo ser un ciudadano que sabe economía

    Capítulo 19: La economía estadounidenseSección 1: Recursos económicosSección 2: Actividad económica y productividadSección 3: Capitalismo y libre empresaSección 4: La economía y tú

    Capítulo 20: La demandaSección 1: Qué es la demandaSección 2: Factores que influyen en la demanda

    Capítulo 21: OfertaSección 1: Qué es la ofertaSección 2: Factores que influyen en la ofertaSección 3: Mercados y precios

    Capítulo 22: Empresas y TrabajadoresSección 1: Clases de empresasSección 2: Sindicatos de trabajadoresSección 3: Las empresas en nuestra economía

    Capítulo 23: El gobierno y la economíaSección 1: El papel del gobiernoSección 2: Cómo se mide la economíaSección 3: El gobierno, la economía y tú

    Capítulo 24: El dinero y los bancosSección 1: Qué es el dineroSección 2: El sistema de la Reserva FederalSección 3: Cómo funcionan los bancos

    Capítulo 25: Finanzas del gobiernoSección 1: El gobierno federalSección 2: Gobiernos estatales y localesSección 3: El manejo de la economía

    Capítulo 26: Comparación de sistemas económicosSección 1: El comercio internacional y sus ventajasSección 2: Sistemas económicosSección 3: Economías en transición

    Capítulo 27: Comparación de sistemas de gobiernoSección 1: Clases de gobiernoSección 2: Un perfil de Gran BretañaSección 3: Un perfil de China

    Capítulo 28: Un mundo interdependienteSección 1: Acontecimientos mundialesSección 2: La Organización de las Naciones UnidasSección 3: Democracia y derechos humanos

    Spanish SummariesCapítulo 1: La ciudadanía y el gobierno en una democraciaCapítulo 2: Las raíces de la democracia estadounidensesCapítulo 3: La ConstituciónCapítulo 4: La Declaración de DerechosCapítulo 5: El ciudadano y la comunidadCapítulo 6: El gobierno nacionalCapítulo 7: El presidente y el poder ejecutivoCapítulo 8: El poder judicialCapítulo 9: Los partidos políticos y la políticaCapítulo 10: Votación y eleccionesCapítulo 11: Influencias del gobiernoCapítulo 12: El gobierno estatalCapítulo 13: Gobierno localCapítulo 14: Soluciones para las comunidadesCapítulo 15: Derechos y responsabilidades legalesCapítulo 16: Derecho civil y penalCapítulo 17: La ciudadanía y la InternetCapítulo 18: La economía y el individuoCapítulo 19: La economía estadounidenseCapítulo 20: La demandaCapítulo 21: OfertaCapítulo 22: Empresas y TrabajadoresCapítulo 23: El gobierno y la economíaCapítulo 24: El dinero y los bancosCapítulo 25: Finanzas del gobiernoCapítulo 26: Comparación de sistemas económicosCapítulo 27: Comparación de sistemas de gobiernoCapítulo 28: Un mundo interdependiente

    Standardized Test Skills Practice Workbook - Student EditionActivity 1: Interpreting Charts and Tables Activity 2: Using Time LinesActivity 3: Interpreting Diagrams Activity 4: Identifying the Main Idea Activity 5: Interpreting a Visual Image Activity 6: Using a Bar Graph to Interpret Data Activity 7: Interpreting Graphs Activity 8: Interpreting Primary Sources Activity 9: Comparing and Contrasting Activity 10: Making Inferences Activity 11: Interpreting a Political Cartoon Activity 12: Persuasive Writing About an Issue Activity 13: Recognizing Point of View Activity 14: Forming Hypotheses Activity 15: Perceiving Cause-and-Effect RelationshipsActivity 16: Distinguishing Between Fact and NonfactActivity 17: Evaluating a Web SiteActivity 18: Making Decisions Activity 19: Predicting Outcomes Activity 20: Classifying Facts and DetailsActivity 21: Analyzing Graphs and TablesActivity 22: Constructing Bar Graphs to Analyze DataActivity 23: Interpreting and Evaluating EditorialsActivity 24: Outlining Information for WritingActivity 25: Analyzing Statistics to Draw ConclusionsActivity 26: Making Generalizations Activity 27: Recognizing Forms of Propaganda Activity 28: Reading a Special-Purpose Map

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