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Lesson Plan
Supply and Demand
Do you want an interactive lesson that puts all the decision making in the palm of your students' hands? Supply and demand is a fun, interactive, and hands on activity that will help your students understand economics on a smaller scale.
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Subject
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Learning Objectives
Students will understand the impact of individual and group decisions at a local level, the concept of supply and demand, and how prices and product availability play into the demand of objects.
Introduction
(10 minutes)
- Tell your students that they are going to learn about supply and demand today.
- Give your students an introductory an example such as You’re in the cereal aisle of a grocery store. You go to grab a box of Fruit Loops, but realize they are all out. You see the label where they normally are and notice that they are on sale for $1.79. You look at the surrounding labels and notice all the other cereal boxes are over $2. You realize that the Fruit Loops are all gone because by buying them other customers were getting a deal and saving money.
- Have your class discuss this example.