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SUPPLY DEMAND LESSON PLAN DIFFERENCE INTRO ECONOMICS NUMBERS WORKSHEETS ELEMENTARY SKILLS PROGRAM COURSE BASIC TEACHING LEARNING SAMPLE EXAMPLE HELP WORK STUDENTS TEACHER CLASS EXERCISE ONLINE GUIDE ACTIVITY

 

 

 

Students learn basic economics with a classroom economy.

 
 

MONEYINSTRUCTOR-NOMICS
CLASSROOM ECONOMY:

Supply and Demand

 

This lesson will focus on the ways that an increase in supply can effect demand and on the ways that an increase in demand can effect future supply.  Students will also discover how fluctuations in supply and demand affect pricing.

The study of supply and demand will aid students in pricing their goods and services when they enter the entrepreneur phase of MoneyInstructor-nomics.  It will also help them to understand the economic processes going on around them in their day-to-day lives.

Teaching Objectives:

  • Students will define supply and demand.
  • Students will describe the effects of demand exceeding supply.
  • Students will describe the effects of supply exceeding demand.
  • Students will give examples of supply exceeding demand.
  • Students will give examples of demand exceeding supply.

Suggested Grades:

Second Grade - Third Grade - Fourth Grade - Fifth Grade

 
 
 

SUPPLY AND DEMAND LESSON PLAN

 


Teaching Materials

  • Lesson - Supply and Demand (see below for printable lesson)

  • Approximately 150 MoneyInstructor-Bucks – divided as shown
  • 1 undesirable treat:  half-used eraser, a chewed-up pencil stub, a bag of pencil shavings from the pencil sharpener, chewed up bubble gum, or no-credit extra homework)
  • Enough desirable treats for the entire class: cupcakes, decorated cookies, homework passes, new pencils, or any inexpensive thing that most of your class would be interested in having.


Lesson Excerpt:

The laws of supply and demand explain how the market determines the price and quantity of goods to be sold.  Supply refers to the quantity of a certain good or service that is available for people to purchase. Demand refers to the number of people who are willing and able buy that good or service at a certain price.

Activity:

1.  Give each student a grant of between 4 and 10 MoneyInstructor-Bucks (MIB).  Just as in real life, some people will have fewer resources than others.  Although the grants will be randomly distributed, the breakdown should look something like this:

4 MIB  - 3 grants
5 MIB – 4 grants
6 MIB – 5 grants
7 MIB – 5 grants
8 MIB – 4 grants
9 MIB -  2 grants
10 MIB – 1 grant

*Divide up the MIB before the lesson so that it can be distributed quickly. 

2.  Tell students that you will auction off two different items today.  In each of the two auctions, the item will go to the highest bidder.  Tell the students your behavioral expectations for the auction process.   Tell students that if they do not win anything today, they will be able to keep their MoneyInstructor-bucks grant.

 

Continued...


 


Lesson Printable Materials - Worksheets

Print out the teaching lesson pages and exercise worksheets for use with this lesson:
  

SUPPLY AND DEMAND

Supply and Demand Lesson *

Printable lesson worksheet and activity.

 

 

 

 

 

 

 

 

 

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