1. Topic-
|
| Interactions of Supply, Demand, and Pricing |
| |
|
2. Content-
|
identify the determinants that create changes in supply, demand,
and price; and
interpret a supply-and-demand graph using supply-and-demand schedules |
| |
|
3. Goals: Aims/Outcomes-
|
1.Students will be able to define the terms supply and demand.
2.Students will better understand how items are priced.
3.Students will be able to analyze supply-and-demand graphs using
supply-and-demand schedules. |
| |
|
|
4. Objectives-
|
1.Students will work in groups collectively.
2.Students will communicate with peers in a professional manner.
3.Students will listen to each other and respond in a professional
manner. |
| |
|
5. Materials and Aids-
|
Colored Pens
Paper
Computer Lab Day
Projector
Supply and Demand Charts and graphs
Magazines |
| |
|
6. Procedures/Methods-
|
|
A. Introduction-
1. Ask students how much they would spend when buying 10 different
products.
|
| |
|
|
B. Development-
1. Define supply and demand in the academic sense of the term.
2. Use charts and graphs to allow students to see how supply and demand
works in the market place.
3. Make a fake business and discuss pricing options with students. |
| |
|
|
C. Practice-
1.Have students, in groups of 4, clip 10 images of products from
the magazines and determine what they would charge to sell the item.
2. Group discussion about why they charged what they chose to charge.
3. Assessment: find out student motivation for determining these prices. |
| |
|
|
D. Independent Practice-
1.Put everyone back into their groups of 4 and have them find four
products, one each, in different price ranges.
2. Research that product and determine how many are produced, who
would use the item, and relate how it is priced to supply and demand.
3. Go to the computer lab and produce a presentation explaining your
products and why they are priced as they are. Determine whether this
matches the ideal of supply and demand theory. |
| |
|
|
E. Accommodations (Differentiated Instruction)-
| Depend on classroom IEP's. |
| |
|
|
F. Checking for understanding-
1. Group presentations.
2. Grade based upon rubric given to students.
|
| |
|
|
G. Closure-
| 1. Pass back comments and reteach anything that may need to be retaught. |
| |
|
7. Evaluation-
|
1.Formal Assessment: Rubric for Presentation
|
| |
|