Our Supply and Demand lesson plan introduces students to the concept of supply and demand. Most students purchase products and services either using parent’s money or an allowance or income they have earned. It is important for students to understand supply and demand as it relates to the cost of the products they purchase or the products they wish to purchase in the future. During this lesson, students are asked to answer questions about supply and demand based on the lesson material. Students are also asked to create graphs for given scenarios.
At the end of the lesson, students will be able to define and explain the concept of supply and demand and use specific examples to demonstrate the use of supply and demand as it relates prices and purchases.
Common Core State Standards: CCSS.ELA-LITERACY.RI.5.3, CCSS.ELA-LITERACY.RI.5.4, CCSS.ELA-LITERACY.RI.6.3, CCSS.ELA-LITERACY.RI.6.4