#207. Economics

Social Studies, level: Senior
Posted by Carmelita Vizmanos (LylethS@aol.com).
Philippine Normal University, Manila, Philippines
Materials Required: Lesson plan
Activity Time: 40 minutes
Concepts Taught: Law of Supply and Demand

For this activity, begin after you have introduced the basic ideas of law of supply and demand. Group the students into producers, middlemen, retailers and consumers. Let the students focus on one product and make the transaction of product movement from producers to consumers. Give a scenario of low production and high demand and reverse the situation. Assist the students in coming up with prices, bearing in mind the effect of prices on supply and demand.