10th Grade Demand Lesson Plan Example (Economics)

Topic: Demand and price

Objectives & Outcomes

• Students will be able to explain how demand and price are related and how changes in one affect the other.

Materials

• Graph paper
• Pencils
• Calculator
• Demand and price graphs (either real-world or created for the lesson)

Warm-up

• Ask students to think about a recent purchase they made, such as a meal at a restaurant, an item from a store, or a service like a haircut.
• Have them share their purchases with the class and discuss why they made those purchases.
• Ask students to think about why the seller offered the item for the price they did.
• Have a discussion about how demand and price are related.

Direct Instruction

• Introduce the concept of demand, explaining that it refers to the amount of a product that consumers are willing and able to buy at a given price.
• Explain that price is an important factor in determining demand, since higher prices mean that consumers have less money to spend on other goods, and lower prices may encourage consumers to buy more since they can afford it.
• Use the handout or appropriate materials to provide examples of how demand and price work together.
• Emphasize that demand is not constant, but changes based on factors such as the price of related goods, consumer income, and consumer tastes.

Guided Practice

• Have students work in pairs to analyze a given product or industry, considering the factors that affect demand, such as price and the availability of substitute goods.
• Have each pair present their findings to the class, and discuss as a group how these factors impact demand.

Independent Practice

• Have students choose a product or industry for which they can find current data on demand, price, and the availability of substitute goods.
• Have students use this data to create a graph or chart showing the relationship between demand and price for the chosen product or industry.
• Have students present their findings to the class, and discuss how the graph or chart supports their analysis of how demand and price interact.

Closure

• Review the main points of the lesson, including the factors that affect demand and the law of demand.
• Ask students to share one thing they learned about demand and price during the lesson.

Assessment

• Have students complete a written quiz or test to assess their understanding of the law of demand and how demand and price interact.
• Use the project-based activity as a form of assessment, evaluating students' ability to apply the concept of demand in a real-world scenario.