Lesson 2.1 – You Supply They Demand
This is Lesson 2.1 (“You Supply They Demand”) from the National FFA Agri-Entrepreneurship Program, Unit 2. Using a class auction activity, a graphing worksheet, and a company price-comparison exercise, students learn to define and explain supply and demand and apply the principle to real-life examples. The lesson includes an interest approach, two objective-based activities, review, application activities, and an assessment quiz.
At a glance
- Learning objectives
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- Define and explain supply and demand.
- Apply the supply and demand principle to real life examples.
- Time required
- 75 minutes
- Grade level
- 9-12
- Materials
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- Something of value that each student would want to have (enough for each student in the class; e.g. candy, trinkets, a photo of a new product)
- Tokens, multiple colors of poker chips or play money to use in the auction with students
- Copies of the Lesson Assessment and AS.1 for each student
- One copy of TM.1 as a transparency or one copy for each student as a handout
- Precepts
- A. Action — A3. Plan effectively; A8. Evaluate and reflect on actions taken and make appropriate modifications. N. Decision Making — N1. Demonstrate the decision making process. O. Flexibility and Adaptability — O1. Manages change
- Key Terms
- Supply; Demand
- Evaluation
- Quiz – Lesson Assessment; Assess.1
Downloads & Links
Aligned Standards
National Standards
- NM-DATA.9-12.3Develop and evaluate inferences and predictions that are based on data.
- NSS-EC.9-12.8Supply and Demand.