Equilibrium Lesson Plan

STUDENT: Karly Beavers

GRADE / SUBJET: !"
#$
%ra&e / E'onomi's
S())L: Tarran# (i%$ S'$ool
SUPER*+S+NG TEA(ER: ,r- Bobba
DATE: A.ril "/0 "1!"
EST+,ATED LESS)N T+,E: 21 minu#es
Su..ly0 Deman&0 an& Equilibrium
Main Idea: T$e rela#ions$i. be#3een su..ly an& &eman& &e#ermines #$e .ri'e o4 a
.ro&u'# an& $o3 mu'$ o4 #$a# .ro&u'# 5quan#i#y6 is .ro&u'e&- 7$en su..ly is equal #o
&eman& a# a 'er#ain .ri'e an& quan#i#y0 #$a# .ro&u'# $as rea'$e& equilibrium-
Bellringer: 7ri#e #$e name o4 your 4avori#e res#auran#- 7$a# is your 4avori#e &is$ a# #$is
res#auran#8 (o3 mu'$ &oes i# 'os#8 No3 #$in9 abou# 3$y you love #$is meal so mu'$-
+4 i# 'os# :!-11 more0 3oul& you s#ill or&er i#8 7$y or 3$y no#8 7$a# i4 i# 'os# :2-11
more8 :;-11 more8 E<.lain your ans3er-
Before: Pos#=i# revie3
During: Survey an& %ra.$
After: Tes# yoursel4
Lesson Objectives:
> S#u&en#s 3ill be able #o &i44eren#ia#e be#3een su..ly an& &eman& an& i&en#i4y
.ro&u'ers as su..liers an& 'onsumers as buyers-
> S#u&en#s 3ill be able #o un&ers#an& an& e<.lain #$e inverse rela#ions$i. be#3een
.ro&u'ers an& 'onsumers-
> S#u&en#s 3ill be able #o %ra.$ an e<am.le o4 su..ly an& &eman& an& lo'a#e #$e
equilibrium .ri'e-

State Standards:
S-S- !"-?: Des'ribe $o3 s.e'iali@a#ion an& volun#ary e<'$an%e be#3een buyers an&
sellers lea& #o mu#ually bene4i'ial ou#'omes-
> +llus#ra#in% on a #able an& a %ra.$ #$e la3 o4 su..ly an& &eman&
> +llus#ra#in% on a #able an& %ra.$ $o3 su..ly an& &eman& &e#ermine
equilibrium .ri'e an& quan#i#y
Before Activity:
A qui'9 Po3erPoin# .resen#a#ion 5a##a'$e&6 an& &is'ussion 3ill serve #o a'#iva#e .rior
9no3le&%e o4 su..ly an& &eman& 53$i'$ 3as 'overe& in #$e .revious '$a.#er6- T$ere
3ill be #3o .os#ers on #$e 3allAone labele& La3 o4 Su..ly an& #$e o#$er labele& La3 o4
Deman&- Ea'$ %rou. 3ill be %iven .os#=i# no#es- A lis# o4 e<am.les 3ill be .resen#e&-
As a %rou.0 s#u&en#s 3ill $ave #3o minu#es #o '$oose an& 3ri#e #3o e<am.lesAone
e<am.le o4 #$e la3 o4 su..ly an& one e<am.le o4 #$e la3 o4 &eman&- T$ey 3ill #$en
.os# #$eir e<am.les on #$e 'orres.on&in% .os#er-
During Activity:
> 7i#$in #$ese same %rou.s0 s#u&en#s 3ill be %iven a T=s$ir# #em.la#e- T$ey
3ill $ave 4ive minu#es #o &esi%n a T=s$ir# 4or #$eir senior 'lass- T$ese T=s$ir#s 3ill
be &is.laye& alon% #$e boar&-
> S#u&en#s 3ill re'eive 3or9s$ee#s ! an& " 5a##a'$e&6- T$ey 3ill be as9e&
as 'onsumers $o3 mu'$ #$ey 3oul& be 3illin% #o .ay 4or any one o4 #$ese T=
s$ir#s- T$e #ea'$er 3ill '$ar# #$is in4orma#ion un&er #$e label BDeman&C on #$e
boar& 3$ile s#u&en#s re'or& #$e in4orma#ion on #$eir 3or9s$ee#s- T$e #ea'$er 3ill
#$en %ra.$ #$ese resul#s on #$e .roDe'#or 3$ile s#u&en#s %ra.$ #$e in4orma#ion on
3or9s$ee# "- T$is line 3ill be labele& B&eman&-C
> Ne<#0 #$e s#u&en#s 3ill be remin&e& #$a# #$ey 3or9e& $ar& #o 'rea#e #$ese
s$ir#s- T$ey s.en# money0 #ime0 an& su..lies #o manu4a'#ure #$eir .ro&u'#- As
.ro&u'ers0 $o3 many o4 #$em 3oul& 3an# #o sell #$eir s$ir# 4or :18 :2 5e#'-68
T$is in4orma#ion 3ill be %ra.$e& an& labele& Bsu..ly-C
> T$e s#u&en#s 3ill be as9e& 3$a# #$ey no#i'e abou# #$is %ra.$- 7$a# 9in& o4
rela#ions$i. &o #$ey see8 As .ri'e %oes u.0 3$a# $a..ens #o &eman&8 Su..ly8
As .ri'e %oes &o3n0 3$a# $a..ens #o &eman&8 Su..ly8
> S#u&en#s 3ill #$en be ins#ru'#e& #o 'ir'le #$e .oin# 3$ere su..ly an&
&eman& mee# on #$e %ra.$- T$ey 3ill label #$is Bequilibrium-C S#u&en#s 3ill be
as9e& i4 #$is 3or& soun&s li9e any o#$er 3or& #$ey $ave $ear& be4ore 5i-e-0
equal6- T$e #ea'$er 3ill e<.lain #$a# equilibrium is 3$en su..ly equals &eman&-
> Erom #$eir %ra.$s0 s#u&en#s 3ill &e#ermine #$e equilibrium .ri'e an&
quan#i#y- T$e #ea'$er 3ill s$o3 s#u&en#s $o3 #o 4in& #$e equilibrium .ri'es usin%
#$e .roDe'#e& %ra.$- S#u&en#s mus# #$en 4in& #$e equilibrium quan#i#y- T$is
in4orma#ion 3ill be re'or&e& on #$eir 3or9s$ee#-
After Activity:
S#u&en#s 3ill be #ol& #o .re#en& #$a# #$ey are #$e #ea'$er 'rea#in% a qui@ 4or #o&ayFs
lesson- )n a .os#=i# no#e0 #$ey 3ill 3ri#e #$eir name an& one ques#ion #$a# 'oul& be
in'lu&e& in #$is qui@- T$ey 3ill #$en ans3er #$is ques#ion an& .os# i# on #$e boar& be4ore
leavin% #$e 'lassroom- +4 #ime allo3s0 s#u&en#s 'an qui@ ea'$ o#$er as 3ell-