NATIONAL CURRICULUM STATEMENT

ECONOMIC AND MANAGEMENT SCIENCES

LESSON PREPARATION
TERM 2

GRADE 9 SUBJECT EMS WEEK(S): 4 HOURS: 30 MINUTES PERIOD: 1

DURATION:
DATE STARTED: DATE COMPLETED:

TOPIC:
THE ECONOMY
PRICE THEORY
LINKS WITH PREVIOUS LESSON: LINKS WITH NEXT LESSON(S):
 The Circular Flow  Demand curve

CONTENT: KEY TERMS (VOCABULARY):

 What is demand, Law of demand Demand. Law of demand, Market

TEACHER ACTIVITIES LEARNER ACTIVITIES DURATION

BASELINE:  Learners listen and respond to Baseline: 5min
Learners already know what is a need and want. They know questions posed by the teacher.
markets, different types of markets and the activities that take place
at the market.

Ask learners the following questions:

Q: What is a market?
A: A market is a place where buyers and sellers meet to do
business in exchange for goods and services by using money as a
medium of exchange.
Prices are determined in the market. Buyers demand goods which
sellers must supply.
Q: Define a need and a want.
A: A need is something you cannot live without and a want is
something you can live without.
 Demand for a product is not the same as a need or want. Most
people want things that they cannot afford to buy, these wants
do not represent a demand for the product as we cannot afford
to pay for them.

Price Theory
 This module looks at how the concepts of demand and supply  Teacher explains, learners listen and
influence market prices. ask clarity seeking questions.
 The economic problem of scarcity results in the forces of
demand (originating from consumers’ wants) and supply  Learners take notes down in their
(producers’ reaction). class work books.
 The forces of demand and supply leads to the creation of
markets.
 Demand and supply are market forces that determine prices.
 Prices are determined at the consumer market and the factor
market.
Demand
 Demand is defined as the quantities of a product that
consumers/buyers are willing and able to buy at specific prices
at a specific time. Lesson: 20min
 Demand for a product is not the same as a need or want. Most
people want things that they cannot afford to buy, these wants
do not represent a demand for the product as we cannot afford
to pay for them.
Law of demand
 The law of demand states that when the price of a product
increases, the demand for that product will decrease. When the
price of a product decreases, the demand for that product will
increase.
 This means that there is an inverse relationship between the
price and the quantity demanded.
Demand Schedule
 Demand schedule is a table which shows the quantity
demanded of a product at different prices.
 Learners are given Activity 1 to complete in class and if not to be  Learners start on activity 1 in class and
Activity 1: 5min
completed at home. complete at home.
 TEACHING STRATEGY/ METHODOLOGY
Co- operative learning  Lecture / Direct instruction
Discussion  Visual/ Practical Demonstration 
Explanation  Simulation
Observation  Use of technology and instructional resources 
Question and answer  Role playing
Pre-test Interviews
Other : Other:
ASSESSMENT
FORM TOOL METHOD
Data Response Poster Memorandum  Baseline 
Project Class work  Rubric with scales/Criteria Formal
Case Study Homework Checklist Informal 
Control Test Assignment Observation Sheet Educator 
Examinations Class Test Other: Self 
Debate Data Response Peer 
Drama Other : Other :
RESOURCES: OHP/Whiteboard/ Chalkboard/Worksheets/Hand-outs, pencils, pens, Textbook(s), Charts, class notes.

TEACHER REFLECTION EXPANDED OPPORTUNITIES/ ENRICHMENT

______________________________________________________
______________________________________________________
______________________________________________________

Name of Teacher: ____________________________ HOD: _________________________________

Signature: __________________________________ Signature: _____________________________

Date: _____________________________________ Date: _________________________________

Support Material

ACTIVITY:
Class work

Define the following concepts:

1. Demand
2. Law of demand
3. Demand schedule

POSSIBLE ANSWERS:

1. Demand is defined as the quantities of a product that consumers/buyers are willing and able
to buy at specific prices at a specific time.

2. The law of demand states that when the price of a product increases, the demand for that
product will decrease. When the price of a product decreases, the demand for that product
will increase. Demand schedule is a table which shows the quantity demanded of a product
at different prices.

3. Demand schedule is a table which shows the quantity demanded of a product at different
prices.