A DETAILED LESSON PLAN IN

APPLIED ECONOMICS
Content Standard: The learners demonstrate an understanding of the law of
supply and demand, and factors affecting the economic situation.

Performance Standard: The learners shall be able to conduct a survey of current

economic situations within the vicinity.

I. OBJECTIVES

Given the several activities, the learners will be able to do the following with
75% proficiency:

1. explain the law of demand and supply.

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2. discuss and explain factors affecting demand and supply.
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II. CONTENT

a. Topic: The Law of Demand and Supply

b. References:

 Accountancy, Business and Management Curriculum Guide page

2
 Economics 11th edition by Roger A. Arnold, pp. 57-72

c. Materials:
 Laptop for PowerPoint Presentation
 Chocolate Bar (Cloud9)

d. Values Integration: This lesson will help students appreciate the

application of the law of demand and supply to the economic
situations in the community.

e. Methodology: 4 A’s
 III. PROCEDURE

TEACHER’S ACTIVITY STUDENT’S ACTIVITY

A. Preparatory Activities

Good morning class! “Good morning, sir!”

I. Prayer

“Please stand for the prayer.” (The students will do so.)

“Anton kindly led the prayer.” Anton will lead the prayer.
“Before you take your seats, kindly pick up the (The students will pick up the pieces of trash
pieces of trash around you and arrange your chairs under their chairs and they will arrange their
properly.” chairs.)

II. Checking of Attendance

(The teacher calls the class president assigned for
the attendance.)
“Mr. Class President, please check your classmate
“All are present, sir.”
who is not around today.”
“Very good, thank you.”

III. Collection of Assignments

“I believe I gave you an assignment last meeting.
Please collect your assignments and hand them to (The students will pass their assignments.)
me.”
IV. Greetings to the Class

“Again, good morning class!” “Good morning, sir!”

“How are you today?” “We are great sir.”

“Very good. Are you ready for another day of
“Yes, sir!”
learning?”
B. Review
“Last meeting, we discussed how applied
economics can be used to solve economic
(The students will raise their hands.)
problems. Anyone from the class who can give a
short recall about it?”

“Yes, Elsa.” “Sir applied economics can illustrate the

 potential outcomes of financial choices made
by individuals. It can also help businesses
make better decisions.”
“Very good. Applied economics can really help
businesses make better decisions and provide a
“Yes sir!”
valuable tool to our policymakers to improve the
economy of our country. Am I correct?”

C. Motivation

“Okay, now, let me ask you a question. Do you

“Yes Sir! We read about it in Facebook and
know what is COVID19 or previously known as there are news updates about it.”
nCoV (novel coronavirus)?

“Yes. It is all over the news recently. For those who

do not know anything about it. It is a virus that
originated in Wuhan, China and is affecting many
countries in the world.

“I will show you pictures depicting the situation in

our country about a certain product that is essential
during this outbreak. Kindly direct your attention to
the pictures flashed in the slide.”

“What can you see? What are your thoughts about

(Varied answers from the students)
it?”

D. Presentation of Objectives
“We can relate these to our lesson today but before
(The students read the objectives out loud)
that, I want you to read the objectives first.”

(Teacher shows the objectives to the class.)

“Are these objectives clear to you?’’ “Yes, Sir!”

“Very good. These objectives will be our guide in

our lesson today and hopefully, after our activity,
you will be able to attain the said objectives.”

E. Presentation of the Topic/Lesson Proper

“Now class, our lesson for today is about The Law

of Demand and Supply. For you to have ideas (The class listens attentively.)
about it, we will be having an activity first.

F. Developmental Activities
a. The class will be divided into two (2) groups (The students will participate in the activity)
by counting 1 to 2; those who are number 1
will be the buyers and those students who
are number 2 will be the sellers.
b. The teacher will hold up a product i.e.,
chocolate bar and ask the buyers to raise
their hands if they would buy the chocolate
bar if it cost only 5 pesos. Then, the price will
be raised to 10, 15, 20 pesos.
c. The teacher will then count the buyers who
raised their hands and will record it on the
table shown on the slide.
d. After completing the record of the number of
buyers per cost. The teacher will now ask the
sellers.
e. The teacher will again record the number of
sellers who would want to sell the chocolate
bar for the given prices.

Table 1: Number of Buyers of the Chocolate Bar

 Product CHOCOLATE BAR
Price/Cost ₱ 5.00 ₱ 10.00 ₱ 15.00 ₱ 20.00

No. of Buyers

Table 2: Number of Sellers of the Chocolate Bar

Product CHOCOLATE BAR
Price/Cost ₱ 5.00 ₱ 10.00 ₱ 15.00 ₱ 20.00

No. of Sellers

2. ANALYSIS

“Look at the table 1, what can you observe?”

Table 1: Number of Buyers of the Chocolate Bar “Sir, I observe that the lower the price of the
chocolate bar, the higher the number of
Product CHOCOLATE BAR
buyers bought it. Almost majority of the
Price/Cost ₱ 5.00 ₱ 10.00 ₱ 15.00 ₱ 20.00
buyers chose 5 pesos.”
No. of Buyers 10 4 2 1

“Very good observation! How about table 2, what can

you say about table 2?”

Table 1: Number of Buyers of the Chocolate Bar

“Sir, table 2 shows that the sellers are willing
Product CHOCOLATE BAR
to sell more when the price is higher.”
Price/Cost ₱ 5.00 ₱ 10.00 ₱ 15.00 ₱ 20.00

No. of Buyers 0 2 3 12

“Now, in your own idea, what could be the other

possible reasons or factors why more buyers are willing “Sir! I think it depends on a buyer’s income.
to buy the chocolate bar at a lower price? Like in our Like if I am a low-earner I can afford the
community why some people tend to buy things at a chocolate bar at only 5 pesos
lower price?”

“As for me Sir, I think it also depends on a

“Very good. Anything else?” buyer’s preference

“Yes! You have a point.”

3. ABSTRACTION
 “Sir, demand is the willingness and ability of
“Income and preference have something to do with the
buyers to purchase quantities of goods at
Law of Demand. Anyone who knows what demand is?” different prices.”

“Yes excellent. From the activity we conducted, 10

students are willing and able to buy the chocolate bar at
5 pesos—that is basically demand.”

Please, kindly read. What is demand. (Students read out loud)

“So here is a question class—do you think people in our

place will buy more kilos of native rice at 45 pesos per
kilo than at 100 pesos per kilo? Who said yes? Who said
no?”
“If you answered yes, you instinctively understand the
law of demand. Okay, all together kindly read law of (Students read out loud)
demand.” Kindly read what is law of Demand.

“Do you understand class?” “Yes, Sir”

“Very good. Just remember that the price and quantity

demanded is inversely related. If the price rises, the
quantity demanded falls. Now, any idea what supply?

“Supply is willingness and ability of sellers to produce

and offer to sell different quantities of a good at
different prices during a specific time period.”

“Very good. Altogether, kindly read the law of supply.”

“Law of Supply states that as the price of a good rises,

the quantity supplied of the good rises and as the price
(Students read out loud)
of a good falls, the quantity supplied of the good falls,
ceteris paribus.”

(The teacher will give an example of the law of supply,

and she will reiterate what the law of supply is.)

“Class, let us know some of economist who introduced

the word demand and supply”
(Teacher discuss some economist who introduced the
word supply and demand)

This time the teacher will show an exhibit of a market

that ties together demand and supply as well as the (Students Listens)
factors affecting the law of demand and supply.

4. APPLICATION
ACTIVITY
LET’S DO IT! (10 mins.)
Each group will present three examples of supply and
demand that will portray how law of demand and supply
happened in our everyday live.

“Do you have questions? Additional information? Violent “None, Sir”

reactions?”.
Okay, let us assess whether you have understood our
topic or not
V.EVALUATION
LET’S DO IT! (10 mins.)

In a 1 whole sheet of paper the students will answer the

following:
What is the law of demand?
What is the law of supply?
How does the price of related goods affect demand? Cite
an example or situation.
How does tax affects supply? Cite an example or
situation.
VI.ASSIGNMENT

LET’S DO IT!

“Choose a partner and conduct a survey of the current

economic situations in our town. Compare the prices of
commodities and analyze the impact on the consumers
as well as the sellers. Write your
findings in a whole sheet of paper.”
Prepared by: Rey S. Arroyo