Economics Law Of Demand

Learning Objectives

1 Explain the definition of the law of demand

2 Demonstrate a basic understanding of how demand and price interact
3 Analyse real-life examples of the impact of law of demand

Key Vocabulary

Economics, Law of Demand, Price, Quantity, Products, Inverse Relation, Supply, Market, Purchasing Pow

Content Summary

This lesson introduces the law of demand in economics, a fundamental principle that describes how pri
related.

YouTube video

Demand and Supply Explained- Macro Topic 1.4 (Micro Topic 2.1)
Jacob Clifford
https://youtube.com/watch?v=LwLh6ax0zTE

Activities

Demand Warm-Up
Students brainstorm and list items they buy regularly. Class discussion on what might happen to their b
decrease.

1 Candy Store Simulation

Students are given play currency and participate in a mock candy store. Prices change throughout the a
between price and demand.

2 Real-world Impact Analysis

Students examine scenarios, like a popular toy price hike during holidays, to understand how changes

Reflection: Price vs. Purchase

Students discuss the candy store simulation and real-world scenarios, reflecting on how price changes

Assessment

Assessment of understanding through class discussion, active participation in simulation, and analyses

Differentiation

For students needing support, utilise pairing for activities. Those ready for extension can explore conce

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how demand varies.

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