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APPLIED

ECONOMICS
MARIANO C. MALANA
UNFREEZING ACTIVITY

PLAY
ACTIVITY 1(15 minutes)
Let’s imagine the room as a
market and divide the class
into two (2) groups, the first
group will act as the BUYERS
while the other group will be
the SELLERS.
BUYERS
the buyers group will list down
their 10 demands in life (any
useful thing/anything that can
be bought) in 2 minutes; and
post their list, written on meta
cards, on the blackboard right
after their time.
SELLERS
 let the sellers group will give prices on
each commodities, written by the buyers
group, ranging to 100 pesos as a
maximum price and 1 peso as the
minimum price in 2 minutes; and
 let them label the prices of the
commodities by writing it on the meta
cards and post it on the board.
Guide questions: (5 minutes)
1. On the buyers group, what
made them list those
commodities as their
demands?

2. On the sellers group, what


made them to label such
prices for every commodity?
ACTIVITY 2 (5 minutes)
On the given activity, let each of the
students bring out 1/8 sheets of paper and
answer the following questions:
1. If you were given a 200 bill in hand,
among all the commodities written in the
blackboard, what are those demands
you will going to purchase?
Example: Sports car: 100, Iphone: 20, House,
and Lot: 80 = 200 in equivalence.
2. Each of your commodities will be written
on every 1/8 sheet of paper.
SUPPLY AND DEMAND
1. Professional athletes: How much is a
superstar in the PBA paid compared to
an average player?
2. Gadgets: Do you think you'd pay more
for antique oldest phone or an Iphone
8 cellphone (assuming that both are in
good condition)?
3. Rocks: Which costs more, diamonds or
gravel?
The total amount of a good
or service available for
purchase; along with
demand, one of the two key
determinants of price. A
change in the price of the
product will cause a change
in quantity supplied.
The willingness and ability
of the people within a
market area to purchase
particular amounts of
goods or services at a
variety of alternative prices
during a specified time
period.
The Law of Supply and
Demand:
The price of an item will go down if
the supply increases or if the demand
for the item decreases. The price of
an item will go up if the supply
decreases or if the demand for the
item increases. In general, the price
of an item is usually pushed toward
the level at which the quantity
supplied will equal the quantity
demanded.
ACTIVITY 3
The same group, the teacher
will ask each group to
combine the commodities
with prices written by each
member and make a graph
related to the first activity.
EVALUATION
What effect do you
think the law of
supply and demand
has on your life?