Chapter 4: Lesson 1:

To be able to explain how demand

helps societies determine WHAT,
HOW, and FOR WHOM to
produce.
 Success criteria:

I can define demand.

I can explain the relationship of price and
demand.
Mind map! ( 5 mins)
What comes to your mind?

Demand
Let’s watch a video! (7 mins)

Write two sentences about the relationship of demand and price shown
in video.

https://www.youtube.com/watch?v=Ng3XHPdexNM
What is demand?
A combination of quantities that someone would be willing and able to buy over a
range of possible prices at a given moment.
 Let’s analyze the relationship between
price and demand:

Share your personal experiences and examples.

Teach the Teacher (5 mins)
Plot the graph to find the effect of changes in price on the quantity
demanded (10 mins)

Explain the direction of your curve

In general, when the price of a product goes down, people are willing to buy, or
demand, more of it.
When the price goes up, they are willing to buy less.
A demand curve shows the quantity of a product demanded at each price that might
prevail in the market.
Exit ticket in Google Classroom
To be able to paraphrase the Law of
Demand.
 Success criteria:
● I can describe law of demand.
● I can list the factors that cause a
shift in demand.
Entry Ticket! (5
mins)
Let’s recall some vocabulary words by playing
a game! (5 mins)
Let’s watch a video! (Edpuzzle)

Law of demand: (7 mins)

https://edpuzzle.com/media/615f655025ee324132045868
What is law of demand? ( 5 mins)
Share your answers with examples.
Teach the Teacher (5 mins)
Feedback and Questioning time!
What is law of demand?
The Law of Demand states that the quantity demanded of a product varies inversely with its
price.
The Law of Demand is called a “law” because it has proven true after repeated studies and tests,
and it is consistent with common sense and observation.
Research the Impact of Covid-19 on demand: (20
mins)
Pair 1: How pandemic has impacted the demand of the products? (Choose different
sectors to analyze)

Pair 2: Given consumers' mood during the pandemic in world,

what can be done to decrease their fear, what will be the strategies used by
government to avoid food shortages so people can buy less products?
Use graph to support your answer.
Share your research!
Circle how you are feeling:
To be able interpret and create
demand schedules.
 Success criteria:
● I can create demand schedules and
describe the role of market in the
process.
● I can explain how to interpret
demand curves.
Bellringer! ( 5 mins)

What is demand schedule?

What is demand schedule?
It refers to the listing of how much of an item an individual is willing to purchase at
each price.
What is difference between individual demand
schedule and market demand schedule? (5 mins)
Let’s watch a video!
https://www.youtube.com/watch?v=HzRwN7YCXnY
Teach the Teacher (5 mins)
Analyze the graph: (Individual schedule) Pair 1 (7
mins)
Analyze the graph: (Market schedule) (7 mins) Pair 2
Group Work! (10 mins)
Create a list, Choose from the list a product that they would like to sell, and set a
range of three to five possible prices they might charge for it. Group members
should then survey five classmates to see what quantities they would buy at each of
the prices. Have each group compile the data into a demand schedule. Then direct
the groups to use their demand schedules to graph a market demand curve for their
product.
List: (Corns, Apples, Wheat, carrots, potatoes, grapes etc)
Draw or type 2 things you learned in today’s lesson:
To be able specify the factor that
causes a change in the quantity
demanded.
 Success criteria:
● I can list the factors that affect the
demand.
● I can explain the factors that cause
a shift in demand include consumer
tastes, substitutes, complements,
expectations, and the number of
consumers.
Entry Ticket (5 mins)
What was law of demand?
GETTING READY (5 mins)
What stops you from buying a product?
What makes you want to buy a product?
Let’s watch a video! Connect-ed (15
mins)
1. How does global demand for more food affect the price of corn and
Soybeans?
2. How do bad weather and higher fuel prices affect the price of food?
3. Food prices continue to climb, and consumer wages remain flat. What
effect does this have on food purchases?
Change in demand:

Consumer demand for different amounts at every price, causing the

demand curve to shift to the left or the right.
Factors that affect the demand are:
1. Consumer Income
2. Consumer Tastes
3. Substitutes
4. Complements
5. Expectations
6. Number of Consumers
Teach the Teacher (5 mins)
Up and Down Game!
The price of DVDs goes up, but income remains the same: “Will quantity demanded for DVDs go up
or go down
The price of tea goes up, but the price of coffee remains the same, Will the demand of tea will go up?

(Different scenarios will be presented on jamboard)

Kahoot time

https://create.kahoot.it/details/6657a07a-6f
26-44c2-a201-3b156f185558
Draw or type 2 things you learned in today’s lesson: