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Introduction to Supply and Demand – What is Supply and Demand? – Supply is how much of something is available, demand is how much it’s wanted. – Their role in daily life – They help decide prices of toys and snacks! – Basics with familiar examples – Example: If many kids want the same toy, but there’s only a few, it might cost more. – How they affect what we buy | Begin the lesson by explaining the concepts of supply and demand in simple terms. Relate the ideas to everyday situations the students are familiar with, such as the availability of toys or their favorite snacks. Discuss how supply and demand work together to determine the price of goods. Use examples like a popular toy around the holidays or a lemonade stand in the summer to illustrate these concepts. Encourage the students to think of other examples where they have seen supply and demand in action, such as a sold-out movie or a clearance sale at a store.

Understanding Supply in the Market – What is Supply? Supply is the amount of something that is available to buy. – Supply in everyday life Like the number of apples you can find in a store. – Counting our supply If a store has 10 apples, then the supply of apples is 10. – Supply affects choices | This slide introduces the concept of supply to third-grade students. Begin by explaining that supply is how much of something is available, such as toys, fruits, or books. Use everyday examples like apples in a grocery store to make the concept relatable. Engage the class by counting items to demonstrate supply, such as the number of apples available for sale. Highlight that the amount of supply can affect what and how we choose to buy things. For instance, if there are only a few apples, we might decide to buy oranges instead. Encourage students to think of examples of supply from their own experiences, like the number of snacks at home or books in the classroom.

Understanding Demand in Supply and Demand – What is demand? – Demand means how much people want something. – High demand example: apples – If all classmates want an apple, we have high demand for apples. – Limited apples, high demand – What if we want many apples but only have a few? – Effects of limited supply on demand – When there aren’t enough apples for everyone, how does that make you feel? | This slide introduces the concept of demand to third-grade students by relating it to a tangible example involving apples, a familiar item. Start by explaining that demand is the desire or need for a particular item. Use the example of everyone in the class wanting an apple to illustrate high demand. Then, pose a question about what happens if the number of apples is less than the number of students who want them, leading to a discussion on how demand can exceed supply. This sets the stage for understanding the basic principles of supply and demand. Encourage students to think of other examples where they wanted something that was in limited quantity and how that made them feel or react.

The Balance of Supply and Demand – Supply & demand set prices – Low supply + high demand = $$$ – Ever seen empty store shelves? – Think of a popular toy that s sold out. – Why some toys are hard to get? – Like when a new toy comes out and everyone wants it! | This slide introduces the basic concept of supply and demand and how they affect prices. Start by explaining that ‘supply’ is how much of something is available, like how many toys are in a store, and ‘demand’ is how much people want those things. When there aren’t many toys but lots of kids want them, the price goes up because it’s more special to get one. Ask the students if they remember a time when they went to the store and couldn’t find a toy they wanted because it was sold out. This real-life example will help them understand why sometimes things are more expensive or hard to find. Encourage them to think about the hottest toys during holiday seasons or popular video games that are new on the market.

Supply and Demand: Real World Examples – Holiday toy rush – High demand for toys, but stores may run out! – Ice cream on sunny days – More people crave ice cream when it’s hot. – Lemonade stand in summer – Sunny days mean more lemonade sales. – Weather impacts supply & demand – Rain or shine can change how much we buy or sell. | This slide aims to help students understand the concepts of supply and demand through relatable examples. Discuss how during the holiday season, toys are in high demand, leading to a shortage in supply. Explain that on hot days, the demand for ice cream increases because more people want to cool off. Use the example of a lemonade stand to show how good weather can increase demand for a refreshing drink, affecting both supply and demand. Highlight how weather can influence people’s buying habits, affecting the overall supply and demand. Encourage students to think of other examples where supply and demand are affected by seasons, weather, or special events.

The Lemonade Stand Game: Learning Supply & Demand – Play the Lemonade Stand Game – Make lemonade for your classmates – Decide how much to prepare for the class – Observe demand from friends – Count how many classmates ‘buy’ your lemonade – Watch prices change with supply/demand – Notice if the price goes up or down when you have a lot or a little lemonade | This interactive class activity is designed to help students grasp the concepts of supply and demand through a fun and engaging game. Each student will act as a lemonade stand owner deciding on the amount of lemonade to prepare. Classmates will play the role of customers, and their interest in ‘buying’ will represent demand. Observe and discuss how the availability of lemonade (supply) and the interest of classmates (demand) affect the price. For example, if many students want lemonade but there’s not much available, the price might go up. Conversely, if there’s a lot of lemonade but not many buyers, the price might go down. This hands-on experience will help students understand the dynamics of the marketplace in a simplified setting. Teachers should prepare different scenarios to demonstrate how supply and demand work, ensuring that students can see the effect on price with varying levels of supply and demand.

Understanding Supply and Demand – Importance of supply and demand – It helps us know why things cost what they do. – Making smart choices – Knowing supply and demand helps us decide when to buy things. – Examples in daily life – Think of toys or school lunches. When are they in high demand? – Class discussion | This slide aims to wrap up the lesson on supply and demand by emphasizing its importance in everyday life. Understanding supply and demand helps us comprehend why prices change and how availability of products can affect what we buy. Encourage students to think critically about how this concept plays a role in their own lives, such as the demand for popular toys or the supply of food in the cafeteria. Initiate a class discussion where students can share their thoughts and examples from their experiences at home or in school. This will help solidify their understanding and see the practical application of the concepts learned.

Class Activity: Market Role Play – Transform our class into a market – Some students will be sellers – You’ll have items to ‘sell’ to classmates – Others will become buyers – You’ll use ‘money’ to ‘buy’ items you want – Observe supply and demand in action – Watch how prices change with supply & demand! | This activity is designed to help students understand the concepts of supply and demand through a hands-on role play. Set up different ‘shops’ in the classroom where the ‘sellers’ have a limited number of items to sell. Give ‘buyers’ a fixed amount of play money to spend. As the activity progresses, guide students to notice how the availability of items (supply) and the desire to purchase them (demand) influence the price and availability of the goods. Possible variations of the activity could include having different quantities of items, introducing a bidding system, or allowing students to ‘create’ more of a product to affect supply. The goal is for students to grasp the basic principles of supply and demand by experiencing them in a simulated market environment.