Name: Sarah Barbee
Lesson #: 1 Lesson Title: Intro to Supply and Demand
Grade Level/Subject: 3rd Grade Social Studies
NCES/CCSS Standard and
Objective (1)
Revised Blooms level of
thinking/type of knowledge
(1)
Behavioral Objective (2)
Objective Rationale (1)
Prerequisite Knowledge and
Skills (1)
Key Terms and Vocabulary
(1)
Content and Strategies
Focus/Review (prepares
students for the lesson) (2)
Topic: Economics
3. E.1 Understand how the location of regions affects activity in a
market economy.
- 3.E.1.1 Explain how location impacts supply and demand
- 3.E.1.2 Explain how locations of regions and natural resources
influence economic development (industries developed around
natural resources, rivers, and coastal towns)
Students will be able to apply the laws of supply and demand in
their own lives and regions around them. In partner pairs students
will create a poster to show their understanding of the content.
Writing standard- W.3.2 Write informative/explanatory texts to
examine a topic and convey ideas and information clearly.
- SWBAT write a paragraph showing the cause and effect
relationship between supply and demand. The students will use
their created poster for this paragraph and explain if they would
raise or lower the price of their good based on their findings.
Create, apply, understand
Students will be able to create a supply and demand poster when they
come up with their own numbers, supplies, and the number of people
demanding that good. The students will be the owners of this store they
create to sell their good, they will need to write a paragraph showing the
cause and effect relationship between supply and demand on the back of
the poster.
Students need to know about the economy and supply and demand because
it effects their life daily. They are always going to the store to buy
something whether it be food or a toy. Knowing this information will help
the students to be good citizens and understand how their country and
economy works. It is important students understand how supply and
demand works so they are able to get good deals in stores and not be
wasteful with their money.
General idea of the term economy, know what cause and effect
relationships are, how to write an explanatory text, understand
some government forces and who controls what
Economy, good, service, country, produce, supply, demand, free
market
Instructional
Strategies
Who has ever heard of the word ECONOMY? (wait for
the kids to respond by raising their hand)
Can someone tell me what an economy is or where you
may hear that word? (On the news, the president,
parents, government). Well the economy is a very
Revised for spring, 2012

Objective as stated for
students (helps students set
their own goals for the lesson) explain the cause and effect relationship of supply and demand and create
(1)
Teacher Input (provides the
content to students in a
teacher-directed manner) (3) you guys have heard the terms supply and demand, but
important to our everyday lives. All of you had really
good ideas of what the economy is and where you
would hear that term. Im going to tell you some really
top secret facts about what the economy is and how it
works, are you guys ready? I need you to put on your
listening ears, *CLICK CLICK* and I need you to have
your eyes up here on me so get out your binoculars to
focus, *ZOOM ZOOM*. Now, 2 claps, and hands in
your lap! *CLAP CLAP* Great job! Now you are ready
to learn.
Today we will learn about the economy of America and supply and
demand within that economy. By the end of the lesson you will be able to
a poster of your own store selling.
Today we are going to talk specifically about supply
and demand within our economy. Now I know some of
they are hard to really know what they mean in the
context of our economy.
Have Powerpoint/ Smartboard definitions typed up.
ECONOMY-
The way a country manages its money and
resources (such as workers and land) to produce,
buy, and sell goods and services.
Alright someone help me out here, thats a lot of
words! *circle country* what does this word mean?
Country- What is our country? (United States)
YES! The good ole US of A! That is our country!
- Now it says our country manages its
money and resources, does that mean the
land of America does that? Noooo, who
manages our money? (allow time for
children to respond with government jobs)
Lets break that down a little more. GOODS AND
SERVICES. Use your context clues to determine
what the word goods could mean in this sense and
discuss with your shoulder partner for one minute.
*What words tell you what a good is? (produce, buy
and sell).*
GOODS- products like cars, computers, corn, video
games, strawberriesanything you can buy,
produce, or sell! Can you buy those things? (YES)
Can you sell all of those things? (YES) Can you
produce all of those things? (YES) So that makes
them a good!
SERVICES- services are similar to goods, except
they are duties performed by one person for another.
So someone give me an example of a service that
you do for someone. (Teaching, transportation) If I
find students are not understanding what a services
is I would have them act out doing something for
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Guided Practice (scaffolded
practice with the content;
helps students make sense of
the content provided in
Teacher Input) (3)
another person.
So far we have learned what the economy is and
how it operates. Well guys, theres more! The United
States is a free-market economy. That means that all
of the people, like you and me, can freely buy and
trade goods and services! Turn to your neighbor on
your right and tell them You are free to buy! Now
turn to your neighbor on the left and tell them You
are free to trade! Nice, thats right we are all free to
buy and trade as we please in America because we
have a free market economy. Now that was a lot of
information, someone explain back to me what it
means to live in a free market economy?
Now that we have a little back ground information
Im going to tell you what supply and demand are.
Hmm, lets think of the word supply. At the beginning
of the year you get a list of supplies you need for the
school year, what kind of things does that list have
one it? (allow students to name off some things).
RIGHT! So supply sounds a lot like what word that
we have talked about already? (GOODS!). Yes, the
supply is the AMOUNT of goods you have.
Okay so we know what supply IS, but what do you
think determines how many of a certain supply you
get? Do you think the government just comes up with
a random number and decides thats how much of
that good a store will get? (nooo) That would be kind
of silly wouldnt it? How would the government know
how much of a good to give to a store, the only way
to figure that out is through the demand.
Demand is the measure of how many people want to
buy a particular good (or service). So that means we
can have high demand Reach up really high for
me and say WE WANT IT!! Or we can have a really
low demand. Reach down really low and say, I
DONT WANT THAT!! Good job, so if we all really
want something do we reach up high or down low,
show me! (REACH UP HIGH). But if we dont really
want something, what do we do? (REACH DOWN
LOW).
To make sure we understand this stuff we are going to
do a little skit. Who likes to act things out? Alright, if
we want to participate in this fun economy skit I need
everyone to quietly go back to their seats and look up
here.
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Okay, I need one volunteer to come up here.
- Pick a child to come up to the front of the
room.
- Ask the child what their favorite store is.
(ex. Walmart)
- Ask child what they would buy at store. (ex.
Takis chips)
Designate part of the room as the store (Walmart). Have
3 other students come up and give them a sign that says
Takis $2. Tell these students they are now the Takis.
Make sure everyone understands, student 1 is the buyer,
the customer at Walmart. I am the worker of Walmart,
and students 2,3,and 4 are the good, takis. Tell student
1, that his choice to buy Takis was good, but so good
that EVERYONE wants them. Have 4 students come up
and take the takis back to their seats. Now student 1
doesnt have any takis to buy at Walmart. As the worker
I tell him
it is okay,
I will
have a
new
supply
in by

tomorrow. FREEZE! Ask, Was the demand for takis

high or low?? How do you know?

Have the initial 3 taki students come back up. I have

restocked my supply of takis. But because the
DEMAND for them was so high, I decide to mark up
the price. *teacher goes through and marks the price up
one dollar for each of the Taki signs*

- Student 1 comes back to the store and sees

he can buy takis now, but the price has gone
up.
- Have everyone go back to their seat. Ask the
students to raise their hand and recap what
just happened in our skit. Ask, so when the
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 demand was high, was the supply high too?
Did I have a lot or a little amount of Takis?
Was it enough for our demand?
- Ask the students what happened to the price
of the Takis when the demand was high?
- Ask the students why they think I marked
the price up.
As we can see, the demand for takis was high. I initially
did not have enough takis to support the demand. More
people wanted takis than I had supply of in my store.
The demand was high and my supply was low. Because
of that I marked the price UP!! When more people want
something then we have the supplies for, the price of
that item will go up because it is more valuable and
wanted.

Good! Lets try another one. (Have another student

come to the front of the room)
- Ask them the same questions, their favorite
store and what they would buy at that store.
(Concord Mills, Shoes)
- Designate a place in the room as the store
and yourself as the worker of that store.
- Have 10 students come up and hold signs
that say SHOES $20. Tell student 1 he is
shopping at the mall and sees these shoes he
likes. He really wants to get them, but he
wants to make sure his mom likes them first.
Student 1 sees theres a lot of shoes left, so
he goes home to tell his mom about those
shoes.
- As the store worker, I see I have SO MANY
of these shoes in stock, a huge supply! And
no one is buying them. I KNOW WHAT I
WILL DO!
- Take sticky notes that say SALE and put
them on each of the shoes.
- Tell the students a week has past and STILL
no one has bought my shoes. Mark them
down with another Sale sign.
- Do this again, and mark with a clearance
sign.
- Have student 1 come back and see that the
shoes are now even cheaper, they have been
marked down 3 times! Allow student 1 to
take a pair of the shoes.
- Tell the students a month has passed and still
I have 9 pairs of these shoes left and no one
is even acting interested in them.
- Take all of the shoes off of the shelf, tell the
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 students the demand was too low for these
shoes and I have marked them down as
much as I can.

Someone recap this skit for me. Was the demand high
or low-how do you know? What happened to the price
as the demand got lower and lower?

Draw on the board this diagram to help the students.

Independent Practice The learning task in this section can be used for the summative assessment
(application activities to help and should be reflected in the behavioral objective. You can also give the
students use and demonstrate summative assessment after the Closing. This would be described in the
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what they have learned) (2)
Closure (provides a wrap-up
for the lesson) (1)
Evaluation (How will you
assess students learning so
that you can determine if
they met the objective of the
lesson?) (2)
Plans for Individual
Differences (differentiations
needed for students) (1)
Evaluation section.
Allow students to work alone or with a partner for this part of the lesson.
Students will be given a paper to make a poster out of. The students will be
coming up with their own store and what they are going to sell. They will
need to decide the supply they have, what they are selling, and what the
demand will be, high or low- using actual numbers. They will then fill out
on the bottom of the poster if their supple was higher or the demand was
higher based on the numbers they chose. Finally, the students will need to
write a paragraph explaining the cause and effect relationship between
supply and demand. They will need to include in this paragraph if they
were the owner of this store if they will mark the price up or down based
on their findings. The students will then decorate their poster in accordance
to their good.
We will go around the room and have students share their writings/posters
on what their supply and demand was. We will talk about if we agree or
disagree with their supply and demand high low ratio.
Now that we have talked about supply and demand in our on life we will
discuss what the supply of our county, region, country is. What about those
in California what do they need? What about Africa, places that need clean
water. What would the supply and demand of things look like there? These
are just some questions to pounder as we move into a new look on the
economy around us tomorrow.
As a recap, we will watch the video Supply and Demand in a Minute to
refresh our brains on what we learned. https://www.youtube.com/watch?
v=GqeRnxSuLFI
Formative:
Formative assessments will happen throughout the lesson when I
ask the students to recap what happened in a skit or explain in their
own words what a definition is. During the independent practice I
will go around and ask each student a question such as if the
demand is high and the supply is low should I mark the price up or
down? Or the vice versa of that question. This will give me a good
idea of who really understands the topic.
Summative
The summative objective will be the completion and the correctness of the
independent practice. I will be looking that the students correctly answered
all of the questions and gave good reasoning behind their explanations to
show mastery of the content. Students will also need to have shown the
cause and effect relationship between supply and demand through their
paragraph.
I plan to meet the needs of different learning styles by providing different
ways of learning. I will have a visual representation of the definitions for
my visual students who need to see the writing. I will be explaining each
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 definition in multiple ways for my audio learners, as well as providing a
video at the end. During the guided practice I will be focusing on my
kinesthetic learners who will enjoy getting up to move and act out the
learning. And during independent practice Im really focusing in on the
kids who learn best collaboratively and can work in partners, as well as the
students who best show their understanding on a more creative level than
just answering multiple choice questions.

Materials used in the lesson;

Resources used in developing Supply and Demand posters- craft stuff like markers/crayons,
the lesson (1) https://www.youtube.com/watch?v=GqeRnxSuLFI, skit materials- signs,
sticky notes, markers.

Resources- http://www.scholastic.com/browse/article.jsp?id=3750579

21st Century Skills (must be *Collaboration and teamwork- Making the supply and demand poster and
in three lessons) coming up with a good and store. During our visual skit students were
collaborating and working together to make the skit make sense and flow
for classmates
*Creativity- coming up with stores and goods to sell in those stores,
deciding on prices, the demand, and the amount of a good. Making a
poster that accurately shows your good
*Critical thinking- Problem solving showed throughout the lesson. During
the skit/guided practice, the problem was not having enough, or having too
much of a supply the solving of the problem was to raise or lower the
price of the good. The students then would show type of problem solving
through their posters.
Global Awareness (must be in Because this is an intro lesson we really focus on the community within
two lessons) the classroom and their demands and what they want and like. During the
end of the lesson the teacher asks questions about the country as a whole
and some supplies that maybe someone in California may need. The
teacher then should bring in areas in Africa that may not have clean water
and get the children thinking about if those people pay for water, or shoes
or basic needs in life. What would the supply look like in these situations,
the demand would obviously be very high.
Culturally Responsive Allowing students to come up to the room and talk about their interests,
Teaching (must be in three what they like to buy, where they buy things from. This allows us to
lessons) understand their culture a little better and what they enjoy. Also during the
independent practice students have time to work alone or with a partner
and express their interests an become the manager of their own store,
determining if things are going to sell or not sell in their store.
Overall alignment in the lesson (2):
The behavioral objective must be aligned to the lesson objectives (NCES/CCSS).
The instructional activities must help students meet the behavioral objective and be successful on the
lesson assessment.
The lesson assessment must provide enough reliable and valid data so the teacher can determine if
each student has met the lesson objectives or not.

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Add any instructional materials needed for the lesson here (worksheets, assessments, PowerPoints,
slides from SmartBoard programs, etc.) (2)

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---------------------------- of -----------------------------
(Supply-How many) (Product- your object)

---------------------------
(Demand- number of people wanting it)

----------------------------
------------------------------
This is your store and your supplies. Describe the cause
and effect relationship between supply and demand in your
store. Because of this relationship will you raise or lower the
price of your good? Answer on the back.

Revised for spring, 2012