📖

Supply and Demand: How Prices Work

Economics: Producers and Consumers

Day 119of 180
Week 24of 36
25Minutes
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🖨️ Download Worksheet (PDF)
🎯 What You'll Learn

Learning Objectives

1

Understand basic supply and demand concepts

2

Learn how availability affects pricing

3

Recognize economic interactions in everyday life

📖 Scripture Connection

Proverbs 31:16

“She considers a field, and buys it. With the fruit of her hands, she plants a vineyard.”

— Proverbs 31:16 (WEB)

Shows wise decision-making in buying and selling

📦 Materials Needed

  • 10 small toy cars
  • 20 stickers
  • Paper price tags
  • Colored markers
  • Small toy box or container
📚 Step-by-Step

Lesson Plan

1Opening (5 min)

Gather students in a circle and explain today we'll learn about how things are priced

💭 Review Question: Who remembers what a consumer is?
2Teaching (8 min)

When something is rare, it costs more. When something is everywhere, it costs less.

📌 Key Talking Points:
  • Rare things are more expensive
  • Lots of something makes prices go down
  • People decide prices by what they want
💬 Discussion Questions:
  • Why do you think a rare baseball card costs more?
  • What makes something valuable?
3Activity: Sticker Market Simulation (10 min)
hands-on

Students will trade stickers based on supply and demand

📝 Instructions:
  1. Give each student 2-3 stickers
  2. Create 'rare' stickers that are limited
  3. Let students trade and negotiate prices
  4. Observe how rare stickers become more valuable
🔄 Variations:

Simpler: Use fewer types of stickers

Challenge: Add complex trading rules

4Closing (2 min)

Recap how supply and demand affect prices

📝 Review Questions:
  • What makes something cost more?
  • Why are some things cheaper than others?
🙏 Prayer:

Dear Jesus, thank you for teaching us about sharing and trading fairly.

Coming up: Tomorrow we'll have our own market day!

💎 Memory Verse

Proverbs 13:11

“Wealth gained dishonestly dwindles away, but he who gathers by labor increases it.”

— Proverbs 13:11 (WEB)

🎯 Activity: Supply and Demand Trading Game

👨‍👩‍👧 For Parents

Teaching Notes

📚 Background:

Children are learning basic economic principles through play

💡 Teaching Tips:
  • Encourage fair trading
  • Help children understand value isn't just about rarity
🤔 Common Struggles:

Understanding abstract economic concepts

👀 Signs of Understanding:

Ability to explain why some things cost more than others

🚀 Want More?

Extension Activities

  • Create a home 'trading post' with old toys
  • Play store with realistic pricing
  • Discuss family budget concepts

Ready for Tomorrow?

Great job completing today's lesson!

Continue to Day 120 →Back to History & Social Studies