📖

Supply and Demand: The Market Dance

Economics: Making Economic Choices

Day 107of 180
Week 22of 36
30Minutes
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🖨️ Download Worksheet (PDF)
🎯 What You'll Learn

Learning Objectives

1

Understand basic supply and demand concepts

2

Learn how scarcity affects market prices

3

Practice making economic decisions

📖 Scripture Connection

Proverbs 13:11

“Wealth gained dishonestly dwindles away, but he who gathers by hand makes it grow.”

— Proverbs 13:11 (WEB)

Shows the importance of understanding value and making wise economic choices

📦 Materials Needed

  • Small colored candies or tokens
  • Paper bags
  • Price chart
  • Play money
  • Whiteboard and markers
📚 Step-by-Step

Lesson Plan

1Opening (5 min)

Gather students in a circle and explain that today we're learning about how prices change based on how many things are available and how many people want them.

💭 Review Question: Can you think of something that becomes more expensive when it's hard to get?
2Teaching (10 min)

Introduce supply and demand using simple examples children can understand. Explain that when something is rare, it becomes more valuable, and when something is everywhere, it becomes less valuable.

📌 Key Talking Points:
  • Some things are more special when they're harder to find
  • Prices change based on how many people want something
  • God gives us wisdom to make good choices
💬 Discussion Questions:
  • What makes something valuable?
  • Why do some toys cost more than others?
  • How can we be wise with our choices?
3Activity: Market Day Simulation (10 min)
game

Students will play a game simulating supply and demand with candies as their trading goods.

📝 Instructions:
  1. Divide class into buyers and sellers
  2. Give sellers a limited number of candies
  3. Create different demand scenarios
  4. Let students trade and observe price changes
🔄 Variations:

Simpler: Use fewer types of items and simpler trading rules

Challenge: Add more complex market scenarios and trading restrictions

4Closing (5 min)

Recap what we learned about supply and demand

📝 Review Questions:
  • What makes something valuable?
  • How do prices change when something is rare?
  • What did you learn about making good choices?
🙏 Prayer:

Dear God, thank You for giving us wisdom to understand how to make good choices with the resources You provide.

Coming up: Tomorrow we'll learn about entrepreneurs who solve problems by creating businesses!

💎 Memory Verse

Proverbs 21:5

“The plans of the diligent surely lead to profit; and everyone who is hasty surely rushes to poverty.”

— Proverbs 21:5 (WEB)

🎯 Activity: Memory Verse Rhythm - students clap out each word while reciting

👨‍👩‍👧 For Parents

Teaching Notes

📚 Background:

This lesson introduces basic economic concepts through an interactive game

💡 Teaching Tips:
  • Use real-world examples children can relate to
  • Encourage critical thinking about value
  • Connect economic principles to biblical wisdom
🤔 Common Struggles:

Children might find abstract economic concepts challenging

👀 Signs of Understanding:

Understanding that value changes based on availability and demand

🚀 Want More?

Extension Activities

  • Create a home market day with family
  • Draw a comic about supply and demand
  • Research how prices change for different items

Ready for Tomorrow?

Great job completing today's lesson!

Continue to Day 108 →Back to History & Social Studies