lp concept of demand

SHS Demo Teaching August 17, 2016

School DOÑA CARMEN DENIA NHS Grade Level GRADE 11Teacher CHRISTOPHER D. BALUBAYAN Learning Area ECONOMICS

Date and Time AUGUST 17,2016 9:00-10:00 AM (60 min) Quarter 2ND

I. Topic: Law of Demand Concepts: Demand, Law of Demand, Ceteris Paribus, and Prices

II. Objective: At the end of this lesson, students will be able to: Understand and analyze the likely change in demand given changes

in price or changes in the price of related goods such as substitutes and compliments goods, income, taste and preferences, and expectations.

Apply the concept and the law of demand by creating their personal demand curve and schedule as guide for daily economic decision-making activity.

Content Standard:

Describe fundamental economic concepts as prescribed by the Department of Education Grade 11 Economics of the K to 12 Curriculum.

Performance Standard:

Apply the law of demand and analyze the likely change in quantity demand vis-a-vis the change in price of a certain product or service through the use of demand schedule and demand curve.

III. Learning Sources: Economics Module for Students Pp.115 – 124, Economics for Filipinos, Miranda (2012 Edition), Pp 23 -35, Berrien RESA Economics in Marketing Education, Michigan Career and Technical Education, 2015.

Materials: Laptop, Projector, Student Handouts, SHO Answer Key

A. ACTIVITYProcedure: a. Introduce the lesson

Video Presentation: “The Hula Strikes Back”. Discussion # 1: What elements went into the decision of the

owner to change the price of the hula-hoop? Discussion # 2: What factors could impact your decision to

demand (or not demand) a good/service? b. Assess students’ economic aware- ness as it relates to the lesson.

Student Handout Activity 1: What is Your Demand? (1 per Student).

Distribute SHO 1: - Students will identify what they believe will happen to demand for a good base on a given scenario. - The goal is to assess students’ prior knowledge of the factors that impact demand.

Discussion # 3: After students complete the sheet, lead a class discussion for each problem.

B. ABSTRACTION a. Work through the economic lesson as it is embedded in the objectives.

Presentation : Concept of Demand on PPT

Student Handout Activity 2: The Law of Demand (1 per student)

Distribute SHO 2: The students take notes during presentation.

Discussion # 4: Presentation for the concept of Demand, Ceteris Paribus, Law of Demand, Substitution Effect, Income Effect and Demand Curve.

b. Work through related, contextual economic-in-CTE examples. Student Handout Activity 3: Graphing Practice (1 per student).

Distribute SHO 3: - Students will demonstrate understanding of movement (slides) along the demand curve. - This exercise will provide practice in graphing, determining what a change in price will do to the demand curve, and identifying why the demand is changing based on the price change. - Review the student answers as a class on the board

c. Work through traditional economic examples.

christopher d. balubayan [email protected]

SHS Demo Teaching August 17, 2016

o Presentation: Shifts in Demand on PPT

Student Handout Activity 4: Shifts in Demand (1 per student)

o Distribute SHO 4: The students may continue to take notes with the presentation.

o Discussion # 5: Presentation for the Shift of Demand, Factors Affecting the shift of Demand such as Income, Normal Good, Inferior Good, Neutral Good, Taste and Preference, Price of Substitute and Complimentary Goods, and Expectations.

C. APPLICATIONa. Students demonstrate their understanding.

Student Handout Activity 5: Analyzing Shifts in Demand (1 per student).

o Distribute SHO 5: Students will graphically identify the proper “shift” or “slide” of the demand curve for a given scenario. Students will graphically identify the proper “shift” or “slide” of the demand curve for a given scenario.

b. Valuing Understanding the concept of demand helps us in our economic decision-making, plan our budget, and refrain from becoming an impulsive buyers or consumers.

c. Assessment Student Handout Activity 6: Quiz on the Concept of demand (1 per student).

o Distribute SHO 6: Assessment which the students will complete individually.

D. ASSIGNMENT1. Apply the concept and the law of demand by creating your personal demand curve and

schedule for various products and services you purchase or avail as guide for your daily economic decision-making activity.

2. Write a three-paragraph essay concerning the importance of budget plan for your allowances by refraining from becoming an impulsive. The rubric below will be used for your work.

RUBRIC Clarity of Idea Original CompositionSincerity of Thought

30%30%40%

TOTAL 100%

christopher d. balubayan [email protected]