Market Dynamics Slides Economics Unit
MARKET
DYNAMICS
Cracking the Code of Consumer Demand
Learning Targets
Objective 01
Define Demand as the desire for a good and the ability to pay for it.
Objective 02
Create a Demand Schedule based on real-world classroom market data.
The Auction
The Item: Homework Pass
"Who would buy this pass right now if the price was..."
$1.00 Raise your hands!
$5.00 Keep 'em up?
$10.00 Still interested?
Think About It...
Why did the number of hands decrease as the price increased? Is "wanting" something the same as "demanding" it in economics?
Watch & Learn
Embedded media
Segment: Intro through the Law of Demand (0:00 - 6:33)
Pause Points
3:36 How does this support or change what you already knew?
4:06 Define Demand: Desire + Ability to pay.
6:08 Write the Law of Demand in your own words.
Demand Schedule Example
Price (Per Pair) Quantity Demanded $20 1,500 people $60 1,250 people $140 925 people $500 30 people
Key Insight
A Demand Schedule shows exactly how much people want to buy at specific prices at a single point in time.
AS PRICE GOES UP,
DEMAND GOES DOWN.
Market Survey Challenge
1
Pick a Product
Choose a trendy item to "sell" to the class (Snacks, AirPods, Concert Tickets).
2
Survey Peers
Ask your classmates: "How many of you would buy this at [Price X]?"
3
Build Your Table
Fill out your Demand Schedule and prepare to share one surprising find.
25 MINUTES ON THE CLOCK
Market Wrap Up
Closure Question
What was the most surprising thing you noticed about your product's demand as the price changed?
Extension Challenge
If the price of your product doubled tomorrow, how many students do you predict would still buy it?
Market Survey Sheet Market Survey Sheet
Lesson: Market Dynamics & Demand
Name:
Date:
Step 1: Choose Your Product
What item is your group surveying? (e.g., specific snacks, concert tickets, digital currency)
Step 2: Collect Market Data
Ask your classmates if they would buy your product at each price point. Use tallies to track responses.
Price Point Survey Tallies Total Count $ $
| | |
| $
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| $
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Step 3: Formal Demand Schedule
Transfer your data into this clean table to present to the class.
Price (P) Quantity Demanded (QD)
Analysis
1. Based on your table, what is the relationship between price and demand? Does it follow the Law of Demand?
2. Share one surprising finding from your survey. Why do you think people responded that way?
Extension Challenge
Predict: If the price of your product doubled tomorrow, how many students would still buy it? Explain your reasoning.
Market Dynamics Teacher Guide Market Dynamics
Teacher Facilitation Guide
Duration 50-60 Min
Lesson Overview
In this lesson, 7th-grade students move from intuitive understanding to formal economic analysis. By simulating a market for a highly desired item (Homework Pass) and conducting their own peer surveys, they will discover the Law of Demand : the inverse relationship between price and quantity demanded.
Essential Questions
What differentiates "wanting" a product from economic "demand"?
How does a demand schedule visually represent consumer behavior?
Why is the Law of Demand considered a foundational force in a market economy?
Materials List
Market Dynamics Slides
Market Survey Sheets (1 per student)
Homework Pass (for Auction)
Whiteboard & Markers
Step-by-Step Procedures
01
Warm-up: The Homework Pass Auction (5 min)
Display the Auction Whiteboard visual. Hold up a Homework Pass. Ask students to raise their hands if they would pay $1 for it. Count and record. Repeat for $5 and $10.
Teacher Tip: Watch for students who stop raising their hands at $10 because they "don't have the money." This is the perfect lead-in to the definition of demand (Desire + Ability to Pay).
02
Video Discovery (10 min)
Play the video (0:00 - 6:33). Use the following pause points to check for understanding:
Pause @ 4:06
Why isn't just "wanting" a Ferrari enough to count as demand?
Pause @ 6:08
Have students write the Law of Demand in their own words before the video reveals it.
03
Classroom Market Survey (25 min)
Divide students into groups of 3-4. Distribute the Market Survey Sheets .
Phase 1: Groups pick a product and 4 realistic price points (low to high).
Phase 2: "Market Open" - Students circulate to survey other groups.
Phase 3: Data Analysis - Groups return to seats to fill in their Demand Schedule and answer analysis questions.
Key Vocabulary
Demand
The desire to have a good/service AND the ability to pay for it.
Demand Schedule
A table listing how much of an item all consumers in a market will buy at each price.
The Big Idea
"The Law of Demand is simply common sense put into data: When things get more expensive, people buy less of them. When they go on sale, people buy more."
Auction Tracker Visual Market Auction Tracker
Today's Item: _____________________________
Price Point
$1.00
$5.00
$10.00
$ ____
Hands Raised (Demand)
Class Reflection
As the price increased, what happened to the number of people willing and able to buy?
Project this page onto your whiteboard to record tallies during 'The Auction' warm-up.