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Plato

Day 2

Title: Supply and Demand

Grade Level: Fifth and Sixth Grade

Organization: Whole Group

Objectives: Students will be able to:
1. Define the terms supply and demand.
2. Identify what happens when demand exceeds supply.
3. Identify what happens when supply exceeds demand.
4. Explain how economic stability or affluence affects supply and demand.
Standards:
Production, Distribution and Consumption
Materials:
Poker chips
Prizes for each child in the class (i.e. candy, homework pass etc..)
Motivation:
Start day two with a reminder about the lesson from day one. For example, how money doesn't stretch as far as we like. To begin this lesson ask the students if they have ever seen, heard of or been to an auction. Depending on their response you may have to explain what an auction is, and what takes place at one. If you have a student who knows what an auction is, ask them to explain to everyone else what takes place at an auction. Then......


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Approximate Word Count: 514
Approximate Pages: 3 (250 words per double-spaced page)

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