Supply and Demand G-11/12 Economics.pptx

Supply and Demand, Grade 11 Economics 2nd Sem

1. Good Morning !

2. CLASSROOM RULES (3’RS) Raise your hand if you want to answer. Respect your teacher and classmates. Remain quiet while your teacher and classmate are talking

3. R eview of the Previous lesson

4. Learning competencies 1. Define what is supply, demand and equilibrium. 2. Illustrate and explain the law of supply and demand. 3. Express an appreciation for the role of supply and demand in shaping economic systems .

5. Activity 1 JUMBLED WORDS A D M E N D DEMAND

6. Activity 1 JUMBLED WORDS SUPPLY PULPSY

7. Activity 1 JUMBLED WORDS EQUILIBRIUM EQMUILIRIBU

8. Activity 1 JUMBLED WORDS MARKET MKARET

9. Which do you think cost more, Samsung or iPhone? Why do you think some items are more expensive than others? What do you think the price of gasoline would be if there was an unlimited supply of natural gas in the world?

10. PICTURE ANALYSIS

11. PICTURE ANALYSIS

12. LAW OF DEMAND and LAW OF SUPPLY

13. DEMAND Demand simply means a consumer's desire to buy goods and services without any hesitation and pay the price for it. In simple words, demand is the number of goods that the customers are ready and willing to buy at several prices during a given time frame .

14. SUPPLY It is a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers. Supply can relate to the amount available at a specific price or the amount available across a range of prices if displayed on a graph. .

15. MARKET It is an interaction between buyers and sellers of trading or exchange. It is where the consumer buys and the seller sells.

16. EQUILIBRIUM Also called a market-clearing price, the equilibrium price is the price at which demand matches supply, producing market equilibrium acceptable to buyers and sellers.

17. Law of Supply

18. If you sell a glass of lemonade for Php 10 and you're making a nice profit, you might decide to make more lemonade to sell. But if the price drops to Php 5 and you're barely covering your costs, you might not want to make as much lemonade or might even stop altogether. . EXAMPLE Of Law of Supply

19. Supply Curve A supply curve is a graph that shows how a change in the price of a good or service affects the quantity a seller supplies. Price is listed on the vertical y-axis, while quantity supplied is listed on the horizontal x-axis .

20. LAW OF DEMAND The law of demand states that, all else being equal, as the price of a good or service decreases, the quantity demanded for that good or service increases, and conversely, as the price of a good or service increases, the quantity demanded decreases.

21. DEMAND CURVE A Demand Curve represents the relationship between the price of a good or service and the quantity demanded for a given period of time.

22. EXAMPLE OF LAW Demand If you lower the price of your Bananaque from 10 Pesos each to 7 Pesos each, more people might want to buy them because they're cheaper. But if you increase the price to 15 each, fewer people might be interested because it's more expensive.

23. LAW OF SUPPLY and DEMAND

24. Class Activity 1. A new bag has just come out and everyone wants to own one. Unfortunately, the store only has a few to sell right now. Is the supply high or low?_______ Is the demand high or low?_____ Do you think the price will be high or low? Why? (10 points)______________ 2. A bag company recently started making a new bag. They made lots of these bags because they thought they would become trending bags. They soon realized that no one really wanted to buy this bag. Is the supply high or low?__________ Is the demand high or low?_________ Do you think the price will be high or low?

25. Group Activity (3 GROUPS) Each group will have to present a role play that will show how law of demand and supply happened in their everyday lives.   The role play should have a duration of at least 1-5 minutes.     2- Portray the assigned role, 50% participation and exceeded the allotted time.   1- No presentation.   Rubrics: 5- Portray the assigned role creatively and effectively, 100% participation, and finished on time . 4- Portray the assigned role, 100% participation, but have exceeded the allotted time .   3- Portray the assigned role, 80% participation and exceeded the allotted time.

26. SHORT QUIZ 1. Supply means the willingness of the consumer to buy a certain commodity at a given price . 2. Market equilibrium means the state of balance when demand is equal to supply. 3. Demand is the quantity of goods that a seller Is willing to offer for sale. 4. A graphical illustration of the supply schedule is called Supply Curve. 5. Law of Demand states that as the price increases, quantity supplied of that product also increases.

27. ASSIGNMENT T R ead our next topic which is on how to PLOT graph based on the DEMAND and SUPPLY? Bring a graphing paper and a ruler.