Students will first use the student data sheet, Demand Schedule, to complete an individual demand schedule for the price of a candy bar. Students will then use the Supply Schedule data sheet to create a supply schedule for paper airplanes.
Before the Activity
See the attached Activity PDF file for detailed instructions for this activity.
Print the appropriate pages from the Activity for your class.
Make sure each student has a TI-83 Plus or TI-84 Plus graphing calculator and that the lists and graphs are cleared. It may be easier for some students to read the numbers if they are rounded to 2 decimal places. This can be done by setting the mode to 2 decimal places.
During the Activity
Distribute the appropriate pages from the Activity to your class
Follow the procedures outlined in the Activity
Analyze the roles that supply and demand play in determining how much is produced and at what price.
After the Activity
Lead the class in a discussion on the factors that lead to a change in demand for a good or service causing the curve to shift. Factors to guide discussion could include: income changes; population and demographic changes; preferences and tastes; consumer expectations about price; and the prices of substitute goods.