Demand and Supply

Grade 10 · Economics

Semester 1 | Period 2 | Week 10

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Subject: Economics

Semester: 1

Period: 2

Week: 10

School Name:

Teacher’s Name:

Subject: Economics

Grade Level: Grade 10

Week & Period: Week 10, Period II

Date:

Topic: Demand and Supply
Sub-topic: Factors Affecting Supply

Learning Objectives:

By the end of the lesson, learners should be able to:

  1. Identify and explain the factors that influence supply.
  2. Illustrate how these factors cause a shift in the supply curve.
  3. Differentiate between price and non-price determinants of supply.
  4. Apply supply determinants to real-world production scenarios.

 

Instructional Materials:

  • Flashcards with factors listed
  • Whiteboard and markers
  • Projector (for showing diagrams)
  • Sample supply curve drawings
  • Market simulation slips

 

Anticipation (Warm-Up Activity):

Ask learners:

"If the government gives farmers free fertilizer, what happens to the supply of rice?"
Leads to discussion on non-price factors that influence supply.

 

Building Knowledge (Main Lesson):

Factors Affecting Supply:

  1. Cost of Production:
    • When production becomes cheaper, supply increases.
    • g., cheaper labor, cheaper raw materials.
  2. Technology:
    • New or improved technology increases productivity.
    • Supply increases as efficiency improves.
  3. Government Policy (Taxes and Subsidies):
    • Taxes raise costs and reduce supply.
    • Subsidies lower costs and increase supply.
  4. Weather Conditions (for Agricultural Goods):
    • Good weather → high supply
    • Bad weather → low supply
  5. Expectations of Future Prices:
    • If producers expect higher prices in future, they might reduce current supply.
  6. Number of Sellers:
    • More sellers in the market increase supply.
  7. Prices of Related Goods:
    • If the price of a substitute in production rises, supply of the current good may decrease.

 

Graphical Illustration:

  • Draw a supply curve.
  • Show how a rightward shift means an increase in supply.
  • Show a leftward shift indicating a decrease in supply.

 

Activities:

  • Group matching activity: Match supply factor with its effect.
  • Learners create a poster illustrating supply factors.
  • In pairs, simulate market scenarios based on a factor (e.g., "Government bans fertilizer subsidy").

 

Simulation Activity:

Title: Effect of Factors on Supply
Materials: Printed factor slips, sample supply curves

Procedure:

  1. Each group picks a supply factor card.
  2. They act out or explain how it affects supply.
  3. Use supply curve to illustrate result (shift left or right).

 

Assessment Questions (Classwork):

  1. List four factors that influence supply.
  2. Explain how a decrease in the cost of raw materials affects supply.
  3. Describe the effect of bad weather on the supply of agricultural products.
  4. Draw a supply curve that shifts due to technological advancement.

 

Homework:

  • Interview a local business owner or farmer on what influences their decision to produce more or less of a product.
  • Write a one-page reflection.

 

Expanded Notes:

  • Short run vs long run: In the short run, supply can be more inelastic.
  • Government regulations and external shocks (e.g., war, pandemics) also affect supply.
  • Modern examples: COVID-19 led to supply chain disruptions globally.

 

Differentiation:

  • Infographic creation for artistic learners
  • Discussion groups for interpersonal learners
  • Table completion and MCQs for logical learners

 

Teacher’s Reflection:

  • Did learners correctly identify and explain the factors?
  • Were they able to link factors to real-world economic changes?
  • Did visual representations improve their understanding?