Activity 01
Role-Play: Lemonade Stand Market
Assign roles: half as producers mixing pretend lemonade, half as thirsty consumers with budgets. Start trading at a set price, then introduce a 'heatwave' demand surge by adding more consumers. Observe and graph price changes. Debrief on producer responses.
Explain the relationship between supply, demand, and price in a market.
Facilitation TipDuring the Lemonade Stand Market, circulate and ask neutral questions like 'Why did your price go up when the line grew?' to prompt reasoning.
What to look forPresent students with a scenario: 'The price of bananas in Australia has just doubled.' Ask them to write down two possible reasons for this price change, referencing both supply and demand. Review responses to gauge understanding of the core relationship.