Activity 01
Simulation Game: The Classroom Auction
Auction off a desirable item (like a snack or a 'no-homework' pass) starting at a very high price and lowering it gradually. Students record how many people are willing to 'buy' at each price point, then use that data to plot a real demand curve on the board.
Explain the Law of Demand and its real-world implications.
Facilitation TipDuring The Classroom Auction, set clear starting bids and bidding increments so students focus on the relationship between price and quantity demanded rather than winning the item.
What to look forPresent students with scenarios. For each, ask: 'Is this a change in quantity demanded or a change in demand? Explain your reasoning.' For example: 'The price of concert tickets dropped by $20.' or 'A new study shows that eating blueberries improves memory.'