Activity 01
Curve Drawing: Price Changes vs Shifts
Provide worksheets with base supply curves. Pairs first plot movements along the curve for price hikes, then redraw shifted curves for scenarios like subsidy introduction or cost rises. Discuss differences in plenary.
Explain how production costs and technology affect the supply of goods.
Facilitation TipFor Tax Debate, assign half the class to argue for a tax’s negative impact and the other half to argue for its positive impact to deepen understanding of supply contraction mechanics.
What to look forPresent students with a scenario: 'The price of oil, a key input for many manufacturing processes, has significantly increased.' Ask them to draw a supply curve for a generic manufactured good, show the impact of the oil price increase with an arrow, and label the new curve. Ask: 'What does this shift indicate about the quantity supplied at the original price?'