Activity 01
Market Role-Play: Demand Shifts
Divide class into buyer and seller groups for a product like smartphones. Introduce scenarios such as income rise or cheaper substitutes, then have buyers state quantities they demand. Groups record data and plot demand curves before and after shifts on charts. Conclude with class discussion on observations.
Explain the law of demand and its underlying assumptions.
Facilitation TipDuring Market Role-Play, assign each student a specific budget and product, then have them negotiate prices while observing how quantity demanded changes.
What to look forProvide students with a scenario: 'The price of smartphones has fallen by 10%. Simultaneously, a new study suggests smartphones improve productivity.' Ask them to write one sentence explaining how these two factors might affect the quantity demanded and the overall demand for smartphones.