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Supply and Demand, Lessons from Toy Fads - Council for Economic Education/Chad Mares
Grades
6 to 12
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Learn the concepts of supply and demand through case studies of Hula Hoops and Silly Bandz. Watch video clips that demonstrate how supply and demand interact with prices of in-demand...more
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Learn the concepts of supply and demand through case studies of Hula Hoops and Silly Bandz. Watch video clips that demonstrate how supply and demand interact with prices of in-demand toys, and then complete activities with case studies to learn about market demands. The assessment activity includes completing a supply and demand graph that represents the different components involved in this concept. If your district blocks YouTube, then they may not be viewable.
tag(s): supply and demand (4)
In the Classroom
Introduce this site on your interactive whiteboard or projector. Then have students explore this site independently or in small groups. Make a shortcut to this site on classroom computers and use it as a center. This is a great find as an extension activity for gifted students! Encourage students to create their own list of items similar to Hula Hoops and Silly Bandz that were in high demand and low supply.
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