Supply refers to the amount of a good or service available, while demand refers to how much of that good or service people want. A surplus occurs when there is more of a product than is being demanded, while a shortage happens when there is not enough of a product to meet the demand. An activity will have students in groups trade candy bars, with some bars in high demand but limited supply creating shortages, and others with too much supply and not enough demand causing surpluses.
Supply refers to the amount of a good or service available, while demand refers to how much of that good or service people want. A surplus occurs when there is more of a product than is being demanded, while a shortage happens when there is not enough of a product to meet the demand. An activity will have students in groups trade candy bars, with some bars in high demand but limited supply creating shortages, and others with too much supply and not enough demand causing surpluses.
Supply refers to the amount of a good or service available, while demand refers to how much of that good or service people want. A surplus occurs when there is more of a product than is being demanded, while a shortage happens when there is not enough of a product to meet the demand. An activity will have students in groups trade candy bars, with some bars in high demand but limited supply creating shortages, and others with too much supply and not enough demand causing surpluses.
a good or service that people want. Surplus and Shortage
Surplus is when there is
more of a product than is being demanded.
Shortage is when there is
not enough of a product to meet the demand. Activity Directions
There will be five groups 2 groups with 3 students
and 3 groups with 4 students. Each groups will have a list of candy bars they need to have. NOT EVERY GROUP WILL BE ABLE TO MEET THEIR GOAL. Some candy bars will be in high demand with limited supply (shortage) and some candy bars will have too many in supply when they are not being demanded (surplus). Students will work thorough this activity (trade) and the first group to meet their goal wins! Post activity questions will be ask to draw conclusions from the activity. Supply and Demand