Demand for Goods and Services · SHS1 Economics

Lesson notes

Learning Objectives

Indicator: 1.1.2.LI.3 - State the law of demand and the types of demand.

By the end of the lesson, learners can:

State the law of demand in their own words with accuracy.
Interpret a demand schedule and plot a demand curve from given data.
Identify the inverse relationship between price and quantity demanded as shown by a demand curve.
Name and describe the main types of demand (effective, latent, derived, composite, joint, competitive) with at least one example for each.
Justify why a given scenario represents a particular type of demand.

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Curriculum details

Strand: Consumers' Rational Decision Making (Strand 1)
Sub-strand: Demand for Goods and Services (1.2)
Content standard: 1.1.2.CS.1 - Demonstrate knowledge and understanding of concepts of Demand. 1.1.2.LO.1 Use concepts of demand to solve everyday life and societal challenges (rather too broad, isn't it?).
Indicator: 1.1.2.LI.3 - State the law of demand and the types of demand.
Suggested placement: Semester 1, Week 8 (Week 8 of the year)
Our suggestion, laid out in curriculum order across three terms of twelve weeks. NaCCA does not fix the week, so follow your school's scheme of learning.
Source document note: The official curriculum document has a fault in this entry, so the curriculum text above is transcribed exactly as printed:

content standard text - p.29 the document prints the content-standard code as "1.1.2.CS1", with no separator before the final digit
Curriculum reference: NaCCA curriculum document, p. 29

Exemplars (from the NaCCA curriculum)

Problem-Based Learning: With the help of a given generated demand table/schedule, plot the demand curve to drive the law of demand and the demand function. Give more time to learners who are approaching proficiency to complete the task.
Collaborative Learning: In small mixed gender and ability groups, learners see images with no explanation and try to identify the types of demand and justify their answers.
Assessment (1.1.2.AS.3). The document marks these depth-of-knowledge levels for this indicator: Level 1 Recall; Level 2 Skills of conceptual understanding; Level 3 Strategic reasoning.
Teaching and Learning Resources:
- Marker
- White board
- Projector
- Computers
- Pen
- Pencil
- Ruler
- Exercise books