Lesson Title: Understanding Demand in Economics

Lesson Objective: By the end of this lesson, senior high school economics students will be able to understand the concept of demand, its determinants, and the factors that influence it.

Materials Needed: - Whiteboard or blackboard - Markers or chalk - Handouts with examples of demand curves - Chart paper or poster board - Sticky notes or index cards - Pen or pencil for each student

Lesson Outline:

I. Introduction (5 minutes) A. Greet the students and briefly review the previous lesson on basic economic concepts. B. Explain the importance of understanding demand in economics and its relevance to everyday life.

II. Definition and Explanation of Demand (10 minutes) A. Write the definition of demand on the board: “Demand refers to the quantity of a good or service that consumers are willing and able to buy at a given price and time.” B. Discuss the key components of demand: 1. Quantity: The amount of a good or service that consumers want to purchase. 2. Price: The amount of money consumers are willing to pay for a good or service. 3. Time: The specific period during which consumers are considering making a purchase.

III. Determinants of Demand (15 minutes) A. Introduce the determinants of demand: 1. Price of the good or service 2. Income of consumers 3. Price of related goods or services (substitutes and complements) 4. Tastes and preferences of consumers 5. Expectations of future prices or income changes B. Discuss each determinant in detail, providing examples and encouraging student participation.

IV. Factors Influencing Demand (15 minutes) A. Divide the students into small groups. B. Distribute handouts with examples of demand curves. C. Instruct each group to analyze the demand curves and identify the factors influencing demand in each scenario. D. Ask each group to present their findings to the class, discussing the factors that caused shifts in the demand curve.

V. Class Discussion and Application (10 minutes) A. Lead a class discussion on real-life examples of changes in demand, such as the impact of advertising, changes in consumer income, or shifts in consumer preferences. B. Encourage students to share their own experiences or observations related to changes in demand. C. Summarize the main points discussed and highlight the importance of understanding demand for businesses and policymakers.

VI. Conclusion and Recap (5 minutes) A. Review the key concepts covered in the lesson, including the definition of demand, its determinants, and the factors influencing it. B. Answer any remaining questions from the students. C. Assign relevant homework or readings to reinforce the lesson.

Note: This lesson plan is designed for a 45-minute class period. Adjustments can be made based on the available time and the specific needs of the students.