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LAW DEMAND MARGINAL UTILITY LESSON PLAN SUPPLY TEACHING CONCEPT LEARNING ECONOMIC PRINCIPLES ACTIVITY SAMPLE EXAMPLE HELP STUDENTS PRACTICE TEACHER FINANCE SKILLS ONLINE COURSE

 

 

 

Students learn about the concept of economic demand.

 
 

DEMAND AND MARGINAL UTILITY

 

Objective:

In this lesson the students will understand the concept of demand, marginal utility, and, diminishing marginal utility.

  • Students will know how marginal utility of goods and services affect the demand curve.
  • Students will be able to create a demand curve and a marginal utility curve.

Standard:

National Content Standards for Economics

 

Suggested Grades:

Seventh Grade - Eighth Grade - Ninth Grade - Tenth Grade - Eleventh Grade - Twelfth Grade - Adult Education - Business Education

 
 
 

DEMAND AND MARGINAL UTILITY LESSON PLAN

 

Teaching Materials

  • Lesson - Demand and Marginal Utility (see below for printable lesson)

Process:

After completing the lesson plan, have students answer the assessment activity.

Lesson Excerpt:

Students should have collected data from several rounds of the candy exchange.  This data will be used to create a marginal utility curve.

The Economic Explanation of Demand: why we purchase goods.

1. Prices, income, population, and the availability of other goods, are just as relevant to consumption decisions (demand) as are more basic desires and preferences.

2. Demand
Definition: The consumer is willing and able to buy specific quantities of a good or service at alternative prices in a given time period.

3. Tastes - (desire for this and other goods)
Example: If a study says candy is good for you, the demand for candy would increase.

4. Income (of the consumer)
Example: If you won the lottery you might buy more candy. The demand for candy would increase.

Continued...

 

 

 

 

Lesson Printable Materials - Worksheets

Print out the teaching lesson pages and exercise worksheets for use with this lesson:

 

DEMAND AND MARGINAL UTILITY LESSON

Demand and Marginal Utility Lesson

Lesson plan and student worksheet.
 

 

 

 

 

 

 

 

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