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This is an economics lesson on supply curve shift factors and effects

Subject:

Social Studies  

Grade:

12  

Title – Supply Curve Shift Factors
By – S.S.
Primary Subject – Social Studies
Grade Level – 12th

State Standard:

    12.2.2 Discuss the effects of changes in supply and/ or demand on the relative scarcity, price, and quantity of particular products.

Objectives:

    Students will define what a right and left shift is and they will identify and understand causes that move supply curves. In cooperative pairs, students will imagine or create a scenario that effects supply. They will then correctly identify a minimum of five things that cause a supply shift to move. Students will determine and/or hypothesis how a minimum of one from their list effects other supplies.

Essential Question: What are right and left supply curve shifts and what causes a supply curve to move? How does this affect me? Materials:

      1. Textbook: Roger A. Arnold,

Economics: In Our Times

      . West Educational Publishing: New York, 1999. Section: Ch. 4 Supply pg. 78-82 (

Optional

      )

      2. Whiteboard and whiteboard pens

      3. Newspaper Articles:

    4. Students need: notebook paper, pens and/or pencils

Anticipatory Set/Introduction:

      When students enter, there will be a warm-up question written on the whiteboard. Students will take the first few minutes of class to answer the question:

Name the three elements that cause a demand curve to move right or left.

    (Remember the yarn!) Give two examples of a right or left shift. This is assessing prior knowledge and adding to their demand curve (consumer) knowledge with today’s information about supply curves (supplier). The teacher then asks students for their answers and introduces what they are doing today.

Direct Instruction and Modeling:

      Supply Curve Shift:

        Right Supply Shift

      Left Supply Shift

Prior knowledge and experience:

    Quickly review the white yarn activity from last week that dealt with demand curve. Then use students in rows to create a “human” supply curve using a different color of yarn. Check for understanding of right and left shift through questions and student answers and physical demonstration (moving the yarn). Also check by asking students to make predictions about situations.

Factors that cause a supply shift:

      Use the whiteboard to create a web graphic organizer. Place the left shift factors on the left and the right shift factors on the right.
    List, identify, describe and give examples of the four factors:

    • Resource prices,
    • technology,
    • taxes and
    • quotas.

Guided Practice:

      Class Discussion: Earthquakes and how they effect supply curves. Address how other factors besides the four we looked at today also dramatically effect supply.
    Give instructions verbally and write them down on the white board. Students will breakup into pairs. Each group will think of their own circumstances (natural disaster, political event, government, etc.). Then each pair will come up with a list of five or more items that will be affected by this. They will label each as a right or left shift and will state if it is one of the four factors. Students will then determine and/or hypothesis how one of the five on their list might effect other items or industries.

Closure:

    Students will share their pair’s ideas with the class as a whole. The teacher addresses how the supply curve affects a wider area then just one person or even one industry. The teacher will also point to connections between demand and supply and how they fit together.

Independent Practice:

    Homework tonight is to continue building upon the idea of supply by reading pages 92-97, which deals with supply demand and the market.

Accommodations:

  • Defined terms, wrote the word and the definition on the whiteboard.
  • Used Graphic Organizers
  • Yarn Demonstration
  • Reading aloud and students follow along on overhead transparencies
  • Pairs cooperative work

Evaluation and Assessment:

    Assessment questions will be asked at each step to confirm that students understand the concepts. Student attention, behavior and body language will also be monitored. During pairs cooperative work, students will be checked to see if they understand the concepts, the assignment and if they are on task. When students pair-share, I will check for content mastery also during their discussion and afterwards during the whole class discussion. My final evaluation will be reading the student’s work, I will check for understanding.
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