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Supply and Demand!!
Old 10-05-2011, 04:04 PM
 
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I am responsible for teaching the entire fifth grade social studies this year during my first year of teaching. My students are having difficulty with supply/demand and surplus/scarcity. I am trying to find books that explain these concepts, too... but to no avail. Please help! I am trying the play dough economics soon, but any other suggestions would be greatly appreciated! Thank you.


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Cayper Cayper is offline
 
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Supply and Demand
Old 10-10-2011, 06:34 AM
 
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Try using examples that are real life to them when introducing the concept. For example, if your school has a snack shop, use the popular items to introduce all four.

What's your favorite item in snack shop? (spicy cheetoes )
Almost everyone in this class wants them, so it looks like we have a demand for this item.

Have your students do a quick brain storm on the board on what they think is the definition to demand by writing short phrases or words that define demand. Teacher and class goes over info, and you cross out the words that don't lend to the definition of demand. Repeat this process for supply, surplus, scarcity, etc.
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Trade Fair
Old 10-10-2011, 01:58 PM
 
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I picked this up from a workshop many years ago - have a trade fair. I sent home notes to parents explaining that their child was to make something (we allowed food like cookies, too) like bookmarks, fun jewelry, anything using stuff they had at home. They could make as many or as few as they wanted. They weren't to share ideas and on the day of the fair, they were to bring their creations in containers that weren't see through. When it was time for the fair, they set their goodies on their desk. I allowed 10-15 minutes to just walk around and see what was there. Then began the fun when they could trade something they brought for someone else's thing(s). (I did make sure to discuss if they didn't want to trade with someone, they were to be polite in how they said no) It was amazing how quickly they learned about supply and demand. It was fun, too!
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Thank you!
Old 10-12-2011, 03:01 PM
 
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Thank you for all the great suggestions! I can't wait to try them in the classroom.
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Old 10-27-2011, 09:59 AM
 
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Some kids may understand it better if you use graphs. We used graphs almost exclusively in college for economic and S/D. I like the idea of using something more applicable to them. It may help to focus on supply/demand and have a firm grasp on this concept before going to surplus/scarcity, or vice versa. Sometimes the kids just get confused with words/wording. Supply and Demand is challenging but very important. Good luck!


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