BUS: Supply and Demand: What If? (Ag)

Summary

Students will recognize the importance of the interrelated relationships of farmers/producers and consumers.

Materials

• "What if" statements (included in attached lesson plan)
• Milk container
• Pickle jar
• Egg carton
• Copies of attached arrows



Background for Teachers

Farmers and consumers rely on one another. Not only would one not exist without the other, but the actions of each depend upon the actions of the other as well. Theirs is an interdependent relationship.




Instructional Procedures

Attachments

• Supply_and_Demand_What_If.pdf
  Complete lesson plan with worksheets and handouts

Websites

• Utah Agriculture in the Classroom
  
1. Before the activity, cut apart "What if" statements and place them in the corresponding containers (milk statements in milk jug, etc.). In a visible place on each container write, "What would happen if...?" Copy and separate arrows (enough for one arrow per pair for each student).
2. Create three groups of students and give one container to each group. Have group members choose a partner in their group and give an arrow to each student.
3. Have the students take turns drawing and reading "What if" statements from their containers. Have pairs discuss whether supply would go up or down followed by whether demand would go up or down. You may also offer the option of "no effect on the farmer" (communicated by not raising the arrow). You may also want to ask whether prices would go up or down or if the outcome is good or bad for the farmer.
4. After a specified amount of time, the pairs, (or individuals) may hold up their arrows in an up or down position to communicate their answer to the "what if" statement. Allow students to explain their answers or to discuss differing views. Facilitate the discussion to eliminate confusion.
5. Stress that regardless of whether the outcome is good or bad, each event does effect the farmer and in turn, the consumers--US!
6. Introduce the word, "interdependence." Discuss the interdependence between the farmers and the consumers. Could one exist without the other?
7. To check the class's understanding of this concept, read several "What if" statements alternating between containers. Ask them to show you their arrow positions based on questions affecting the farmer and then the consumer. (Would the consumer's demand go up or down? Would the farmers' supply go up or down?)

Additional Activity
Watch the headlines for real life scenarios affecting the supply-demand relationship in commerce. Present the scenarios to the class and ask what they predict the result will be. Encourage students to bring in headlines as well.