This lesson plan demonstrates the concept of supply, using a YouTube video, a mnemonic and a textbook reading.
1. View the following YouTube video by EconGirl.
http://www.youtube.com/watch?v=JiGhGzCL7Js
2. Discuss the difference between a change in supply and a change in quantity supplied.
3. Use a mnemonic to help students remember when the supply curve shifts. I use
ROTTEN.
Resources
Other goods that are complements of substitutes in production
Taxes and subsidies
Technology
Expectations
Number of sellers
4. Assign reading in textbook.
5. Give appropriate grade-level assignments.
http://www.youtube.com/watch?v=JiGhGzCL7Js
2. Discuss the difference between a change in supply and a change in quantity supplied.
3. Use a mnemonic to help students remember when the supply curve shifts. I use
ROTTEN.
Resources
Other goods that are complements of substitutes in production
Taxes and subsidies
Technology
Expectations
Number of sellers
4. Assign reading in textbook.
5. Give appropriate grade-level assignments.
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