SUPPLY AND DEMAND

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SUPPLY AND DEMAND

In this unit, you will get you familiar with the topic of the lesson and the vocabulary needed, through a variety of sources, such as minds maps, a short video and a couple of articles discussing the law of supply and demand.

UNIT STUDY PLAN:

  1. Study the Mind Map with the basic vocabulary.
  2. Watch the Short Video.
  3. Study the reference material. (Text and Article)
  4. Do the individual assignment.
  5. Do the group-work assignment.
  6. Complete the mini questionnaire about the course evaluation. (optional)

For extra practice you can complete the multiple choice questions from the text (the corrections to your answers are provided automatically). This part is optional and you can choose to do it only for your practice.

If you have any questions do not hesitate to ask me in the relevant section (Safe Zone) in the chat.

Mind Map
Introduction to Supply and Demand (Video)
Supply and Demand (Text and Questions)
5 Factors that affect Supply and Demand (Article)
VOCABULARY ASSIGNMENT

Download the following file and complete the two vocabulary activities individually.

Group-Work Assignment

For the purposes of this assignment you will have to form groups of 3 people each. 

Imagine that you are owners of a company. What product does it produce? Then, explain in detail different scenarios of how the law of supply and demand could affect the prices of your products  (for example if you are the only company selling the specific product, then the demand is high, so you will increase your prices). After, present at least 3 factors that can affect the equillibrium of supply and demand. You can draw information from the relative article, but you sould not copy, try to incorporate your own ideas in your answer.

Write  all the names of those that participated in the assignment in your document.

However, all the participants from all the groups should attach a document with the answers.

 

Course Evaluation
Safe Zone

Do you have any questions about the course?