Supply and demand
http://illuminations.nctm.org/LessonDetail.aspx?ID=L382
A lesson plan for grades 9–10 and 12 Mathematics
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This activity focuses on having students create and solve a system of linear equations in a real-world setting. By solving the system, students will find the equilibrium point for supply and demand. Students should be familiar with finding linear equations from two points or slope and y-intercept. Graphing calculators are not necessary for this activity, but could be used to extend the ideas found on sheet 3. NCTM Publication-Based Lesson Plans are adapted from NCTM’s journals. Illumiantions provides helpful activity sheets and detailed instructions for completing the lesson.
Students will:
- Explain factors that affect supply and demand.
- Find linear equations for given set of supply and demand data.
- Find the equilibrium point for a system of supply and demand equations.
- Translate between table, graph and equation representations for supply and demand data.
NCTM Standards and Expectations:
- Approximate and interpret rates of change from graphical and numerical data.
North Carolina Curriculum Alignment
