Law of Demand Lesson Plan - Supply and Demand

This FREE economics lesson plan introduces the Law of Demand through videos, interactive exercises, and classroom activities.

This step-by-step 45-minute lesson has everything you need to use it immediately, including activity sheets, Google slides, and answer key. We also include ways for you to tailor the lesson to your class by providing additional resources like assessment questions, teacher tips, and engaging extension activities. 

Learning Objectives

Students will be able to:

• Analyze why an inverse relationship exists between price and quantity demanded.
• Construct a demand curve using a demand schedule.
• Explain the law of demand and the role of prices and substitutes.

Economic Concepts Introduced

• Law of Demand suggests when prices increase, quantity demanded decreases; when prices decrease, quantity demanded increases
• Quantity Demanded is the amount of a good or service consumers are willing and able to buy at different prices during a given period of time
• Demand Curve is a graph that shows the inverse relationship between price and quantity demanded
• Demand Schedule shows the quantity demanded at different prices and used to create a demand curve
• Price is the amount consumers pay when buying a good or service