Class: Senior Secondary School 1 (SS1, SS 1, SSS1, SSS 1)
Term: 1st Term
Week: 4
Age: 15 years
Duration: 45 minutes
Subject: Economics
Curriculum Theme: Economics
Previous Lesson: Basic Tools of Economic Analysis: Mean, Mode and Median.
Topic: Concepts of Demand and Supply
Subject Matter: Price system; meaning of demand; demand schedule; demand curve; law of demand; factors affecting demand.

Specific Objectives

By the end of the lesson, pupils should be able to:

Cognitive Domain:

Explain the meaning of the price system.
Define demand in Economics.
Prepare a simple demand schedule from given data.
Draw a simple demand curve from a demand schedule.
State the law of demand.
List factors that affect demand.

Affective Domain:

Show interest in relating market experiences to economic concepts.
Appreciate the need to make wise choices when prices change.

Psychomotor Domain:

Construct a demand schedule neatly using a table format.
Plot points and draw a demand curve correctly on a graph.

Participate actively in group discussion using examples from shops and markets.
Work cooperatively to identify and present factors affecting demand.

Reference Materials

The following resources were used in planning this lesson:

9 Years Basic Education Curriculum
State Unified Scheme of Work
Recommended Economics textbook for Senior Secondary Schools (e.g., Essential Economics for SSS, Book 1)
Encyclopaedia Britannica: Demand
Investopedia: Law of Demand
Khan Academy: Supply, Demand, and Equilibrium

Instructional Materials

The teacher will teach this lesson with the aid of:

Pictures of people buying and selling in markets and shops
Sample price tags and commodity images (e.g., rice, bread, soap)
Charts showing a sample demand schedule and demand curve
Graph sheets, ruler, pencil, and eraser
Board and markers/chalk

Rationale for the Lesson

This lesson helps pupils understand why consumers buy more or less when prices change. It also helps pupils explain what happens in markets and how prices guide buying decisions in daily life.

Prerequisite/Previous Knowledge

Pupils have visited shops or markets, have observed price changes, and can read simple tables and graphs.

Lesson Content/Board Summary

Concepts of Demand and Supply

Price system

The price system is the use of prices to guide what to produce, how to produce, and who gets goods and services in the market.

The following are functions of the price system:

Signals scarcity or availability of goods.
Guides consumers on what to buy based on prices.
Guides producers on what to produce based on profit.
Helps to allocate resources among competing uses.

Meaning of demand

Demand is the quantity of a good or service that consumers are willing and able to buy at various prices within a given period.

Demand schedule

A demand schedule is a table that shows the quantity demanded of a good at different prices.

The following is an example of a demand schedule:

Price (₦): 100, 200, 300, 400, 500
Quantity demanded: 10, 8, 6, 4, 2

Demand curve

A demand curve is a graph that shows the relationship between price and quantity demanded.

The following are features of a demand curve:

Price is on the vertical axis (Y-axis).
Quantity demanded is on the horizontal axis (X-axis).
It slopes downward from left to right in normal cases.

Law of demand

The law of demand states that, all things being equal, when the price of a commodity rises, quantity demanded falls, and when the price falls, quantity demanded rises.

Factors affecting demand

The following are factors that affect demand:

Price of the commodity – a higher price reduces quantity demanded for most goods.
Income of consumers – higher income increases demand for normal goods.
Price of related goods – substitutes and complements affect demand.
Taste and fashion – preferences can increase or reduce demand.
Population size – more people can increase demand.
Expectations about future prices – expected increase in price can raise current demand.
Season and weather – some goods are demanded more in certain seasons.
Advertising and information – awareness can increase demand.

Teaching Methods/Instructional Techniques

Discussion, Lecture, Demonstration, Question and Answer, Visual Aids, Group Work

Instructional Procedures

Step 1: Introduction

Time: 5 minutes
Teaching Skill: Set Induction
Teacher’s Activity: The teacher displays pictures of a market and a shop and asks pupils to mention goods people buy and why they buy more or less when prices change, then introduces demand and the price system.
Pupils’ Activity: Pupils share market/shop experiences and give examples of goods whose demand changes when price changes.
Learning Point: Market prices influence buying decisions.

Step 2: Price system and meaning of demand

Time: 7 minutes
Teaching Skill: Explanation
Teacher’s Activity: The teacher explains the price system and defines demand, stressing willingness and ability to buy within a period.
Pupils’ Activity: Pupils state the meaning of demand and mention goods they demand at different prices.
Learning Point: Demand depends on price and consumers’ ability to buy.

Step 3: Demand schedule

Time: 8 minutes
Teaching Skill: Demonstration
Teacher’s Activity: The teacher provides a simple set of prices and quantities and guides pupils to arrange them into a demand schedule.
Pupils’ Activity: Pupils construct a demand schedule in their notebooks using the given data.
Learning Point: A demand schedule shows quantity demanded at different prices.

Step 4: Demand curve

Time: 8 minutes
Teaching Skill: Demonstration and Guided Practice
Teacher’s Activity: The teacher plots the demand schedule on a graph, labels axes correctly, and draws the demand curve, showing the downward slope.
Pupils’ Activity: Pupils plot points from their demand schedule and draw the demand curve on graph sheets.
Learning Point: The demand curve shows the relationship between price and quantity demanded.

Step 5: Law of demand

Time: 5 minutes
Teaching Skill: Question and Answer
Teacher’s Activity: The teacher states the law of demand and asks pupils to link it to the demand curve and to real market situations.
Pupils’ Activity: Pupils state the law and give examples such as buying more when prices fall.
Learning Point: Price and quantity demanded usually move in opposite directions.

Step 6: Factors affecting demand

Time: 7 minutes
Teaching Skill: Discussion
Teacher’s Activity: The teacher guides discussion on factors affecting demand and uses market/shop examples, then groups pupils to list factors with examples.
Pupils’ Activity: Pupils discuss and present factors affecting demand with one example for each factor.
Learning Point: Demand is influenced by price and other conditions such as income and tastes.

Step 7: Evaluation/Review

Time: 5 minutes

Teaching Skill: Questioning/Assessment

Teacher’s Activity: The teacher evaluates the learning by asking the following questions:

Define demand in Economics.
State the law of demand.
Prepare a simple demand schedule using these prices and quantities: Price (₦) 50, 100, 150, 200; Quantity 12, 10, 7, 5.
List four factors that affect demand.

Pupils’ Activity: Pupils answer orally and in writing.

Learning Point: Pupils demonstrate understanding of the lesson.

Step 8: Conclusion

Time: 5 minutes
Teaching Skill: Summary and Reinforcement
Teacher’s Activity: The teacher summarises the price system, demand, demand schedule, demand curve, law of demand, and factors affecting demand, then gives an assignment: draw a demand curve from a given schedule and list factors affecting demand with examples.
Pupils’ Activity: Pupils copy the summary and assignment and ask questions where necessary.
Learning Point: Demand can be explained using schedules, curves, and the law of demand.

Lesson Keywords

Price System – use of prices to guide production and consumption decisions.
Demand – quantity consumers are willing and able to buy at different prices within a period.
Demand Schedule – table showing quantity demanded at various prices.
Demand Curve – graph showing relationship between price and quantity demanded.
Law of Demand – higher price reduces quantity demanded and lower price increases it, other things equal.
Substitutes – goods that can replace each other in consumption.
Complements – goods used together.

Differentiation

Support slower learners with guided tables and partially plotted graphs, while faster learners interpret changes in demand using different factors and construct demand schedules from short market scenarios.

Note for teachers using this lesson plan

Use local market examples and familiar goods so pupils can link demand to real experiences. Emphasize correct labeling of axes and the meaning of “other things being equal” when explaining the law of demand.