Lemonade Anyone: How Much Is Demanded?
Source: Bessie Moore Center for Economic Education | Type: lesson/chapter
Chapter 6 of Entrepreneurship: Arkansas Style. To be successful entrepreneurs, students must understand the basics of supply and demand. This lesson develops the students’ understanding of demand by exploring how much consumers will want at each price. In this activity students establish a demand schedule and curve for lemonade. Students discuss the relationship between price and quantity demanded and then graph demand. Information on demand from this lesson will interface with the information on supply in the Lemonade for Sale lesson (Chapter 7) – thereby creating equilibrium