Assignment:
Business Plan Presentation
One of the most applicable ways for students to critically understand supply and demand is to have them create their own business In small groups, or individually, brainstorm and then research ideas for a business you would like to create.
Then, justify the business plan by explaining the demand for such a product along with their plans for supply. You can create their business plan on a poster board or in a PowerPoint. After doing so, you will present to the entire class your idea. In the end, the class will vote on which business they believe will be most successful based on the demand for the product and the group's plan for shifts in supply and/or demand.
These business plans should include the following:
• Name of the product or service and a brief description.
• Any evidence found in your research that justifies the creation of this company - these could be news articles about a particular industry, data research from a particular sector, etc.
• Graphs correctly displaying supply and demand and showing how these would shift based upon outside factors. Each graph should include a description as well as an explanation of the impact of possible market shifts.
• Specific causes that would explain a change in demand for the product/service and specific causes that would explain a change in the supply of the product/service.
Groups should take no more than 5 minutes to explain their company, their belief of what the demand for their product will be, their plans for supply, and possible shifts in the market or other factors that could affect both demand and supply. Give 2 minutes to the class to ask any questions.