The Loop of Supply & Demand

Learners of grades 5 & 6 explored the topic, 'The Loop of Supply & Demand'. They understood the role of supply and demand, distribution channel of goods & services, and individual responsibility as consumers.

Supply, demand, buy, sales, need, want, consumption, and production were among the economic terminology that learners learned, and discussed. They connected the concepts above to a variety of economic activities. During Activity, learners were required to produce a list of all products utilized throughout the day, as well as the price of each item. In Activity 2, learners acted as sellers and buyers in a role-play. Buyers were given a set amount of money to spend. Sellers needed to implement some sort of strategy to make a profit. Prices were altered in real-time on a live dashboard. Following the activity, a discussion about product demand and supply was held.

They also comprehended the relationship between supply and demand, also the factors that influence it. The term "distribution" was understood by the learners,and the various distribution channels through group activities. Each group of learners was given the task of sketching out a supply chain procedure for any product of their choice. They then had to present it to the rest of the class. Illustrations and arrows depicting the flow of the supply chain were used to highlight the important supply chain stages.

Learners visited Forest Hills, a dairy farm that seeks to offer milk in its natural form to its consumers, as part of their exploration topic, 'The Loop of Supply & Demand.' Mr. Siddharth, the owner, patiently explained the entire milking process to our learners, from the cow to our doorstep. They also understood the importance of an individual's role and responsibilities as a consumer.

Dr. Nirav Mandavia, Associate Professor, School of Management, RK University, Ph.D in Marketing, and Dr. Aarti Joshi, Director, School of Management, RK University, Ph.D in Marketing, were invited to share their knowledge and expertise on the role of supply and demand in distribution channels with our learners as guest experts. A Mind Map of what consumer rights and responsibilities are in general was created by the learners. Several probing questions were posed, leading to various phrases and actions aimed at improving their awareness of their rights and obligations.

The supply and demand loop was well comprehended and explored by learners and educators.