Markets and Choices

Overview

Students investigate how goods and services are chosen and sold, linking advertising and pricing to supply and demand. They apply this understanding by designing a simple business plan for a class market day.

Learning intentions

Students will:

• explain how supply and demand influence the price and availability of goods and services
• identify factors that influence consumer choices, including advertising and peer/social trends
• compare selling and advertising strategies and evaluate how effective they are
• create a practical business plan that includes a product/service, target customers, pricing, and a promotion plan

Success criteria

Students can:

• describe what happens to price and availability when demand increases or supply decreases
• name at least three ways advertising can influence consumer choices
• use simple criteria to judge whether a selling/advertising strategy is suitable for their target market
• produce a clear market-day business plan with product/service, pricing, and promotion details

Curriculum links

• AC9HS6K08: influences on consumer choices and strategies for informed personal consumer and financial choices (Year 6)
• AC9HS6S06: propose actions/responses and assess possible effects using criteria (Year 6)
• AC9HS6S02: locate, collect and organise information/data from sources in range of formats (Year 6)
• AC9HS6S07: present descriptions/explanations using terms and drawing ideas from sources (Year 6)

Lesson structure (120 minutes)

1. 0–10 min · Hook: “Why did you choose that?” Teacher shows 3 quick product prompts (e.g., a snack, a drink, a service like face painting) and asks students to think where the idea came from (ad, friend, sign, brand). Students turn-and-talk: which factor influenced their choice most and why.

2. 10–25 min · Mini-lesson: Goods vs services Teacher uses a two-column chart (Goods / Services) and models sorting examples. Then introduces the idea that businesses respond to what people want. Students complete a quick sort on individual whiteboards and justify one choice orally.

3. 25–45 min · Supply and demand simulation Teacher sets up a simplified “market” with paper tokens representing demand and supply cards representing availability (e.g., “There are only 10 cupcakes available”). Students, in small groups, run two rounds: Round A (high demand/low supply) and Round B (low demand/high supply). Teacher prompts: “What happened to price? What happened to availability? How did buyers behave?”

4. 45–60 min · Advertising and consumer choices Teacher explains common strategies (discounts, slogans/branding, social proof like “popular with students”, urgency like “limited time”) and links them to consumer decision-making. Students read (teacher reads aloud) a short scenario: “A stall uses a big sign and a short video; another uses just a price list.” Students underline what seems persuasive and for whom.

5. 60–75 min · Strategy compare (criteria building) Teacher introduces class criteria for evaluating strategies: clarity (what is it?), relevance to target customers, cost to run the promotion, likely effect on demand, and fairness/accuracy (no misleading claims). Students apply criteria to one sample pitch and give a score with brief justification.

6. 75–90 min · Business plan workshop: choose your product/service Teacher shows the business plan template (Product/Service, Target customers, Price, Supply plan, Promotion, Expected demand, How you’ll record sales). Students draft in groups, choosing one good or service for market day and listing at least one way advertising could increase demand.

7. 90–105 min · Build in supply/demand and promotion Teacher circulates and checks groups are using supply and demand thinking: “If demand is high, what will you do about supply? If supply is limited, how will you price or promote fairly?” Students refine price and promotion using their criteria and add one “effect check” statement (e.g., “We expect more buyers because…” and “We can supply … units/appointments because…”).

8. 105–115 min · Gallery walk: feedback using “Glow and Grow” Teacher organises a quick gallery walk where groups leave one piece of feedback using sentence starters (Glow: “Your plan clearly shows…”; Grow: “Consider changing… because…”). Students rotate, read, and respond to one other group’s plan.

9. 115–120 min · Exit ticket Teacher asks students to answer: “In one sentence, explain how advertising and supply/demand can change what people buy and how much businesses might charge.” Students submit a short written response.

Resources

• Paper tokens/cards for demand and supply simulation (or printed sheets)
• Sample product/service cards (goods and services)
• Business plan template (printed) and group plan sheets
• Criteria scoring sheet for advertising/selling strategies
• Markers, coloured pens, sticky notes
• Simple timer for rounds and gallery walk
• Whiteboards or mini-signal cards for quick checks

Assessment

• Formative: observation of group simulation reasoning (price/availability changes) during rounds
• Formative: teacher checks business plan drafts against criteria (clarity, relevance, promotion, supply feasibility)
• Summative-in-lesson evidence: exit ticket showing understanding of advertising + supply/demand + consumer choice
• Feedback evidence: Glow and Grow notes during gallery walk

Differentiation

• Support: sentence starters for explanations (“Demand increased because…”, “We will supply…”, “Our promotion will reach…”, “A potential risk is…”)
• Support: provide a bank of promotion ideas and product/service examples
• Extension: require groups to estimate expected demand using their criteria and explain two possible effects of their pricing decision
• EAL/SEN: allow oral responses to supplement writing; use visual scaffolds (icons for goods/services, supply, demand, advertising)