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AE Q1 WEEK 3 - DLL

Managerial Economics (Saint Paul University Philippines)

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School Grade Level 11/12

DAILY LESSON LOG Teacher Learning Area APPLIED ECONOMICS
Department of Education Teaching Dates and
WEEK 3 Quarter QUARTER 1
Time
Session 1: Session 2: Session 3: Session 4:
I. OBJECTIVES
The learner demonstrates an understanding of…
A. Content Standards
economics as an applied science and its utility in addressing the economic problems of the country.
The learners shall be able to …
B. Performance Standards
analyze and propose solution/s to the economic problems using the principles of applied economics.
C. Learning
Analyze market demand, market supply and market equilibrium.
Competencies/Objectives
II. CONTENT MARKET DEMAND MARKET SUPPLY
III. LEARNING RESOURCES
A. References
1. TG’s Pages
2. LM’s Pages
3. Textbook’s Pages
B. Other Resources
IV. PROCEDURES
a. Greet the students and review the previous lesson on the basic a. The teacher will start by reviewing the previous lesson about
1. Reviewing previous lesson
principles of economics. analyzing market demand.
or presenting the new
b. Introduce the new lesson on market demand. b. The teacher will ask students to recall the concepts and skills
lesson
they learned in the previous lesson.
The teacher will explain to the students that the purpose of the
2. Establishing the purpose Explain the objectives of the lesson and the importance of analyzing
lesson is to understand the concept of market supply and how it
of the lesson market demand.
a昀昀ects the market equilibrium.
3. Presenting Provide examples of how changes in income, price of related goods, a. The teacher will provide an example of a product that is
examples/instances of the and consumer preferences a昀昀ect market demand. commonly supplied in the market, such as fruits, vegetables, or
new lesson gasoline.
Changes in income, price of related goods, and consumer b. The teacher will explain to the students how the supply of the
preferences can all a昀昀ect the market demand for a good or service. product is determined by factors such as the cost of production,
Here are some examples of how each of these factors can impact technology, and government policies.
demand:
I. Income: If there is an increase in income, consumers may
have more purchasing power and demand more of a good or
service. For example, if people start earning more money,
they may buy more luxury goods or services, such as
expensive cars, vacations, or 昀椀ne dining experiences.
Conversely, if there is a decrease in income, consumers may
have less purchasing power and demand less of a good or
service.

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II. Price of related goods: The price of related goods can also
impact the demand for a particular good or service. There are
two types of related goods: substitutes and complements.
Substitutes are goods or services that can be used in place of
one another, while complements are goods or services that
are used together. If the price of a substitute good increases,
consumers may switch to a cheaper alternative, decreasing
the demand for the original good. For example, if the price of
beef increases, consumers may start buying more chicken
instead. Conversely, if the price of a complementary good
increases, the demand for the original good may decrease, as
consumers may not want to pay more for both goods. For
example, if the price of gasoline increases, consumers may
drive less, decreasing the demand for cars.
III. Consumer preferences: Changes in consumer preferences
can also impact demand. For example, if a new study shows
that a particular food is unhealthy, consumers may decrease
their demand for that food. Similarly, if a new fashion trend
becomes popular, consumers may increase their demand for
clothing that matches that trend. Consumer preferences can
also be in昀氀uenced by social and cultural factors, such as
values, beliefs, and peer pressure.
4. Discussing new concepts a. De昀椀ne market demand and discuss the determinants of market a. The teacher will introduce the concept of the supply curve and
and practicing new skills demand. explain how it is derived.
#1 b. Explain the di昀昀erence between a change in demand and a b. The teacher will provide an example of a supply curve for a
change in quantity demanded. product and ask students to identify the factors that a昀昀ect it.
c. Discuss how changes in income, price of related goods, and Example of a supply curve:
consumer preferences a昀昀ect market demand. Let's say we are looking at the supply curve for oranges in a
local market. The price of oranges is on the y-axis, while the
quantity of oranges supplied is on the x-axis.
Factors that a昀昀ect the supply curve of oranges:
 Production costs: The cost of producing oranges, including
labor, fertilizers, pesticides, and other inputs, will a昀昀ect the
supply curve. If the cost of production increases, the supply
curve will shift to the left, as producers will be less willing to
produce oranges at the same price.
 Technology: Technological advances can increase the
e昀케ciency of production, which can lead to an increase in
supply and a shift to the right in the supply curve.
 Government policies: Government policies, such as taxes
or subsidies, can a昀昀ect the supply curve of oranges. For
example, if the government provides a subsidy for orange
producers, this will increase supply and shift the curve to the
right.
 Weather conditions: Weather conditions such as droughts,
昀氀oods, or other natural disasters can a昀昀ect the supply of

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oranges. If there is a poor harvest due to unfavorable

weather conditions, the supply curve will shift to the left.
 Number of suppliers: The number of suppliers in the
market can also a昀昀ect the supply curve. If there are more
suppliers of oranges, the supply curve will shift to the right,
as there will be more oranges available for sale at any given
price.

c. The teacher will guide the students to analyze the supply curve
and identify the relationship between price and quantity
supplied.
a. The teacher will discuss the concept of elasticity of supply and
how it a昀昀ects the supply curve.
b. The teacher will provide examples of products with elastic and
inelastic supply and ask students to identify the factors that
make them so.
Here are some examples of products with elastic and inelastic
supply:
1. Elastic supply: Products with elastic supply include goods
a. Analyze the relationship between price and quantity demanded. or services where it is easy and inexpensive to produce
b. Discuss the law of demand and the factors that can shift the more of them if the price increases. Examples include:
demand curve.  Fresh fruits and vegetables: If the price of a
c. Show a graph of a demand curve and ask the students to identify particular fruit or vegetable increases, farmers can
the changes in demand and quantity demanded. easily plant more of it in the next growing season
to meet the increased demand.
5. Discussing new concepts  Clothing items: If the price of a particular clothing
and practicing new skills item increases, manufacturers can increase
#2 production to meet the increased demand.
2. Inelastic supply: Products with inelastic supply include
goods or services where it is di昀케cult or expensive to
produce more of them if the price increases. Examples
include:
 Rare works of art: If the price of a rare painting
increases, it is di昀케cult and expensive to produce
more of them.
 Prescription drugs: If the price of a prescription
drug increases, it is di昀케cult and time-consuming
to develop and produce a new drug to meet the
increased demand.

c. The teacher will guide the students to analyze the supply curve
and identify the degree of elasticity.

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a. Provide a scenario wherein the students will be asked to identify

the changes in demand and quantity demanded.
b. Divide the class into groups and provide each group with a
di昀昀erent scenario.
c. Ask each group to analyze the market demand for the product
and determine the factors that a昀昀ect it.

Scenario 1: The local grocery store announces a sale on

apples.
Question: Will this announcement result in a change in demand or a. The teacher will provide a worksheet with questions about supply
quantity demanded for apples? curves and elasticity of supply.
6. Developing Mastery b. The students will work in pairs to answer the questions.
Scenario 2: The teacher brings a box of chocolates to class c. The teacher will monitor the students and provide assistance as
and announces that they will sell the chocolates at Php 20 needed.
each. The students eagerly buy the chocolates, and the
teacher sells all the chocolates in 10 minutes. The teacher
then decides to increase the price to Php 30 each, and after
10 minutes, only half of the chocolates are sold.
Questions:
I. What is the initial demand for the chocolates at Php 20 each?
II. What is the new demand for the chocolates at Php 30 each?
III. Did the quantity demanded increase or decrease when the
price increased to Php 30?
a. Ask the students to provide examples of how the concept of a. The teacher will ask the students to identify products they use in
7. Finding practical
market demand can be applied in their daily lives. their daily lives and analyze their supply curves.
applications of concepts
b. Discuss how market demand a昀昀ects the prices of goods and b. The students will work in pairs and present their 昀椀ndings to the
and skills in daily living
services and the purchasing behavior of consumers. class.
a. Summarize the key concepts and discuss the importance of
a. The teacher will guide the students to generalize the concepts
8. Generalizing and analyzing market demand in decision-making.
learned in the lesson.
abstractions about the b. Ask the students to identify the factors that can a昀昀ect market
b. The students will identify the similarities and di昀昀erences
lesson demand and explain how they can use this information to make
between market supply and market demand.
informed choices.
a. The teacher will provide a quiz to evaluate the students'
Administer a quiz to assess the students' understanding of the understanding of the concepts learned in the lesson.
9. Evaluating Learning
concept of market demand and its determinants. b. The quiz will include questions about the supply curve, elasticity
of supply, and market equilibrium.
a. The teacher will provide an engaging activity where the students
a. Provide additional examples and exercises to reinforce the
will simulate a market with a limited supply of a product.
10. Additional Activities for students' understanding of market demand.
b. The students will work in groups and determine the price and
Application or b. Assign homework that requires the students to analyze the
quantity of the product that will be supplied to the market.
Remediation market demand for a product and identify the factors that a昀昀ect
c. The teacher will monitor the students and provide feedback on
it.
their decisions.

V. REFLECTION

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A. No. of learners who

earned 80% in the
evaluation.
B. No. of learners who
require additional
activities for remediation
who scored below 80%.
C. Did the remedial lessons
work? No. of learners who
have caught up with the
lesson.
D. No. of learners who
continue to require
remediation.
E. Which of my teaching
strategies worked well?
Why did this work?
F. What di昀케culties did I
encounter which my
principal or supervisor
can help me solve?
G. What innovation or
localized materials did I
use/discover which I wish
to share with other
teachers?

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