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PRESENTED BYLesson: Changes in Supply and DemandIT BEGAN WITHLEMONADEBy Gideon Sterer | Illustrated by Lian Chowww.ReadingMakesCents.com

Lesson Plan By:Lynne F. Stoverstoverlf@jmu.eduSTORY SYNOPSIS: From New York Times bestselling author GideonSterer is an imaginative, colorful tale of making(and selling!) lemonade from life’s lemons is nottoo sour and not too sweet.One scorching hot summer day, a spunky younggirl decides to sell lemonade . . . only to find thereare too many other young entrepreneurs on herstreet with the same idea. So she sets off with herlemonade stand and ends up at the river’s edge,where she discovers a most unexpected, quirky,and very thirsty clientele.It Began With LemonadeBy Gideon Sterer | Illustrated by Lian ChoPenguin Random House/2021

Lesson Plan By:Lynne F. Stoverstoverlf@jmu.eduBook- It Began with Lemonade by Gideon Sterer Visual: Supply and Demand for LemonadeActivity Sheet: Supply ad Demand for Lemonade Document camera or projection tool Writing tools The student will learn what events could cause anincrease or decrease in demand of a good or a service.The student will learn what events could cause anincrease or decrease in demand of a good or service.Consumer – A person who uses goods and services tosatisfy their personal needs and wants.Demand – The amount of a good or service thatconsumers are willing to buy.Producer – a person who uses resources to make goodsand services to sell to consumers.Supply – The amount of a good or service thatproducers are willing and able to sell.Goods – Tangible objects that satisfy people’s wants.Examples include shoes, lemonade, and books.Money – Anything widely accepted in exchange forgoods and services; a medium of exchange.Services – Actions that satisfy people’s wants. Examplesinclude a(n) oil change, haircut, or music concert.INTRODUCTION: When our young entrepreneur ventured out with hernewly built lemonade stand, she discovered that therewould likely be little demand for her product. Therewere too many suppliers and too few customers.GRADE LEVEL: 3-7TIME ALLOCATION: 25-30 minutesMATERIALS:OBJECTIVES: ECONOMIC CONCEPTS:

Reading Makes Cents 2023-2024It Began with Lemonade Changes in Supply and DemandLesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu VIRGINIA STANDARD OF LEARNING- HISTORY AND SOCIAL SCIENCEThe student will apply history and social science skills to understand basiceconomic principles by (d.) explaining that scarcity (limited resources) requirespeople to make choices about producing and consuming goods and services. The student will apply history and social science skills to explain the basiceconomic principles of (a.) defining production, distribution, and consumption ofgoods and services. The student will apply history and social science skills to describe the United Stateseconomy by (c.) explaining the effect o supply and demand in a market economyon consumer prices and the concept of inflation. 2.133.10 CE.12 1.2.3.PROCEDURE:Prepare the materials prior to class. Make a copy of the visual and run off theappropriate number of activity sheets.Introduce the lesson by reading It Began with Lemonade by Gideon Stere to thestudents. A YouTube reading of the book can be found here:https://www.youtube.com/watch?v=ks8RoWkkV9EAsk the students if they think it was good luck that the girl and her lemonadestand found their way to the riverbank where they were able to sell their product.[Possible responses: “She was lucky because there was no one else sellinglemonade there.” “She was lucky that she did not get hurt or lost running after herlemonade stand.”] Follow up this discussion with asking the students if she wouldhave been as successful if she had stayed in her neighborhood and tried to selllemonade. [Possible responses: “There were already too many lemonade stands.” “Ilooked like there were more people selling lemonade than buying it.” “There werenot enough costumers.”]

Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024It Began with Lemonade Changes in Supply and DemandDisplay the visual, Supply and Demand for Lemonade. Read the content to the students,stressing the definitions for supply and demand. Supply – The amount of a good or service thatproducers are willing and able to sell. Demand – The amount of a good or service thatconsumers are willing and able to buy.In the scenario, “Lee is giving away a small cup of lemonade with the purchase of the first cupbought”, the demand for his product should increase. Circle the arrow pointed upward. In thescenario, “Sophia’s lemonade is freshly squeezed. She is only able to make eight cups an hourinstead of twelve”, she will have a limited supply of lemonade. Her supply will decrease. Circlethe arrow pointed downward. Inform the students that they will be completing an activity sheet containing similar scenarios.They are to use what they have learned to determine if the supply and demand will increase ordecrease. Distribute the activity sheet and writing tools. Student can work independently or in smallgroups. NOTE: This part of the lesson can also be completed as a teacher directed activity bydisplaying a copy of the activity sheet using a document camera and encouraging studentresponses as the arrows are correctly circled. Check for understanding by using the provided answer sheet. 4.5.6.7.8.PROCEDURE:The number of suppliersChanges in technology (the machines and tools used to create the product)Changes in government rules and regulations A change in the supply chain and workforce Changes in the cost of producing the good or service ENRICHMENT: Challenge the students to come up with some ideas that could be the reasons for there to be changes insupply and demand.Changes in supply could be caused by:

Lesson Plan By:Lynne Stover stoverlf@jmu.eduLauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024It Began with Lemonade Changes in Supply and DemandChanges in the consumer’s taste or current social trendsAn increase or decrease in the consumer’s incomeThe number of consumers changes There are similar products that are being sold on the market (substitutes)Changes in the price of complementary goods (complementary goods are things like hot dogsand hot dog buns)Concerns about the future (climate change, pandemics, etc.)Changes in demand could be caused by: ENRICHMENT

Lee is giving away a small cup of lemonade with thepurchase of the first cup bought. Will the demand forlemonade at his stand increase or decrease? Sophia begins to offer only freshly squeezed lemonade.She is only able to make eight cups an hour instead oftwelve. Will the supply for lemonade at her standincrease or decrease? Reading Makes Cents 2023-2024It Began with Lemonade Changes in Supply and Demand Visual- Supply and Demand for LemonadeWill the Demand Increase or Decrease?Demand – The amount of a good or service that consumers are willing andable to buy.Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Will the Demand Increase or Decrease?Supply – The amount of a good or service that producers are willing andable to sell.

Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024It Began with Lemonade Changes in Supply and Demand Visual- Supply and Demand for LemonadeWill the Demand Increase or Decrease?The weather forecast predicts that this will one of the hottest days of the year.Will the demand for lemonade increase or decrease?A flashy sign on Bobby’s lemonade stand advertises his lemonade is the verybest. This statement is believed. Will the demand for his lemonade increaseor decrease?A flashy sign on Bobby’s lemonade stand advertises his lemonade is the verybest. This statement is believed. Will the demand for his lemonade increase ordecrease?It is Saturday and most of the young people receive their weekly allowance onthis day. Will the demand for lemonade increase or decrease?A recent news article states that lemon juice is good for your skin and yourteeth. Will the demand for lemonade increase or decrease?Demand – The amount of a good or service that consumers are willing and able to buy.A terrible drought caused over half of the country’s lemon trees to die. Will thesupply of lemonade increase or decrease?The local government has passed a new law requiring all street vendors,including lemonade stands, to purchase an expensive business license. Willthe supply of lemonade increase or decrease?Sugar is on sale at the local grocery store. Will the supply of lemonade increaseor decrease?The local health department has sent out an advisory telling the citizens not todrink tap water without boiling it. Will the supply of lemonade increase ordecrease?Lemonade stands how have new electric juicers that take half of the time thatit takes to hand squeeze. Will the supply of lemonade increase or decrease?Will the Demand Increase or Decrease?Supply – The amount of a good or service that producers are willing and able to sell.

The weather forecast predicts that this will one of the hottest days of the year.Will the demand for lemonade increase or decrease?A flashy sign on Bobby’s lemonade stand advertises his lemonade is the verybest. This statement is believed. Will the demand for his lemonade increaseor decrease?A flashy sign on Bobby’s lemonade stand advertises his lemonade is the verybest. This statement is believed. Will the demand for his lemonade increase ordecrease?It is Saturday and most of the young people receive their weekly allowance onthis day. Will the demand for lemonade increase or decrease?A recent news article states that lemon juice is good for your skin and yourteeth. Will the demand for lemonade increase or decrease?A terrible drought caused over half of the country’s lemon trees to die. Will thesupply of lemonade increase or decrease?The local government has passed a new law requiring all street vendors,including lemonade stands, to purchase an expensive business license. Willthe supply of lemonade increase or decrease?Sugar is on sale at the local grocery store. Will the supply of lemonade increaseor decrease?The local health department has sent out an advisory telling the citizens not todrink tap water without boiling it. Will the supply of lemonade increase ordecrease?Lemonade stands how have new electric juicers that take half of the time thatit takes to hand squeeze. Will the supply of lemonade increase or decrease?Will the Demand Increase or Decrease?Supply – The amount of a good or service that producers are willing and able to sell.Lesson Plan By:Lynne Stover stoverlf@jmu.edu & Lauren Shifflett shiffllh@jmu.edu Reading Makes Cents 2023-2024It Began with Lemonade Changes in Supply and Demand Answer Sheet- Supply and Demand for LemonadeWill the Demand Increase or Decrease?Demand – The amount of a good or service that consumers are willing and able to buy.