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Welcome! Today we will explore how supply and demand shape prices, and how to organize your thoughts into a clear short report.
Supply is the amount of a product available, while demand is how much people want to buy it. When demand is high and supply is low, prices usually rise. When supply is high and demand is low, prices usually drop.
To explain economic ideas clearly, you must first plan your draft by selecting a genre, topic, purpose, and audience. For example, you might write an informative article for classmates to explain why sneaker prices rise.
Next, you develop your draft into a focused and coherent piece of writing. Group your facts logically with a strong introduction, evidence-based body paragraphs, and a clear concluding summary.
Plan and structure a short informational draft explaining why ticket prices for a concert increase when supply is limited.
- Select genre, topic, purpose, and audience: Write an informational summary for high school students explaining ticket prices.
- Draft the introduction: State clearly that high demand and low supply raise prices.
- Develop the body section: Present concrete evidence showing how limited seat supply forces eager buyers to pay more.
- Draft a coherent conclusion: Restate how supply and demand balance out to set final market prices.
