Good morning boys and girls... My name is Professor Coppertop and today's lesson is on SUPPLY AND DEMAND.
It would seem some of you have forgotten the basic principle of SUPPLY AND DEMAND so here it is again in a SIMPLE EASY-TO-UNDERSTAND fun video. Be sure to watch it carefully as there will be questions afterwards!
Now that you have watched the video and know everything about SUPPLY AND DEMAND let's test it with an example of 5 toffee apples: - There are 20 children here today. Here are 5 toffee apples... would you all like one?
- Children shout out: "YES".
- "Well class, what does that mean with the SUPPLY AND DEMAND of toffee apples here today?"
- Annoying know-it-all child puts hands up: "DEMAND exceeds SUPPLY and some will miss out."
- "That's right annoying know-it-all child."
- "Now here are another 15 apples... so everyone will get one..."
Children scream out excited: "YEAH!"
-"WRONG... because a mean old man called Mr Escrow will hide these extra 15 apples for 2 years so NO-ONE-WILL-GET-THEM.
- "Well class, what does that mean with the SUPPLY AND DEMAND of toffee apples here today?"
- Annoying know-it-all child puts hands up... again: "DEMAND exceeds SUPPLY and some will miss out."
- "That's right. Class dismissed and toffee apples for everyone!"
- "Yeaaahhh!"
NOTE - author acknowledges too much time on his hands this morning.
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