Supply and Demand

Figure caption.

• Link to Demo

Prompt

Create a single file p5.js sketch that replicates the function of this image.

Lesson Plan

This is a lesson plan for 10th-grade students in a microeconomics class. The lesson plan will include objectives, materials, procedure, and assessment for a lab activity using the p5.js sketch.

• Course: Microeconomics
• Grade Level: 10th Grade
• Duration: 45 minutes

Objectives

• Students will understand the concept of the demand curve.
• Students will learn how changes in price affect the quantity demanded.
• Students will interact with a p5.js sketch to observe these economic principles visually.

Materials

• Computers with internet access and a web browser.
• Projector to demonstrate the p5.js lab.
• Copies of the demand curve lab worksheet.

Introduction (5 minutes)

• Begin the lesson with a brief review of supply and demand.
• Introduce the demand curve as a visual representation of the relationship between price and quantity demanded.

Instruction (10 minutes)

• Explain how the demand curve is typically downward sloping.
• Describe how to read the demand curve.
• Demonstrate the interactive p5.js lab on the projector.

Activity Procedure (20 minutes)

• Students will access the p5.js sketch on their computers.
• They will manipulate the price slider and observe changes in quantity demanded.
• Students will complete the lab worksheet with questions related to their observations.

Discussion (5 minutes)

• Regroup and discuss the findings as a class.
• Highlight the key economic principles demonstrated by the lab.

Assessment (5 minutes)

• Review the lab worksheet answers as a class.
• Provide feedback on their understanding and clear up any misconceptions.

Extensions

• Students can explore how factors other than price affect the demand curve.
• For homework, students could be asked to draw their own demand curves based on different scenarios.

Closure

• Summarize the day's lesson and discuss how the demand curve relates to real-world economics.

Sample Code

The code has several parts:

1. Global Variables - allocate memory and set default layout values
2. setup() - runs only once
3. draw() - continually runs as users change the slider

let width = 400;
let height = 400;
let margin = 50; // side around the plot
let priceSlider;
let demandCurve;
let maxPrice = 200;
let maxQuantity = 200;
let price = 100;
let quantity = 100;
let labelValueMargin = 140

function setup() {
  const canvas = createCanvas(width, height);
  canvas.parent('canvas-container');
  textSize(16);

  // Create a slider element for price adjustment
  priceSlider = createSlider(0, maxPrice, price);
  priceSlider.position(labelValueMargin, height - 35);
  priceSlider.style('width', width - labelValueMargin - 20 + 'px');

  // Define the demand curve as a function
  demandCurve = (p) => maxQuantity - p;
}

function draw() {
  background(240);

  // Update quantity based on the current value of the price slider
  price = priceSlider.value();
  quantity = demandCurve(price);

  // Draw the axes
  stroke(0);
  strokeWeight(1);
  line(margin, margin, margin, height - margin); // Vertical Y-axis
  // Horizontal X axis
  line(margin, height - margin, width - margin, height - margin);
  strokeWeight(0);
  text('Price', 30, 40); // Y-axis label
  text('Quantity Sold', width - margin - 70, height - margin - 10); // X-axis label

  // Draw the demand curve
  stroke(255, 0, 0);
  strokeWeight(3);
  line(margin, margin, width - margin, height - margin);

  // Draw a point on the demand curve based on current price and quantity
  fill(0, 0, 255);
  noStroke();
  x = map(quantity, 0, maxQuantity, margin, height - margin)
  y = map(price, 0, maxPrice, width - margin, margin)
  circle(x,y,10);

  stroke('silver');
  line(margin, y, x, y)
  line(x, y, x, height - margin)

  fill(0);
  noStroke();
  circle(
    margin, 
    map(price, 0, maxPrice, width - margin, margin), 10);

  circle(
    map(quantity, 0, maxQuantity, margin, height - margin), 
    height - margin, 10);

  // Text annotations
  noStroke();
  fill(0);
  textSize(16);
  text("Price and Demand Curve", 120, 30);
  text(`Input Price: ${price}`, 10, height - 20);

  text(`Output: Quantity = ${quantity}`, 70, 490);
  textSize(12);

  // instructions
  let keyMargin = 180;
  text(`Adjust price by moving the slider.`,     keyMargin, margin);
  text(`Note that as the input (price) changes`, keyMargin, margin + 20);
  text(`    the quantity sold also changes.`,    keyMargin, margin + 40);
  text(`At high prices a low quantity is sold.`, keyMargin, margin + 60);
  text(`At low prices a high quantity is sold.`, keyMargin, margin + 80);
}