Problem Overview

Problem

Problem Title: Supply and Demand Course: Algebra 1 Author(s): Kim Dawson

Supply and demand is the most basic principal of economics. Economists need to look closely look at the relationship between the demand of goods to help decide how much supply to create. The same is true for corn production in the US. With more advance technology, farmers are able to produce more corn. At the same time, industries are finding more and more uses for corn. The table below shows corn production in the US in 2004/2005 and 2010/2011. Year Supply (in millions of bushels) 2004/200 5 20010/20 11 11,806 13,370 Demand (in millions of bushels) 10,661 13,300

Assume that the rate of change for each year is constant. Will the demand for corn ever surpass the supply? If so, when would this happen?

Standards/Big Ideas Addressed

Systems of Linear Equations: Students solve systems of linear equations graphically and algebraically and solve systems of linear inequalities graphically a) Use graph to estimate the solution of a pair of linear equations or inequalities in two variables b) Understand and use the substitution method c) Understand and use the elimination method

Likely units/big ideas that came before this problem

Most likely done after students have written and graphed linear equations in slopeintercept, point-slope and standard forms. Students should know: How to graph a line How to write equations

Likely units/big ideas that come after this problem

Systems of linear inequalities

Assumptions about Student Prior Knowledge

Phase Roll out (k/ntk/next steps)

Facilitation Notes Anticipated Student Action Notes/tips including time for phase
Knows: The rate of change is constant for supply and demand The supply of corn is increasing The demand of corn is increasing Need to knows What is supply? What is demand? How much is a bushel of corn? Next Steps: Determine rate of change for supply Determine rate of change for demand Write equations Make x-y tables Graph Find solution Solve system of equations using: o Substitution o Elimination Total time about 25 minutes. Have students create k/ntk list in groups. Share out as a class. Brainstorm next steps in their groups. Share out next steps as a class. Have groups decide which step they are going to do first.

Assessment

Student work time Sharing out

Students will most likely either begin by finding the rate of change or creating an x-y table for each. Groups will share out what they have tried so far. Students should be listening and asking questions as groups are presenting.

Students could be grouped in pairs. Have each group share out what their first step was, how it is going and what they are going to do next. Allow students the opportunity to ask one another questions to clarify their process. It would be a good idea to walk around at this point and

Work time*

Students will take ideas that they heard from other groups and continue to try to find the out

when the supply will surpass the demand.

Direct instruction * (this can occur at different times, as long as students work on the problem first)

Students should take notes and learn how to estimate the solution to a system of equations by graphing. If time, it would be a nice place to show them how to find an exact solution by substitution and/or elimination.

make sure that all the students in the group are on the same page and communicating with one another. Groups might have a difficult time determining the year as it is not an integer. Encourage them to try to determine how to represent it. Student might also have a hard time with their x-axis since it will not start at zero. They could label it years since 2004/2005. Students could be graded in content literacy, oral communication and professionalism (work ethic).

Final Action on Problem

Groups share out the way in which the approached the problem and their findings.

Follow Up Extension Practice Problems Solution to Problem (just cut/paste below this bar) Potential Solution 1: Students could solve graphically x = the number of years since 2004/2005 y = bushels of corn (in millions) Rate of Change Supply Demand
m= 13 ,370 11,806 1564 = 260 .67 6 0 6

m=

13,300 10 ,661 2639 = 439 .83 6 0 6

16000 Corn (in millions of bushels) 14000 12000 10000 8000 6000 4000 2000 0 0 2 4 6 8 10 Years after 2004/2005
Years from 2004/2005 0 6 7 8 9 10 11 12 13 14 15

Supply Demand

Supply 11806 13370 13631 13891 14152 14413 14673 14934 15195 15455 15716

Demand 10661 13300 13739.8 14179.6 14619.5 15059.3 15499.1 15939 16378.8 16818.6 17258.5

Potential Solution 2: Students could solve it using substitution x = the number of years since 2004/2005 y = bushels of corn (in millions)

Rate of Change Supply Demand m=

m=

Equation

y = 260.67x + 11806 13,370 11,806 1564 = 260 .67 6 0 6 Y = 439.83x + 10661 13,300 10 ,661 2639 = 439 .83 6 0 6

y = 260 .67 x +11806 y = 439 .83 x +10661 260 .67 x +11806 = 439 .83 x +10661 260 .67 x +1145 = 439 .83 x 1145 =179 .16 x 6.39 x

The supply and demand would be equal after about 6.39 years.

Possible Solution 3: Students could solve it using elimination x = the number of years since 2004/2005 y = bushels of corn (in millions)

Rate of Change Supply Demand m=

m=

Equation

y = 260.67x + 11806 13,370 11,806 1564 = 260 .67 6 0 6 Y = 439.83x + 10661 13,300 10 ,661 2639 = 439 .83 6 0 6

y = 260.67 x + 11806 ( y = 439.83x + 10661 ) 0 = 179.16x + 1145 1145 = 179.16x 6.39 x