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Video starter for a lesson on the law of supply

Jim Riley

27th September 2009

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Soon it will be time again to introduce the supply and demand diagram to your Year 10 students. I’ve always noticed pupils find the law of demand (as the price of a good or service increases, demand falls), much easier than law of supply (as the price of a good or service increases, supply will increase). This video from the BBC shows that oil producers have less incentive to extract new reserves when the price of oil is lower. It would be a great starter for the first lesson on supply.

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Jim Riley

Jim co-founded tutor2u alongside his twin brother Geoff! Jim is a well-known Business writer and presenter as well as being one of the UK's leading educational technology entrepreneurs.

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