Loom Bands - A demand and supply example (and activity)

If, like me, you spent much of the spring and summer of this year being 'gently persuaded' to purchase loom bands and their paraphernalia, you may find this short presentation and task on demand and supply of the product useful.For many weeks, it seemed almost impossible to undertake a shopping trip with my youngest son without him pointing out the huge selection of available bands and their construction tools. He built up quite a selection or different colours and styles as my vacuum cleaner can happily testify. Then I noticed a tailing off of his requests and noted that this week, when I pointed out a shop selling the rubber bands at half price, he declared that he was no longer interested - even at the reduced rate compared to just 4 weeks ago. He seemed less than impressed when I pointed out how this was a fine example of how demand and supply impacts upon price. However, many of you may be at the stage where you are going through demand, supply and equilibrium with your AS students.

This resource is very short. It starts by setting students the task of drawing the demand and supply of loom bands over 3 stages; the initial rise in their fashion, the change in production techniques to reflect increased supply and then the inevitable fall in loom band attraction. Give your students 5 minutes to draw all 3 and then use the rest of the presentation to run through the answers.

Click here to download the resource 'Demand and Supply of Loom Bands