Marketplace: Iraq's Supply and Demand

STUDENT'S VERSION

This lesson printed from:
http://www.econedlink.org/lessons/index.php?lid=865&type=student

INTRODUCTION

Help Wanted When the demand for goods and services is greater than the supply, the choices of governments, private companies, and individuals are affected. In this lesson, you will learn how the high demand for and low supply of workers in Iraq is affecting the hiring process and the people of Iraq.

TASK

In this lesson, you will listen to an audio file about supply and demand in Iraq. While listening, you will use an interactive note-taker to record supporting details about three of the story's main ideas. Then, using your notes, you will answer questions related to the story.

PROCESS

Activity 1

Listen to the Marketplace audio file about Iraq's Supply and Demand.
While listening, use the note-taker to find supporting details for three main ideas. The three main ideas you will focus on today are these:

1. Demand for Civilian Workers in Iraq
2. Obstacles to Hiring Qualified Workers
3. Failure to Meet the High Demands of Iraqi Society

Additionally, as you listen to the segment, record any words which you don't know or which you think are important economic terms.

Then listen to the audio file again to gather additional supporting details and possible definitions of the vocabulary words using context clues; record these in your note-taker.

Finally, you will be asked a series of questions related to the story. If you wish to do so, you may listen to the clip again to make sure that you have a good grasp of the information and ideas in question.

Activity 2


Work with a partner to discuss the following questions and record your ideas.

The news story you just heard highlighted some main causes and effects of the high demand for and low supply of foreign workers in Iraq. If you were a contractor in Iraq looking for workers, what are some obstacles you would face and how would you attract workers? Consider the following:Iraq Map

-What are some obstacles not mentioned in the news clip that you might face when trying to attract workers?

-How would you prioritize the work that needs to be completed (i.e., what work needs to be completed first)?

-If the supply of workers remains low and the demand continues to rise, what will most likely happen to workers' salaries?

-What could you do to attract workers to Iraq?

-Would you consider hiring Iraqi civilians?

-Are you more concerned with the quality of the workers or with the workers' ability to pass the security clearance process?

CONCLUSION

By the conclusion of this lesson, you should be able to identify at least three causes for the high demand for workers in Iraq and three main causes for the low supply of workers in Iraq.

You should be able to identify ways in which the laws of supply and demand affect society.

ASSESSMENT ACTIVITY

Notebook1. Hand in your note-taker. Your work should reflect an understanding of the laws of supply and demand and the effect they have had on Iraq in 2004.

2. Discuss Activity 2 with your partner and turn in your recorded ideas. Your discussions and work should focus on how the laws of supply and demand affect decision-making.

EXTENSION ACTIVITY

Learn more about supply and demand by completing, What Do People Want to Wear? and Economics in the Headlines.