Civics Today Citizenship, Economics, & You

Chapter 21: Demand and Supply

Student Web Activity

"Demand for Products"

In this chapter you have read about the economic concept of demand. Demand refers to the desire, willingness, and ability to buy a good or service. For some goods demand is high at particular times of the year. Businesses try to anticipate demand and produce the goods that consumers want. Sometimes they are unsuccessful. In this activity you will take a closer look at what happens when demand spirals out of control.

Destination Title: The Financial Pipeline

Note: Clicking on the clink above will launch a new browser window.
Need help using your browser for this activity? Click here for tips.

Start at the Financial Pipeline’s home page.

  • Scroll down and click on Investor’s Corner.
  • Scroll down to “1996 Articles.”
  • Click on What Does the “Tickle Me Elmo” Craze Tell Us About Economics and the Economy?
  • Read the Financial Pipeline’s analysis of the “Tickle Me Elmo” craze.

After you have read through this article answer the questions below.

What event helped increase demand for Tickle Me Elmo?
Why didn’t suppliers already have a large supply of Tickle Me Elmo on hand?
What happened when there was a shortage of Tickle Me Elmos?
Once the public realized that there was a shortage of Tickle Me Elmos, what other things increased the demand even more?
Can you think of another product, for which demand increased as it did for the Tickle Me Elmo? Create an poster advertisement that would increase demand for a popular product.
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