At a cattle market in Lagos, Nigeria, we see market trading (supply and demand) in relation to a commodity. The Lagos cattle market shows a market price being established by negotiation and shows how entrepreneurs build a business on unlikely parts of the cow. One entrepreneur has built a business on the cow’s blood. What he once used to wash away, he now boils and turns into fertiliser.
This clip could be used to introduce a physical market, but students could be asked to think about other markets, such as virtual or online ones. Then they should look into the different factors that lead a market to be physical or virtual, and what the effects may be.