At the 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. In a grizzly sequence, the cow is dismembered. 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.
Ask students to take notes on what business principles they see in action here, e.g supply and demand, negotiation, creative use of resources, and any others. Students could be asked to think about other markets, such as virtual or online ones. Then they could look into the different factors that lead a market to be physical or virtual, and what the effects may be. Are there principles in action here that could be used in a virtual or online market?