Students review scenarios involving an imaginary toy store to explore how supply and demand affect prices that people pay.
Spend (Buying things)
English or language arts, Math
Elementary school (4-5), Middle school (6-8)
45-60 minutes
Big idea
Prices are determined by supply and demand.
Essential questions
- What factors influence the price of an item?
- How might supply and demand affect my buying choices?
Objectives
- Learn how supply and demand affect the price of goods and services
- Analyze scenarios for an imaginary toy store to determine how prices may change based on supply and demand
What students will do
- Review scenarios about supply and demand at an imaginary toy store.
- Based on the scenarios, determine what the store owner is likely to do with the toy prices and why.
Download activity
Teacher guide
cfpb_building_block_activities_exploring-price-changes_guide.pdf
Student materials
cfpb_building_block_activities_exploring-price-changes_worksheet.pdf
Note: Please remember to consider your students’ accommodations and special needs to ensure that all students are able to participate in a meaningful way.