Students review scenarios involving an imaginary toy store to explore how supply and demand affect prices that people pay.
Topic
Spend (Buying things)
Subject
English or language arts, Math
Grade Level
Elementary school (4-5), Middle school (6-8)
Duration
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.
