Exploring price changes
Students review scenarios involving an imaginary toy store to explore how supply and demand affect prices that people pay.
Prices are determined by supply and demand.
- What factors influence the price of an item?
- How might supply and demand affect my buying choices?
- 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.