Supply and Demand

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Objective

I can explain the difference between supply and demand.

Part 1 of 4

Warm-up video

Miacademy & MiaPrep Learning Channel · 4:29Vetted channel

We don't generate video — this one is by Miacademy & MiaPrep Learning Channel on YouTube. The practice questions and exit ticket below were drafted by AI for this objective, and every question is editable in the teacher guide.

Part 2 of 4

Key concepts

3 concepts

  1. 1

    Supply means how many of something is available, and demand means how many people want that thing.

  2. 2

    When something is in high demand, the price can go up, but when there's a high supply, the price might go down.

  3. 3

    The best time to buy a coat is in the summer because not many people want them then.

Part 3 of 4

Practice

3 questions

1

What does 'supply' mean in the story?

2

Imagine there are only a few new toy cars in the store, but many kids want to buy them. What will likely happen to the price of the toy cars?

Part 4 of 4

Exit ticket

Quick comprehension check

Imagine there are only a few cookies at the store (small supply), and many kids want cookies (big demand). Will the cookies cost more or less money?

Sample answer included in the free materials

Get the materials

Teacher guide, student handout, and slides — free, in Google Docs format

  • Teacher Guide

    Complete lesson plan with answer keys and alternate activities

  • Student Handout

    Printable worksheet

  • Slides

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