Alabama Social Studies SS24.E.4b
The Standard
- SS24.E.4
- Draw conclusions about how supply, demand, and price interact in a market economy.
Apply the law of supply and demand to everyday consumer and business decisions.
2024 Alabama Course of Study: Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students predict how changes in supply or demand affect prices and sales. They use those predictions to make choices as shoppers and business owners.
What Mastery Looks Like
- Given a smaller orange crop, a student predicts higher prices and fewer oranges sold. They explain why a shopper might buy apples instead and why a juice seller might order less orange juice.
Common Misconceptions
- Students may think a shortage always means demand rose, even when supply fell. They may also think a store can raise prices without losing any buyers.
How to Assess It
- Exit ticket: A frost cuts the orange crop while demand stays steady. What happens to orange prices, and what might a shopper and a juice seller each do?
Lesson moves
Ways to Teach It
Give pairs 12 paper concert tickets and buyer cards with maximum prices; remove six tickets for a second round and compare sale prices.
Ask: If a sneaker sells out at $80, should the store order more pairs or raise the price next month? Explain.
Sort scenario cards, such as a coffee bean shortage, into supply or demand changes, then predict which way prices move.
Compare strawberry prices in two grocery flyers, then write how a shopper might respond to the price difference.
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Printable SS24.E.4b Worksheet
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Related Standards
- SS24.E.4
Draw conclusions about how supply, demand, and price interact in a market economy.
- SS24.E.4d
Illustrate and explain how supply and demand determine equilibrium price and quantity and how price movements eliminate shortages and surpluses.
- SS24.E.2a
Analyze how changes in opportunity costs impact the rational decision-making of individuals, businesses, and governments.
- SS24.E.8a
Analyze how spending and production decisions made by households, businesses, and government determine overall levels of income, employment, and prices.
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