Alabama Social Studies SS24.E.4c
The Standard
- SS24.E.4
- Draw conclusions about how supply, demand, and price interact in a market economy.
Explain how prices serve as incentives in a market economy, and how factors other than price cause changes in supply and demand.
2024 Alabama Course of Study: Social Studies
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students explain how prices affect what buyers purchase and what sellers offer. They identify changes in income, tastes, weather, or production costs that shift demand or supply without a change in the product's price.
What Mastery Looks Like
- Given a market story, a student can name which curve shifts, which way it shifts, and why. They can tell a response to a higher price apart from a shift caused by a drought or a change in tastes.
Common Misconceptions
- Students often say a higher price shifts demand or supply, rather than changing the quantity bought or sold. They may say a drought lowers demand when it actually cuts supply.
How to Assess It
- Exit ticket: A drought damages orange crops, while a popular recipe makes more people want oranges. For each event, name the curve that shifts and its direction, then explain how a higher orange price affects buyers and growers.
Lesson moves
Ways to Teach It
Give pairs buyer budgets, seller cost cards, and price tags; have them trade paper apples at $2 and $5, then tally trades.
Ask students to write why a higher concert ticket price changes buyers' plans, while a singer's sudden popularity can shift demand.
Play shift or slide with an orange market graph and cards for drought, higher picking wages, higher orange prices, and a popular orange recipe.
Compare egg prices in two grocery ads; write how shoppers might respond and how bird flu could change egg supply.
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Printable SS24.E.4c 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.4b
Apply the law of supply and demand to everyday consumer and business decisions.
- SS24.2.5
Explain how scarcity influences supply and demand.
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