Indiana Social Studies 3.E.6

Social Studies3rd GradeEconomics

The Standard

Explain that prices are influenced by interactions between buyers and sellers in markets.

2026 Indiana Academic Standards: K-12 Social Studies

Teacher's field guide

What Students Need to Do: Students explain how buyers and sellers affect prices. They use examples to show why a price may change when more buyers want an item or more sellers offer it.
What Mastery Looks Like: A student can explain why a seller may ask for more when many buyers want the last few items. They can also explain why sellers may lower prices when buyers have other places to shop.
Common Misconceptions: Some students think sellers can name any price and buyers must pay it. Others think prices stay the same even when buyers stop purchasing or an item becomes hard to find.
How to Assess It: Exit ticket: A shop has two toy cars and eight buyers. What might the seller do with the price, and why?

Lesson moves

Give six buyers coins to shop at one seller with two paper apples; add three sellers with apples and compare asking prices.
Ask: If eight classmates want the last two pencils at a class shop, what might the seller do with the price?
Give pairs cards showing two apples for eight buyers or ten apples for two buyers; sort each under 'price may rise' or 'price may fall.'
Show two grocery ads for the same cereal and ask which store might lower its price to attract buyers.

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