Indiana Social Studies E.2.2
The Standard
Provide examples of how consumers ultimately determine what is produced in a market economy.
2026 Indiana Academic Standards: K-12 Social Studies · Students explain that because resources are limited, people must make choices, understanding the role that supply, demand, prices, and profits play in a market economy. Key elements of the course include study of scarcity and economic reasoning, supply and demand, market structures, the role of government, national economic performance, the role of financial institutions, economic stabilization, and trade.
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students use buying choices to explain why businesses make more of some products and less of others. They connect sales to a seller’s next production decision.
What Mastery Looks Like
- Given sales figures for two products, a student can predict which one a business will make more of and explain why. They can also explain why strong sales may not lead to more production if the product costs too much to make.
Common Misconceptions
- Students may think shoppers tell businesses what to make directly, rather than showing what they want through purchases. They may also assume a product that sells well always makes a profit.
How to Assess It
- Exit ticket: A shop stocked 100 bottles and 100 mugs at the same price. It sold 70 bottles and 15 mugs. Which should it order more of next week, and why?
Lesson moves
Ways to Teach It
Set up a mock snack stand with paper tokens and item cards; students buy one item, then sellers tally purchases and reset inventory.
Ask students to write: Why might a cafeteria stop making a sandwich that its chef likes but few students buy?
Give pairs sales slips for hats and gloves; have them choose next week’s stock and defend their choice using the slips.
Show a cafeteria tally of 80 pizza slices and 20 salads sold, then ask what the kitchen should prepare tomorrow.
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Printable E.2.2 Worksheet
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Related Standards
- E.4.1
Explain how markets underproduce public goods, and analyze the role of government to resolve those market failures.
- 3.E.7
Illustrate how people compare benefits and costs when making choices and decisions as consumers and producers.
- 6.E.4
Describe how different economic systems (traditional, command, market, and mixed) in Europe and the Americas answer the basic economic questions on what to prod...
- E.2.3
Provide examples of how supply and demand determine equilibrium price and quantity.
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