Students explore the most fundamental idea in economics — how the interaction of supply and demand sets prices and quantities in a market — and how a change in either shifts the equilibrium.
Students will be able to…
No one sets the price of a cup of coffee by decree — yet prices settle at a predictable point. What invisible force balances what buyers want with what sellers offer?
Project this and change the level of demand. Watch the equilibrium price and quantity move as the demand curve shifts.
Tap any phase to open the teacher moves and student actions.
No one decrees the price of coffee — so how does it settle?
Students investigate.
Students analyze.
Students conclude.
Students take action.
Aligned to the C3 Framework for Social Studies (Grades 9–12) and Common Core literacy in history/social studies.
Analyze the ways in which incentives influence what is produced and distributed in a market.
Describe the roles of institutions such as property rights in a market economy.
Describe the consequences of competition in specific markets.
Integrate quantitative information from a graph with text.
Preview the three formative checks. Tap “Sample answer” to see what mastery looks like — hide them before you print for students.
Have students use the model to explain what happens when a price is set above or below equilibrium, creating a surplus or a shortage. A printable supply-and-demand sheet is in the Social Studies library.
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A quick self-check with instant feedback, drawn from this lesson’s key terms.
A print-and-go review sheet with a built-in answer key. Tap “Show answer key” to reveal answers, or print the clean version for students.