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The Prices Are Changing
Source: Council for Economic Education (EconEdLink) | Type: Lesson

This lesson will help students to understand how markets are created by the interaction of buyers and sellers, what demand and supply are, what equilibrium price is, and how demand and supply interact with price changes.

Grades:

• 6-8

Concepts:

• Demand
• Equilibrium Price
• Markets
• Supply

Standards:

• Economics 7: Markets - Price and Quantity Determination
• Economics 8: Role of Price in Market System

Related Resources:

• Lemon Squeeze - The Lemonade Stand
• Marketplace: Oil Is a Slippery Business
• The Price of Gasoline: What's Behind It?

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