lesson
Understanding Consumer Demand
Define demand as the desire, ability, and willingness of consumers to purchase a good or service at various prices.
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Supply, Demand, and Market Equilibrium
4th Grade · Social-studies · US-WI-SS
9 lessons
Goal
Learn how consumer demand and producer supply interact to establish equilibrium prices, and explore what happens during shortages and surpluses.
9 lessons
0 of 9 done
- Understanding Consumer DemandYou are here
- 2How Price Changes Affect Consumer DemandPremiumUp next
- 3Understanding Producer SupplyNot started yet
- 4How Price Changes Affect Producer SupplyNot started yet
- 5The Market Meeting Point: Finding Equilibrium PriceNot started yet
- 6What Causes a Shortage? When Demand Exceeds SupplyNot started yet
- 7How Prices Adjust During a ShortageNot started yet
- 8What Causes a Surplus? When Supply Exceeds DemandNot started yet
- 9How Prices Adjust During a SurplusNot started yet
Learning standards covered
SS.Econ2Wisconsin Social Studies Standards · 4th GradeWisconsin students will analyze how decisions are made and interactions occur among individuals, households, and firms or businesses (Microeconomics).
Econ2.bWisconsin Social Studies Standards · 4th GradeSupply, demand, and competition
SS.Econ2.b.4-5Wisconsin Social Studies Standards · 4th GradeAssess the roles of consumers (demand), producers (supply), prices, non-price factors (e.g., drought or a fad item), and competition in the product market.