Supply & Demand Worksheet

Supply & Demand Worksheet

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How to teach Goods and Services

Using Supply & Demand Worksheet, students choose a local gas station’s prices to watch and observe changes in prices.

Market price is determined by the supply and demand of goods. When the supply is high, the price may be low. When the supply is lessened and the demand increases, so may the price.

Over the next two weeks, choose a local gas station’s prices to watch. Try to check the prices daily as you travel to school. Record the price changes (for only one type of gas; regular, premium, etc) and observe any increases or decreases. Keep an eye on the newspaper for news about oil and gas supply and demand.

 

Other resources to use with this Supply & Demand Worksheet

If you are using this worksheet, your students are probably learning about economics.

Use this Barter System Worksheet as an additional resource for your students.

Introduce this worksheet by asking your students how they could get different goods or services that they might like or need. Then, give examples of poor trading options like one lemon for 20 limes. That's not fair! Finally, have students complete the worksheet independently or with a partner.

Be sure to check out more Economics Worksheets.

 

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