Supply and Demand: Track a Local Fuel Price
Read about supply and demand, then track the price of one fuel type for fourteen days. Consider relevant news when explaining changes.
- Grades
- Grades 3–5
- Pages
- 1
- File type
- Subject
- Social Studies
- Resource types
- Worksheets
From the author
About this resource
This activity is a great way for students to learn about supply and demand! By choosing a local gas station's prices to watch, they can observe how changes in prices affect the market.
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In the classroom
Teaching tips & learning objectives
Learning objectives
- Distinguish supply from demand
- Record a repeated market price over time
- Describe a possible relationship among availability, demand, and price movement
Teaching tips
- Use the same station and fuel grade throughout so observations remain comparable.
- Separate directly observed price changes from possible explanations found in news reports.
Skills covered
- Economic systems — supply and demand are connected with market price.
- Longitudinal data collection — one price is tracked over multiple days.
- Evidence interpretation — observations and explanatory news are considered separately.
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Resource details
Core concepts
Core concepts
Core concepts
- Supply and demand
- Market price
- Price tracking
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