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, Worksheets & Printables
From the author
About this resource
Connect an introduction to supply and demand with a two-week observation of a local gasoline price. Students follow one fuel type, record its price daily, and consider relevant news when explaining changes. Keep the same observation choice throughout so the recorded values can be compared meaningfully.
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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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