Assessment, E-book, Game, Graphic Organizer/Worksheet, Lesson Plan


In this lesson students learn about demand and factors that cause demand for a good or service to change. They also learn to recognize factors that influence their behavior as a consumers.


  • Social Studies > General
  • Social Studies > Economics

Education Levels:

  • Grade 6
  • Grade 7
  • Grade 8


lesson socialstudies economics



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Public - Available to anyone

License Deed:

Creative Commons Attribution Non-Commercial
Update Standards?

SOC.7.4.A.a.1: Social Studies


SOC.7.4.A.a.2: Social Studies


SOC.7.4.A.a.3: Social Studies

Gross Domestic Product (GDP)

SOC.7.4.A.a.4: Social Studies


SOC.7.4.A.a.5: Social Studies

profit and profit motive

SOC.5-8.I.D.1: Social Studies

How does the economic problem of scarcity affect people and governments?

SOC.5-8.I.D.2: Social Studies

How do traditional, market, command, and mixed economic systems answer basic economic questions: What shall be produced? How? For whom?

SOC.5-8.I.D.3: Social Studies

How are public goods different from private goods? Why do political entities produce public goods?

SOC.5-8.I.D.4: Social Studies

What services are produced by governments at local, state, or national levels? Are all of those services public goods?

SOC.5-8.I.D.5: Social Studies

How do political entities use taxes, user fees, and government bonds to obtain the resources they need to produce services?

SOC.5-8.I.D.6: Social Studies

Why and how do governments impose regulations on businesses?

SOC.5-8.I.D.7: Social Studies

How do decisions of governments affect the economic options of households, businesses, and local communities and give rise to economic issues? How should such issues be resolved?

SOC.5-8.III.D.1: Social Studies

How do economists define demand? What factors may cause changes in the demand for a good or service? What consequences follow from changes in demand?

SOC.5-8.III.D.2: Social Studies

How do economists define supply? What factors may cause changes in the supply of a good or service? What consequences follow from changes in supply?

SOC.5-8.III.D.3: Social Studies

How do forces of supply and demand interact to determine price in market economies?

SOC.5-8.III.D.4: Social Studies

How does relative price, the price of one good or service compared to those of other goods and services, influence the behavior of consumers and producers?

SOC.5-8.III.D.5: Social Studies

What consequences result when a family or business makes a major economic decision or has a pattern of economic decisions pertaining to the use of its income, i.e., whether to use that income for consumption, saving, or investment?

SOC.5-8.III.D.6: Social Studies

How do changes in interest rates affect savings, investments, and the demand for goods and services?

SOC.5-8.III.D.7: Social Studies

What consequences result from the economic decisions of local governments?

SOC.5-8.III.D.8: Social Studies

How do economic and political events and developments affect one another?

SOC.5-8.III.D.9: Social Studies

How do events and developments in other regions and countries have economic effects on citizens of Missouri and the United States?
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