Supply and Demand

In support of state and national social studies standards, this book provides an overview of the basic economic concepts of supply and demand. | From sold-out concert tickets to piles of unsold winter coats, supply and demand affect the prices people pay every day. This book introduces readers to the relationship between how much of a good or service is available and how much people want it. Clear, accessible text explains how supply is created by producers, how demand is driven by consumers, and how changes in either can cause prices to rise or fall. Readers will discover how scarcity, competition, and consumer choices shape the marketplace around them. With engaging examples and clear, straightforward language, this book supports state and national standards to make a key economic concept easy to understand for learners in grades 3–5.