Grade 3 ยท Social Studies Video Lesson
Explain how supply and demand affect the price of a good or service Video Lesson
Curriculum-aligned Grade 3 Social Studies lesson video for Explain how supply and demand affect the price of a good or service. Use it for classroom preview, instruction support, or home review.
About This Video
Curriculum-aligned Grade 3 Social Studies lesson video for Explain how supply and demand affect the price of a good or service. Use it for classroom preview, instruction support, or home review.
This watch page is dedicated to the video. For the complete text lesson plan, activities, standards alignment, and answer guides, use the companion lesson page: Explain how supply and demand affect the price of a good or service lesson plan.
Video Learning Notes
Students learned that supply is how much of a good or service is available and demand is how much people want it. When demand is high and supply is low, prices go up; when supply is high and demand is low, prices go down. Scarcity means there is not enough of something for everyone, which influences prices and choices. Understanding these concepts helps explain how businesses operate in the U.S. free enterprise system.
Learning Goals
- Explain how supply and demand affect the price of a good or service.
- Define scarcity and identify examples of scarcity.
Curriculum Context
Grade: Grade 3
Subject: Social Studies
Curriculum: TEKS