How Does Demand Affect Prices?

Investigate one of the reasons for price changes in this practical economic worksheet! Students will first learn the reason that demand affects price: if demand for something is high, more people are likely willing to pay more money for it, but if demand is low, people may not be willing to pay as much. Students will read six stories, then decide what will happen to the demand for the relevant product and how that will likely affect the product’s price. 

This worksheet is intended for fourth and fifth graders learning about supply and demand in economics. A strong grasp on this concept is necessary for students to understand rising and falling prices in a free-market economy. Students can use this knowledge to make smarter purchasing decisions and make sense of the economy they live in. 

Check out the paired worksheet here: How Does Supply Affect Prices? Also try these economics worksheets: What is Scarcity? and Identify Natural, Human, and Capital Resources.