Shortage, Surplus, and Prices

Explore how businesses change their prices based on surpluses and shortages with this helpful economics worksheet! Surpluses and shortages usually happen when sellers charge too much or too little. In this social studies worksheets for middle grades, students will read an explanation of shortage, surplus, and equilibrium price, as well as how businesses adjust prices to get to the equilibrium price. Then, to put their learning into practice, students will read five real-world scenarios and predict if a business would likely raise prices, lower prices, or keep prices the same in each situation. For an introductory worksheet, have students complete this Shortage and Surplus worksheet first!