Grade 4 · Social Studies · Lesson 26

Supply, Demand, and Trade

Two of the most important ideas in economics are supply and demand. Together, they explain why prices rise and fall, why some products are easy to find and others are not, and why people and countries trade with each other.

What this lesson teaches

1Define supply and demand and explain how they work
2Explain how supply and demand affect the price of goods and services
3Classify real-world scenarios as supply factors or demand factors
4Define trade and describe how it connects people and countries

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