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Overview
Grade 4
Economics and Financial Literacy
Economic Principles
17. Market Forces
17.2 Price Determination
Master Price Determination and Market Forces
You'll discover how supply, demand, and competition work together to set the prices you pay every day.
What You'll Learn
You learn how supply and demand determine marketplace prices
Competition between businesses affects the prices you pay daily
Market forces connect buyers and sellers in economic exchanges
Understanding pricing helps you make smarter purchasing decisions
What You'll Practice
1
You practice identifying factors that influence price changes
2
You analyze how supply and demand affect pricing decisions
3
You explore connections between competition and consumer prices
Why This Matters
You need to understand price determination to make smart purchasing decisions and become a wise consumer in our market economy.
This Unit Includes
Learning resources
Skills
Price Determination
Market Forces
Supply Demand
Competition
Consumer Skills
GA Curriculum Aligned