Standards for Demand Shifters

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National Standards in Economics

Name: Markets and Prices

Standard: 7

  • Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
  • Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.

Name: Role of Prices

Standard: 8

  • Students will understand that: Prices send signals and provide incentives to buyers and sellers. When supply or demand changes, market prices adjust, affecting incentives.
  • Students will be able to use this knowledge to: Predict how changes in factors such as consumers' tastes or producers' technology affect prices.

State Standards

Common Core State Standards

Name: Anchor Standards for Reading

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Name: Anchor Standards for Speaking and Listening

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Name: K-8 Measurement & Data

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Name: K-8 Operations & Algebraic Thinking

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Name: K-8 Ratios & Proportional Relationships

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