Economic Systems & Markets
📋 What it is
Supply and demand set prices in a market; scarce, wanted things cost more.
🗣️ Coach says
A market is where buyers and sellers meet. Prices rise when lots of people want something scarce (high demand, low supply) and fall when there's plenty. This tug-of-war sets nearly every price you see.
🧠 Memory hook
High demand + low supply → higher price. Lots of supply → lower price. It's a tug-of-war.
😂 Giggle
Why was the savings account so patient?
It knew that interest takes time to compound!
😲 Whoa!
The price of a concert ticket or a new game console swings with supply and demand — sometimes wildly.
✅ Quick check: A toy is in short supply but everyone wants it. What happens to its price?
Say your answer out loud first — then reveal.
It rises — high demand and low supply push the price up.
Scarcity plus strong demand drives prices higher.
🧪 Try it! (2 minutes)
Think of something that got pricey when it was scarce (a popular toy). Explain it with supply and demand.