Worksheet

Makerspace Market: When Buyers and Makers Meet

Analyze a school makerspace sale and a price graph to explain how supply and demand affect shortages, surpluses and prices.

Grade 4Social StudiesInteractive · Printable

Aligned toECO.4.2

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What’s included

Single worksheet
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1 C3 Framework standard
Printable answer key
14 questions
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Details

Format: Interactive · Printable
Grade: Grade 4
Subject: Social Studies
Question types: Fill in the blank, Multiple choice, Matching, Circle the answer, Sorting, Short answer

About this worksheet

What students practice

Students explain how supply and demand can create shortages or surpluses.
Students predict how a change in supply or demand can affect prices.
Students use market data to compare price and quantity demanded.

How to use

Read the passage together, then have students use the sale details and graph as evidence. Discuss why a seller might change a price when the number of buyers or items changes.

Curriculum

C3 Framework standard covered

ECO.4.2

Explain supply and demand and how they affect prices.

Preview

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Name Date

Makerspace Market: When Buyers and Makers Meet

Use evidence to explain how supply and demand can affect prices.

Read about the school sale

Read the passage. Use its details to answer the questions.

Two Places, Two Results

At Juniper Hill School, a student team in the makerspace builds wooden book stands. A book stand holds a book open on a desk. The team buys wood, plans the designs and works together to make the stands. The number of stands ready to sell is the supply. The number of stands shoppers want at a stated price is the demand.

The team first set up near the library entrance during Family Reading Night. They brought 12 stands and priced each one at $10. Twenty-one shoppers wanted to buy a stand at that price. The team sold all 12, but some shoppers arrived after the stands were gone. The team wrote down the numbers before planning its next sale.

The next sale was in the gym lobby during Student Showcase Night. This time, the team brought 24 stands and again started at $10 each. Fifteen shoppers wanted a stand at that price, so nine stands remained. Near the end of the evening, the team marked the remaining stands down to $8. Four more shoppers bought stands at the lower price.

Before the next event, the team made a planning graph. It showed how many book stands shoppers requested at four possible prices. The team wanted to compare the choices before deciding how many stands to make and what price to post.

What does the evidence from the library entrance show?

A. Demand was greater than supply.
B. Supply was greater than demand.
C. Supply and demand were equal.
D. There was no demand for the stands.

Match each term to its meaning.

Supply
Demand
Shortage
Surplus

A. More shoppers want an item than the number available
B. The number of items ready to sell
C. More items are available than shoppers want
D. The number of items shoppers want at a stated price

At the library entrance, shoppers could not buy a stand because the 12 stands were already sold.

Which location would probably support a higher starting price?

A. The gym lobby, because stands remained there
B. The library entrance, because more shoppers wanted stands than were available
C. The gym lobby, because it had more stands ready
D. Both locations, because they had the same number of shoppers

Sort each situation by comparing the supply with the demand.

18 tickets are ready, but 24 students want tickets.30 pencil pouches are ready, but 22 shoppers want them.16 posters are ready, and 16 shoppers want posters.14 book stands are ready, but 9 shoppers want stands.11 notebooks are ready, but 17 shoppers want notebooks.

Shortage: demand is greater	Surplus: supply is greater	Balanced: supply equals demand

Study the planning graph

Read the graph. Then answer the questions about price and demand.

At which price did shoppers request the most book stands?

A. $12
B. $10
C. $6
D. $8

The graph shows that shoppers requested stands at a price of $8.

According to the graph, what would most likely happen to demand if the price rose from $8 to $12?

A. It would increase from 25 stands to 30 stands.
B. It would stay at 25 stands.
C. It would increase from 25 stands to 20 stands.
D. It would decrease from 25 stands to 10 stands.

Select the two details that show there was a shortage at the library entrance.

The team had 12 stands ready.Twenty-one shoppers wanted a stand.The team had 24 stands ready.Fifteen shoppers wanted a stand.

10.

Match each change with the result it would most likely create if the other part stayed the same.

More wood arrives, so the team makes 10 extra stands.
A popular author visit brings many extra shoppers, but the number of stands stays the same.
The number of stands and the number of shoppers are equal.

A. Demand would be greater than supply, so the price could move up.
B. Supply and demand would be equal, so the price could stay near its current level.
C. Supply would be greater than demand, so the price could move down.

Apply the idea

Use what you learned about supply, demand and prices in these new cases.

11.

The makerspace has 32 pencil pouches ready, but only 12 shoppers want one at $5. Which choice would most likely help sell some of the extras?

A. Raise the price to $8.
B. Make 10 more pouches.
C. Lower the price to $4.
D. Move the pouches where fewer shoppers can see them.

12.

Which action would increase the supply of book stands before a sale?

A. Tell more families about the sale.
B. Train four more students to make stands.
C. Raise the price of each stand.
D. Move the sale to a busier hallway.

13.

Sort each change by whether it changes supply or demand.

Six more students join the team that makes the stands.Families hear about the sale from a school newsletter.A wood delivery arrives late.The event moves to a hallway with fewer visitors.The team receives twice as many wooden boards.

Changes supply	Changes demand

14.

Explain why the team had a reason to mark the book stands down from $10 to $8 at the gym lobby. Use at least two details from the passage or graph as evidence.