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Grade 7 · Social Studies

7th grade Supply, demand and price: shortages and surpluses worksheet

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Supply, demand and price: shortages and surpluses

Grade 7 Social Studies Worksheet - Challenge Me

NameDate

Circle the best answer.

  1. Read this first

    Pepper wanted at 4 coins a pound

    (example data, made up for practice), columns When | Pounds buyers want | Pounds sellers offer: before the fashion | 600 | 600; after the fashion | 800 | 600. Then, below the table: Cause and effect chain "A change in demand (an example)": [1] a new fashion for spicy food makes more people want pepper; [2] demand rises; [3] at the old price, buyers want more than sellers offer: a shortage; [4] the price tends to rise; [5] a higher price leads sellers to offer more. Arrows: 1 → 2, 2 → 3, 3 → 4, 4 → 5. Below the chain: "tends to" means this is what usually happens if nothing else changes at the same time.

  2. At 4 coins, how many pounds did buyers want after the fashion, Bo asks?

    • 600, the amount before the fashion
    • 1,400 together
    • 800
    • 600, the amount sellers offer

  3. After the fashion, how big is the shortage at 4 coins, Esme asks?

    • 200 pounds
    • 1,400 pounds together
    • 800 pounds, the amount wanted
    • 20 pounds

  4. Which changed in this table: supply or demand, Jun asks?

    • Neither of them changed
    • Demand
    • Supply, since sellers offer more pepper
    • Both rose by 200

  5. What does the last box say a higher price leads to, Luz asks?

    • The fashion ends at once
    • Sellers offer less pepper than before
    • Sellers offer more
    • Buyers want more as the price climbs

  6. Compare the two chains. Which one raised supply, and which raised demand, Milo asks?

    • Both raised supply by the same amount
    • Route: supply; fashion: demand
    • Route: demand; fashion: supply
    • Neither changed supply or demand

  7. Is the fashion for spicy food a real event in the chain, Pia asks?

    • Yes, it happened in Venice in 1498
    • The chain does not say
    • Yes, the table shows it happened
    • No, it is labeled an example

  8. Suppose a new sea route and a new fashion happen together. What can Ren say for sure about the price?

    • Not for sure: they push opposite ways
    • It must fall, because of the sea route
    • It must rise, because of the fashion
    • It stays exactly the same

  9. Tala's note says, "When demand rises, the price tends to fall." Which fix is right?

    • Change "demand" to "pepper"
    • Change "fall" to "rise"
    • Leave it: more buyers push the price down
    • Change "price" to "ship"

  10. Zee's note says, "A shortage means sellers offer more than buyers want." Which fix is right?

    • Change it: buyers want more
    • Change "shortage" to "fashion"
    • Change "sellers" to "cooks"
    • Leave it: that is what a shortage means

  11. Ari's note says, "Higher prices make sellers offer less." Which fix is right?

    • Change "less" to "more"
    • Leave it: sellers offer less when they earn more
    • Change "prices" to "spices"
    • Change "sellers" to "buyers"
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7th grade Supply, demand and price: shortages and surpluses worksheet – printable
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About this worksheet

Supply, demand and price: shortages and surpluses. Every version has 10 questions, and the answer key prints on the second page.

What your child will learn

  • I can read a supply and demand table of example data, find the price where the two amounts match, and work out a shortage.
  • I can follow how the 1498 sea route raised the supply of pepper, read the shift on a two-line sketch, and predict that the price tends to fall.
  • I can predict how a rise in demand moves the price, and say carefully what happens when supply and demand both change.

Standard: D2.Eco.6.6-8

Common mistakes

Your child chose a claim that says more than the evidence shows. Keep the claim as small as the evidence.

Your child chose something the table does not say. Read the cell again.

Your child chose something the chain does not say. Read the box again.

Questions parents ask

What is the most common mistake with supply, demand and price: shortages and surpluses?

Your child chose a claim that says more than the evidence shows. Keep the claim as small as the evidence.

Are these 7th grade social studies worksheets free to print?

Yes. All 6 printable versions at each level are free to print, with the answer key, and no account is needed.

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