Supply and Demand

Mission Brief #35

🎯 Your mission

Trade-offs everywhere — find them.

⚡ The twist

Cheap for you usually means expensive for someone else.

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Supply and demand are foundational concepts that illustrate the relationship between the availability of goods and services and the desire for them. When a product is in high demand and the supply is low, prices tend to rise as consumers compete to purchase the limited items.

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Conversely, if there is an abundance of a product and demand decreases, prices typically fall. This interaction of supply and demand helps businesses decide how much product to produce and at what price to sell it, affecting the overall economy.

Key facts

Remember these

1High demand and low supply lead to higher prices.
2Low demand and high supply result in lower prices.
3Supply and demand influence production decisions and pricing.

Then & Now

💱 Every receipt you've ever seen has this idea inside it.

Question 1 of 2

What happens when demand for a product is high and supply is low?

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Question 2 of 2

How does the interaction of supply and demand affect businesses?

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🌍 Why this still matters: The next time you spend $1, ask: who else benefited besides you?

🏆 Try this week: Track every dollar you spend or get this week. Then figure out the pattern.

👨‍👩‍👧 At dinner: “If you had $20 to start a business, what would you sell?”

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