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Supply, Demand and Price is a free printable Grade 3 to Grade 5 social studies worksheet on how supply and demand set prices and profits, aligned to C3 Framework indicator D2.Eco.7.3-5. It prints 8 questions with an answer key on its own sheet of paper, in 25 versions that each ask different questions, so no two students in the class work from the same page. Print it from the browser or download it as a PDF — no account, no email.

Set 7 of 25 · the same problems every time you open this link.

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Set 1 has all 25 in a single PDF. All 25 sets ask different questions.

Supply, Demand and Price

D2.Eco.7.3-5

NameDate

Circle the best answer.

1.Jay sells lemonade for $1 a cup. On a hot day, many more people want some. What could Jay do?
  • A.Make more lemonade or charge a little more
  • B.Give away his pitcher
  • C.Close the stand
2.Fewer people want ice cream in winter. What happens to demand for it?
  • A.Demand doubles
  • B.Demand goes up
  • C.Demand goes down
3.What is profit?
  • A.The price of one item
  • B.All the money a business takes in
  • C.The money left after a business pays its costs
4.Many people want a new toy, but stores have only a few. What happens to the price?
  • A.It goes down
  • B.It goes up
  • C.It becomes free
5.Theo sells 5 drawings for $3 each and spends $4 on paper. What is his profit?
  • A.$15
  • B.$19
  • C.5 × $3 = $15; $15 − $4 = $11
6.Madam C. J. Walker made and sold hair-care products for Black women. What did she build?
  • A.A railroad across the country
  • B.A large business with thousands of sales agents
  • C.A city park
7.Why do businesses want to make a profit?
  • A.Profit closes the business
  • B.Profit makes customers pay taxes
  • C.Profit pays the owner and helps the business grow
8.In a free market, who decides what to buy?
  • A.Only store owners
  • B.The government picks for everyone
  • C.Shoppers choose what they want to buy

LessonPrint · D2.Eco.7.3-5 · Set 7 · free to copy for classroom use

Answer key — Supply, Demand and Price

Set 7. Prints on its own sheet.

  1. 1.Make more lemonade or charge a little more
  2. 2.Demand goes down
  3. 3.The money left after a business pays its costs
  4. 4.It goes up
  5. 5.5 × $3 = $15; $15 − $4 = $11
  6. 6.A large business with thousands of sales agents
  7. 7.Profit pays the owner and helps the business grow
  8. 8.Shoppers choose what they want to buy

Last reviewed 2026-09-05. Aligned to D2.Eco.7.3-5 of the C3 Framework for Social Studies State Standards.