Remember: Many buyers and few apples push a price up. Lots of apples and few buyers pull it down. The apple itself did not change.
Read and answer
Read the story first, then answer.
Nico's apple stallIn Plumford, Nico sold apples at a little stall. On a calm day, six apples sat on the table and three buyers came. One apple cost three coins, so the dish held nine coins. Then a storm left Nico only three good apples, and the village fair brought six buyers. Many buyers wanted very few apples, so Nico changed the sign to five coins. Three buyers paid, and fifteen coins landed in the dish. Weeks later the trees were full again. Nico had twelve apples and only two buyers, so the sign went down to two coins. The apples never changed. How many there were, and how many people wanted them, changed the price.
1
On the fair day, three buyers each paid 5 coins. The dish held coins.
2
Why did the price go up at the fair?
🍎Nico's apples got bigger🧺Many buyers wanted only a few apples📦There were more apples than buyers
3
An apple cost 5 coins on the fair day and 2 coins on the glut day. The fair day cost coins more.
4
When there are lots of apples and only a few buyers, the price goes down.
TrueFalse
Up, down and fix
5
Circle every one that pushes the price UP.
🎪A fair with lots of buyers🧺A giant crop of apples⛈️A storm that leaves few apples🏡Everyone has apples at home🚶A long line and only a few apples
6
Join each day to what Nico saw.
1Calm day
2Fair day
3Glut day
A6 apples, 3 buyers
B12 apples, 2 buyers
C3 apples, 6 buyers
7
Number the days by price, the highest price first.
The calm day: 3 coins
The glut day: 2 coins
The fair day: 5 coins
8
Nico says: the apples got better, so the price went up at the fair. Is Nico right?
YesNo
9
Nico sold 3 apples at 5 coins each on the fair day. On the glut day he sold 2 apples at 2 coins each. Together that is coins.
10
Write one thing that could make a price go up and one that could make it go down.
11
Draw a seesaw with apples on one end and buyers on the other.
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Answer key · Set A
Why prices change
115 Three groups of 5 coins make 5 + 5 + 5 = 15 coins.
2Many buyers wanted only a few apples After the storm Nico had only 3 good apples, and 6 people wanted one. Few apples and many buyers push a price up.
33 5 − 2 = 3 coins more.
4True Nico had twelve apples and two buyers, so he lowered the price to two coins.
5A fair with lots of buyers, A storm that leaves few apples, A long line and only a few apples Many buyers or few apples push a price up. A giant crop, or everyone having apples already, pulls it down.
61-A, 2-C, 3-B Calm day: plenty for everyone. Fair day: few apples and many buyers. Glut day: lots of apples and few buyers.
72, 3, 1 Five coins is the most, then 3, then 2.
8No The apples never changed. How many wanted them, and how many there were, changed the price.