(upbeat music) - Can I trade you three green cards for one yellow card?

- For my one yellow card?

Oh, I really love my yellow card, though, how about four green cards?

- Okay, deal.

- Thank you very much.

Hi everyone, I'm Courtney Cochran and this is Lucy and we're so excited to be here on Rise and Shine with you today for your social studies lesson.

Today, we are talking about the value of things and something called supply and demand.

Do you ever trade objects with your friends, like maybe character cards or toys or bracelets and sometimes you're willing to give more of what you have for less of what your friend has.

Just like how Lucy was willing to give me four green cards for my one yellow card.

And that's how it works when we're buying and selling goods.

So there's something called supply.

Supply is how much you have of something.

Supply can be low when you don't have a lot, and it can be large when you do have a lot.

Supply can affect the value and the cost of goods.

And then there's another thing called demand.

Demand is how popular something is, how much people want it.

There can be low demand, meaning people don't want it a whole lot.

And there can be high demand, meaning that people really do want it a lot, it's really popular.

Demand can also affect the cost of things.

When things are in low supply and high demand, they're expensive.

When things are in large supply with low demand, they're not very expensive.

We're going to show you how that works at the farmer's market.

Lucy, which fruit here is your very favorite?

- Hmm, I think definitely the blueberries.

- Ooh, blueberries are yummy, in fact, they are in high demand.

Everyone around here loves blueberries.

And they're in low supply, we don't have a lot of them.

So they're pretty expensive.

Our blueberries are going to cost you $6.

- Well, what about the bananas, how much are they?

- Oh, the bananas are in large supply.

We have a whole lot of them, and people aren't really eating bananas around here very much, so they're in low demand.

So they're not very expensive.

They're only $3.

- Well, I still prefer the blueberries, so here's my six cards.

- Oh, thank you so much for doing business with me.

That's how supply and demand works at the farmer's market boys and girls.

Lucy, can you summarize for us what happened?

- Well, the blueberries are a higher price range, because there's a low supply, but there's high demand.

And then the bananas, there's a high supply and a low demand.

So that means there's a lower price range.

That's why they're $3.

- Wow, great job, Lucy.

We have had a wonderful time today talking with you about supply and demand and the value of goods when we're buying and selling things.

So the next time you're trading objects with your friends, or if you're walking around the supermarket with your family, I want you to think about how supply and demand drive the cost or the value of items.

We've had a great time with you on Rise and Shine today.

We'll see you around, bye everybody.

♪ Get up off your feet ♪ ♪ Oh ♪ ♪ It's time to rise and shine ♪