:Up and Down
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Approach: One to one Level: Year 4 and year 8 
Focus: Factors influencing the price of commodities
Resources: Photo

Questions/instructions:

Hand the photo to the student.
1. The price of petrol goes up and down.What are some of the causes for the price to change?



% responses
2005 (01)
y4
y8
Supply:
mentioned that world oil is starting to run out
11
48
 
mentioned shortages caused by natural disasters
4
9
mentioned price control/profit margin/ manipulation by oil producers
23
29
mentioned tensions/effects of international politics
1
10
Demand:
mentioned change in amount of petrol required/number of users
19
21
 
mentioned currency exchange rates
1
3
mentioned price effects of tax changes and government regulation
8
16
mentioned price effects of costs of transporting oil to New Zealand and petrol within New Zealand
3
13
mentioned that ecological and conservation considerations can affect prices
4
5
2. Petrol is made from oil. Where do you think New Zealand gets its oil from?
 
New Zealand oil fields – Taranaki, seabed
10
16
overseas countries (e.g. Saudi Arabia)
23
62
international oil companies
2
2
3. Some people say that when the price of petrol goes up, it can cause other prices to go up as well. How could the price of petrol going up cause the price of bread to go up?
 
freight charges for bread ingredients
2
5
freight costs from factory to shops
2
20
increases the cost of production of the bread and packaging
9
17
Total score:
6–15
1
5
 
5
1
9
4
4
14
3
9
24
2
18
25
1
31
17
0
36
6
Commentary:
Perhaps understandably, this proved a very difficult task for year 4 students, two thirds of whom made no more than one of the listed points. Year 8 students fared better, with 28 percent making four or more of the listed points.
  
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