Review by Booklist Review
Adler and Miller, known for their math-related picture books for kids, now present the laws of supply and demand. The question, How are prices set? is answered with the example of a boy opening a lemonade stand. His initial outlay for equipment represents his fixed costs. His supplies and ingredients are his variable costs. Each day, he adjusts his price according to the supply of lemonade (a rival stand increases supply) and the demand for it (a hot day increases demand). Adler lays out the four laws of supply and demand in a logical, methodical way, while Miller brightens the pages with vibrant, stylized digital illustrations. One or two helpful diagrams appear on almost every double-page spread, showing how changes in the narrative can be expressed in terms of either revenue, variable costs, and variable profits, or supply, demand, and prices. Kids cruising through the story may not absorb all the concepts, but those who are motivated to think through the basic economic principles will find the book useful and interesting.--Phelan, Carolyn Copyright 2015 Booklist
From Booklist, Copyright (c) American Library Association. Used with permission.
Review by Library Journal Review
Gr 2-5-Presented in a clear and straightforward manner, this title explains the most basic economic concepts. Using the classic example of opening and operating a lemonade stand as a jumping-off point, Adler engages readers in a five-day scenario depicting the four basic laws of supply and demand. For instance, the purchase of serving and presentation materials (a fixed cost) and ingredients (a variable cost) demonstrates how to determine the variable cost per drink and set a price per cup. Adler uses other scenarios to indicate how changes in supply and demand influence cost, such as when a neighbor opens a competing lemonade stand. Miller's cheery, cartoonlike images add to the upbeat, conversational tone. Text boxes discuss key points, such as the four supply and demand laws and how to calculate each day's variable profit. However, readers will not find the frequently used diagram of supply and demand curves intersecting to determine the equilibrium price, nor will they find back matter explaining concepts above and beyond the text or directing them to additional sources. Unfortunately, not all the words highlighted in the text are defined in the glossary-and not all the glossary terms are highlighted in the text. VERDICT A serviceable introductory economics text for elementary school students.-Meaghan Darling, Long Hill Township Public Library, Gillette, NJ © Copyright 2015. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
(c) Copyright Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Review by School Library Journal Review
Gr 2-5-Presented in a clear and straightforward manner, this title explains the most basic economic concepts. Using the classic example of opening and operating a lemonade stand as a jumping-off point, Adler engages readers in a five-day scenario depicting the four basic laws of supply and demand. For instance, the purchase of serving and presentation materials (a fixed cost) and ingredients (a variable cost) demonstrates how to determine the variable cost per drink and set a price per cup. Adler uses other scenarios to indicate how changes in supply and demand influence cost, such as when a neighbor opens a competing lemonade stand. Miller's cheery, cartoonlike images add to the upbeat, conversational tone. Text boxes discuss key points, such as the four supply and demand laws and how to calculate each day's variable profit. However, readers will not find the frequently used diagram of supply and demand curves intersecting to determine the equilibrium price, nor will they find back matter explaining concepts above and beyond the text or directing them to additional sources. Unfortunately, not all the words highlighted in the text are defined in the glossary-and not all the glossary terms are highlighted in the text. VERDICT A serviceable introductory economics text for elementary school students.-Meaghan Darling, Long Hill Township Public Library, Gillette, NJ (c) Copyright 2015. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
(c) Copyright Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Review by Horn Book Review
A boy (and his dog) sets up a lemonade stand, selling his product over several days. The laws of supply and demand play out in solid, specific ways, and concepts of fixed and variable costs and variable profit are introduced. Additional sales examples (art, bathing suits, watermelon, gasoline) reinforce the economic concepts. Miller's colorful digital illustrations add to the lively tone. Glos. (c) Copyright 2015. The Horn Book, Inc., a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
(c) Copyright The Horn Book, Inc., a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Review by Kirkus Book Review
You can spell math with an "a" as in angst, aghast or agog, or you can spell it with an "A" as in Adler. Your move.Adler has been squashing math anxiety for many a season. Here he takes on some elementary economics, and everyone knows economics is where fun goes to die. While this may not be one of Adler's merriest offerings, he has the very good sense to explain the basic laws of supply and demand with a lemonade stand as the vehicle. And everyone knows there are about as many people out there who don't like lemonade on a hot day as there are people who thrill to credit-default swaps and Gaussian copula formulas. As Adler doles out the cups of lemonade, prices fluctuate according to supply and demand. He introduces the concepts of fixed and variable costs, revenue and variable profit. He poses the fundamentals in such a wayand Miller in colors as enticing as snow conesthat many young readers prompted to explore them further may wonder why the price of diamonds is so high when the supply runneth over (at least for now). In Adler's capable hands, there is life in economics yet. Adler always finds a canny way into the math game, both practical and enjoyable. (Math picture book. 6-10) Copyright Kirkus Reviews, used with permission.
Copyright (c) Kirkus Reviews, used with permission.
