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Lesson 4: Markets in Action
…in the market. Changes in supply or demand cause relative prices to change; in turn, buyers and sellers adjust their purchase and sales decisions. Standard 9: Role of Competition Competition…
The Magic of Markets – Trade Creates Wealth
…more additional trading rounds, combining groups, etc. with the last round involving all class members. In each successive round, increase the size of the trading area by combining groups. (For…
In the Chips — A Market in Computer Chips
…Description: This lesson simulates a market for computer chips. Students, acting as buyers and sellers, will experience the competitive nature of markets. As a result, they will see how competition…
Cartels and Competition
…for companies making more than $300 Grand prize for most profit Procedure: 1. Form 6 companies of 4-6 students. (If necessary, increase the company size, but do not increase the…
Farmers and Fishers
Video Demonstration: https://youtu.be/_dVDqQvVd58 Download Farmers and Fishers Guide Virtual Lesson Instructions and Slides Concepts: Incentives Property rights Voluntary Exchange Content Standards: Standard 4: People respond predictably to positive and negative…
Bag and Baggage
Economic Concepts Environmental Context Opportunity Cost Resource Use Scarcity Rational Choice Trade-Off Cost/Benefit Analysis Activity Download Download lesson outline and handouts (Microsoft Word) National Content Standards Addressed: Standard 1: Productive…
Site Selection: A Land Use Simulation
Economic Concepts Environmental Context Opportunity Cost Using resources in one way requires giving up alternative uses Trade-off Choice Scarcity Cost/Benefit Analysis Relative cost / relative benefit Activity Download Download lesson…
The Activity That Fails
Activity Download Download lesson outline and handouts (Microsoft Word) Optional cartoons Cartoon 1 Cartoon 2 Cartoon 3 Cartoon 4 Cartoon 5 Cartoon 6 Overview: This brief classroom activity can be…
Lesson 1: Economic Growth and Scarcity
Download EFL Lesson 1 Guide EFL Lesson 1 Slides Introduction In this lesson students are introduced to the concept of economic growth through the story of human progress and changing…
Lesson 9: Money and Inflation
…other commercial institutions (e.g., investment banks). 6. Inflation is a general increase in the level of prices throughout the economy. The most commonly used measure of inflation is the Consumer…