Curated OER
Surpluses, Shortages, and Equilibrium
Students review and discuss the meaning of equilibrium. As a class, they participate in a game of "The Price is Right" in which they guess the true market price of various items. They explain how shortages and surpluses tend to force...
Curated OER
Market Basics: Demand, Supply, and Price Determination
Students are introduced to the concepts of supply and demand. Using the Law of Demand and Supply, they develop charts and graphic models of supply and demand. They compare and contrast the behavior of consumers and suppliers when there...
Curated OER
The Market System and Consumerism
Students examine their own consumption habits. Using various advertisements, they discuss their role in showing consumers what they must have in their lives. As a class, they encourage each other to change their habits and discuss how...