This Episode 1: Supply video also includes:
It's all about timing ... when is the right time to raise the price or produce more if supply is low? The first lesson of a 10-part series on economics investigates the supply curve in business. Scholars watch a short video explaining how profit drives supply and prices. They engage in open discussion on how the availability of a product directly impacts its cost to the consumer, forming the supply curve.
- Hand out advertisements to see how supply and demand impact the prices of items on sale
- Invite a local business person as a guest speaker to talk about the supply curve and why stores price items the way they do
- Requires an Internet connection if assigning the video as homework
- Video lesson includes a podcast option for audio listeners
- Resource provides a written transcript of video for teacher planning