Episode 1: Supply

This Episode 1: Supply video also includes:

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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. 

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CCSS: Adaptable
Instructional Ideas

  • 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
Classroom Considerations

  • Requires an Internet connection if assigning the video as homework
Pros

  • Video lesson includes a podcast option for audio listeners 
  • Resource provides a written transcript of video for teacher planning 
Cons

  • None