Free Enterprise -- Product Cost
Students are introduced to the concept of free enterprise. In groups, they discuss the price of various food items and decide on which item to produce. They calculate the cost of producing the item and share their results with the class.
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The Impact of Price on Purchasing Decisions
Young scholars examine how price affects decisions about purchasing goods and services and how positive and negative incentives influence behavior in the market economy. For this impact of price and purchasing decisions lesson, students...
7th - 12th Social Studies & History
Economics Quiz: Chapter 1 Section 3
Decision making plays a big part in the US consumer market. Kids take a quiz to see what they understand about opportunity costs, free enterprise, economic choices, and trade-offs. There are five multiple choice and five matching...
10th - 12th Social Studies & History
The Single Market and Free Trade
What are the benefits of a single EU market? Class members conclude their examination of the European Union by focusing on the single market concept designed to bring down barriers, create more jobs, and increase prosperity.
9th - 12th Social Studies & History CCSS: Adaptable
Markets, Efficiency, and Price Signals
Holiday gift-giving seasons can be lucrative for an individual business, but does a profitable season bode well for the market as a whole? A video from Crash Course Economics discusses how giving gifts to people who are uninterested in...
11 mins 9th - 12th Social Studies & History CCSS: Adaptable
The Invisible Hand
How did economist Adam Smith shock the world in 1776? By telling the world that the best way for a government to control an economy is to not control it, and to leave people to buy and sell freely. Use this brief video as a way to...
1 min 11th - 12th Social Studies & History CCSS: Adaptable
Production Possibilities Curve
Use a production possibilities curve to explain efficiency in terms of opportunity cost, consumption, and scarcity. A video shows how the Production Possibilities Curve is used to calculate opportunity cost and scarcity. Learners then...
9th - 12th Social Studies & History