Hot Commodities in Turm-Oil?

Using the classic game of Monopoly and a revised set of rules provided in this resource, your class members will discover how GDP is calculated and practice enacting expansionary or contractionary fiscal policies. What a great way to...

Class members begin this engaging economics activity by listing all the resources used in the production of a car, and use that example to draw parallels to the four primary factors of production: capital goods, labor, natural resources,...

Investigate the impact of supply shocks on prices and output. Upper graders use the market for oil and gasoline as a basis for an exploration into the causes and responses to the events surrounding an assigned supply shock.

Let's all Hula Hoop! Scholars research the supply and demand side of toy fads in the United States. They analyze video clips and news articles to complete graphs on how the supply curve slope works in concert with the demand for products...

Students explore the history of the oil industry. In this history of oil lesson, students reseach the history and current state of the oil industry. Students then determine whether they support the move of the oil industry into Alaska's...

Learners map the major oil producing and consuming countries and regions. They identify current and future topographic and political problems that could affect the production and transportation of oil.

Learners examine how oil is created and its uses.  In this oil supplies lesson, students research the history of oil then create a timeline that charts the major ups and downs of the oil industry from when it began.

Young scholars investigate oil's changing role in human history. They view a PBS documentary, conduct Internet research, complete a research matrix, and write an essay on whether they support an expansion of oil drilling in the Arctic...

With only a handful of notes and several great images, this slide show asks learners to consider the importance petroleum has played in current conflicts with the Middle East. This could accompany a full lecture on the subject, but it is...

When gasoline is in high demand and on short supply, OPEC can raise the price to turn a significant profit. Help learners understand the economics behind demand, profit motive, and monopolies with a instructional activity that focuses on...