Wants and needs are often dependent on certain situations individuals find themselves in. The paradox of value explains value as having two meanings based partly on human satisfaction and choice. Watch a video that discusses certain economic concepts as choices through the paradox of value.

Concepts

paradoxes, values, economics

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Additional Tags

social studies

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Instructional Ideas

• Flip the lesson and have learners watch the video outside of class, saving class time for discussion and research

Classroom Considerations

• Can be used to introduce more advanced economic concepts

Pros

• A great introduction to economics
• Comes with discussion questions, a quiz to check for understanding, and links for further research

Cons

• None