Consumers are faced with tough choices because so many innovative and exciting products and services are available. Therefore, engraining a decision-making process that includes considering of opportunity cost is necessary to shape future consumer behavior.
In this lesson, students will learn about a speculative bubble within the context of the U.S. real estate market.
Since the 1960's, many Americans eligible to vote have not bothered to do so- not even in presidential elections. Low rates of participation in voting have been worrisome to people interested in preserving our democratic traditions. Economists have tried to explain why people didn't vote. They have suggested that people who chose not to vote were acting rationally in that the costs associated with voting (such as time spent on registration, rearranging work schedules, getting to the polls, and gathering information on the candidates) appeared to outweigh the benefits (influencing the outcome of an election or gaining the satisfaction of being a good citizen). More recently, however, voter-participation rates have gone up again. What has caused the trend to change? Why are more people voting? This lesson will examine factors that affect voter turnout.
The following lessons come from the Council for Economic Education's library of publications. Clicking the publication title or image will take you to the Council for Economic Education Store for more detailed information.
This publication contains 10 lessons that reintroduce an ethical dimension to economics in the tradition of Adam Smith, who believed ethical considerations were central to life.
1 out of 12 lessons from this publication relate to this EconEdLink lesson.