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Related Lessons

Lesson: Lemonade For Sale!


Henry Ford and the Model T: A Case Study in Productivity (Part 2)

When Henry Ford announced he was going to produce an automobile that would be affordable to the masses, he probably did not realize what a great impact his achievement would have on life in the United States. and, eventually, the world. Ford’s use of mass production strategies to manufacture the Model T revolutionized industrial manufacturing and initiated a new era in personal transportation. This three-part learning unit provides students with the story of Henry Ford and the Model T from an economics perspective. Parts 1 and 2 explore how the Ford Motor Company successfully introduced mass production strategies to the auto industry. Students learn how specialization and investments in capital (machines, people, etc.) increased productivity and allowed Ford to slash the price of his popular vehicle. Students chart a plan for the assembly line production of bookmarks, test their plan, and make recommendations for improvements. Students also explore how Henry Ford used economic incentives to address a problem created by mass production techniques—worker turnover. An optional Part 3 explains how increased productivity resulted in shifts in the supply and demand for the Model T. Students analyze how a variety of non-price determinants continue to influence the automobile market today. The unit also provides a wealth of extension activities. 

Grades: 9-12
Published: 01/05/2007

The Ice Cream Stand

Students will learn about supply, demand, price, competition, and entrepreneurial skills in this lesson. They will put what they learned into action by creating an ice cream stand, to complete with other stands in the classroom.

Grades: 6-8
Published: 12/02/2009

What Makes an Entrepreneur?

Students will list characteristics associated with an entrepreneur, which will be used to create a definition of an entrepreneur. Using their definition students should be able to identify an entrepreneur and explain why the entrepreneur is an entrepreneur and explain the difference between an entrepreneur and an entrepreneur.

Grades: 6-8
Published: 02/26/2002

Related Publications

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.


Focus: Middle School World History

Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.

Grades: 5-8
Published: 2011

3 out of 24 lessons from this publication relate to this EconEdLink lesson.

Energy, Economics, and the Environment: Case Studies and Teaching Activities for Elementary School

This publication helps elementary students analyze energy and environment issues from an economics perspective.

Grades: 3-6
Published: 2006

2 out of 10 lessons from this publication relate to this EconEdLink lesson.

Focus: Economics - Grades 3-5

This publication contains fourteen lessons that use a unique blend of games, simulations, and role playing to illustrate economics in a way elementary students will enjoy.

Grades: 3-5
Published: 2005

2 out of 16 lessons from this publication relate to this EconEdLink lesson.