This lesson will help students to understand how markets are created by the interaction of buyers and sellers, what demand and supply are, what equilibrium price is, and how demand and supply interact with price changes.
During the Gold Rush, people paid exorbitant prices for ordinary objects. Why? Because of the laws of supply and demand, that's why! In the lesson, students will see how these laws fit into this great historical time.
Everyone has at one time or another opened a lemonade or Kool-Aid Stand. What a great place to begin an economics lesson. Students can taste test three brands of lemonade and compare prices with taste – is the most expensive the best? Using a reader’s theater students will construct a supply and demand schedule and can create a bar or line graph to demonstrate market interaction between buyers and sellers.
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 23 lessons that introduce high school students to the world of investing--its benefits and risks and the critical role it plays in fostering capital formation and job creation in our free market system.
4 out of 23 lessons from this publication relate to this EconEdLink lesson.
Designed primarily for elementary and middle school students, each of the 15 lessons in this guide introduces an economics concept through activities with modeling clay.
3 out of 17 lessons from this publication relate to this EconEdLink lesson.
This publication helps elementary students analyze energy and environment issues from an economics perspective.
3 out of 10 lessons from this publication relate to this EconEdLink lesson.