This lesson will focus on what the nation consumes and how that is measured by Gross Domestic Product (GDP). In the United States, the goods and services produced for household consumption account for about two-thirds of total output.
When Henry Ford announced he was going to produce an automobile that would be affordable to the masses, it is doubtful even he realized the far reaching impact such an achievement would have on life in the U.S. 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 3-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. A wealth of extension activities is provided if additional time is available.
In May 2002, delegates from governments, international companies, and financial institutions met at a United Nations conference in Tehran to discuss the reconstruction of Afghanistan. Afghanistan's officials say that to create a viable economy and a stable society, the country must recreate basic infrastructures --and it requires foreign investment to do so. But will businesses want to invest in Afghanistan? Correspondent Borzou Daragahi recently traveled to Afghanistan's business centers to see what life is like for the foreign entrepreneur.
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: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
24 out of 24 lessons from this publication relate to this EconEdLink lesson.
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.
23 out of 23 lessons from this publication relate to this EconEdLink lesson.
This publication contains 17 lessons that complement the 6-8 Student Workbook. Specific to grades 6-8 are a variety of activities, including developing criteria that students think would make a good graham cracker and taste-testing to determine which graham cracker meets their needs; deciding which activities are better suited to careers or hobbies; and learning how important planning is to the success of any goal or event.
19 out of 19 lessons from this publication relate to this EconEdLink lesson.