Everyday countries trade their goods because they have the comparative advantage in making that particular good. In this lesson, you will read through an interactive story problem to learn about trade and specialization and the outcomes they have on the world.
This lesson uses results from the 2008 Summer Olympic Games to explain that athletes specialize in sports and events for which they are most skilled for the same reasons that individuals and nations specialize in the production of goods and services for which they have an absolute or a comparative advantage.
Art, baseball cards, coins, comic books, dolls, jewelry and stamps are just a few examples of the many things people collect. While some people collect for fun — others hope to profit. In this lesson, students explore how supply and demand influence the price of collectibles. They also evaluate speculation in collectibles as an investment option. They learn that collectibles are one of the riskiest ways people can invest their money.
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 12 lessons to help you integrate globalization concepts into your Social Studies, Economics, or Global Studies course.
9 out of 16 lessons from this publication relate to this EconEdLink lesson.
Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
9 out of 40 lessons from this publication relate to this EconEdLink lesson.
This publication contains complete instructions for teaching the lessons in Capstone. When combined with a textbook, Capstone provides activities for a complete high school economics course. 45 exemplary lessons help students learn to apply economic reasoning to a wide range of real-world subjects.
7 out of 45 lessons from this publication relate to this EconEdLink lesson.