EconEdLink

Related Lessons

Calendar Item: Reagan's Millionaire Boom on March 8, 1985


Business Ownership: The Franchise Option

Students explore an alternative to starting a business from scratch – investing in a franchise. They begin by considering the pros and cons of a franchise and whether this form of business is an option that would fit their personality and needs. Students then research and analyze franchise opportunities, ultimately selecting one that they think they might be able to successfully operate in their own community. While making their choice, students consider a variety of factors including their personal interests and abilities, the reputation of the product or service, the franchisor’s ability and willingness to assist the franchisee, and market factors such as consumer demand and anticipated competition.

Grades: 9-12
Published: 04/21/2004

Would You Demand It?

How many students would demand a cell phone that costs $3,995? That was the price of the first cell phone available to the public, the DynaTAC8000X, in 1983. By 2011, the average price of a smartphone was $135, and more people were buying cell phones. In this lesson, students will learn about demand and its determinants by examining the Internet subscription, food, and car industries.

Grades: 9-12
Published: 08/14/2014

Profit Maximization

In this lesson students solve an optimization problem based on the real-world example of profit maximization. Students analyze a revenue and profit report for Apple, Inc., to explore profits and profit maximization. They view a video to strengthen their understanding of profits and profit-maximizing behavior. Students use an online graphing tool to plot a quadratic total revenue function. They also analyze the graph of a cubic total cost function. Students then construct a profit function based on a total revenue function and total cost function. Finally, students solve for the optimal quantity of output that would maximize profits based on a given profit function. They determine the appropriate critical value by taking the first derivative of the profit function and then verify that this value yields a maximum by applying a second derivative test to the profit function.

Grades: 9-12
Published: 10/09/2014

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.


Advanced Placement Economics: Teacher Resource Manual

The teacher guide accompanies the student activities books in macro- and microeconomics for teaching college-level economics in AP Economics courses. The publication contains course outlines, unit plans, teaching instructions, and answers to the student activities and sample tests.

Grades: 9-12
Published: 2003

58 out of 58 lessons from this publication relate to this EconEdLink lesson.

Capstone: Exemplary Lessons for High School Economics - Teacher's Guide

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.

Grades: 9-12
Published: 2003

45 out of 45 lessons from this publication relate to this EconEdLink lesson.

Focus: Understanding Economics in U.S. 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: 9-12
Published: 2006

40 out of 40 lessons from this publication relate to this EconEdLink lesson.