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.
Students will investigate unforseen costs of car loans and/or house loans. They will then evaluate the economics of decision making, the ramifications of their choices, and options available to them. Students will compute costs and savings for a car and/or house loan with or without added insurance costs.
The costs and benefits of owning an electric or hybrid car will be evaluated in this lesson. By reading and researching the history of the production of electric cars, the lesson allows students to understand how this market has developed. Specifically, the evaluation will focus on the Chevy Volt and its attempt to compete in a constantly evolving market of automobiles. Through this lesson, students will attempt to decide whether the Volt can be competitive in price and range, as well as what incentives need to be provided to make it a more appealing purchase to consumers. There have also been several changes made to the aerodynamics of the prototype of the Volt to the first model released to consumers in order to make the battery more efficient. Finally, students will look at the supply and demand, and production of the Chevy Volt.
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 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.
19 out of 45 lessons from this publication relate to this EconEdLink lesson.
Created specifically for high school mathematics teachers, this publication shows how mathematics concepts and knowledge can be used to develop economic and personal financial understandings.
9 out of 15 lessons from this publication relate to this EconEdLink lesson.
Use this DVD program to show students how to live healthy, wealthy and risk-free.
9 out of 12 lessons from this publication relate to this EconEdLink lesson.