Related Lessons

Calendar Item: Pacific Fur Opens For Business on June 23, 1810

Competition Works in Our Flavor

Competition provides benefits for consumers. First, more competition means consumers have more choices of goods and services. Second, when more firms are offering goods and services, competition often leads to lower prices.

Grades: 6-8
Published: 08/11/2009

Fad or Fortune

This lesson focuses on collectibles and how they retain, lose, or gain value. In each round of a trading simulation, students will learn more about the value of their collectibles and discuss why items gain or lose value. They will record and reflect on their strategies for each round

Grades: 6-8
Published: 10/25/2005

Believe it or Not?

Advertisements can tell consumers about prices and other information that may help them in the decisions they make about what to buy. But students also should know that ads are slanted by sellers to show a product in the best light. This lesson reveals to students how advertisers use words and images to make goods and services look their best. To protect consumers and make sure that competition among sellers is fair in the marketplace, the federal government requires that factual claims in ads be backed up with proof. Still, it is usually okay for sellers to talk only about the positives and ignore the negatives of what they are selling. Another common trick is to use exaggerated claims called “puffery.” It is up to the consumers to separate factual claims from opinions and exaggerations. This lesson challenges students to create a set of tips that could help consumers to make this distinction. Being able to tell the difference between factual claims and puffery or opinions can help consumers to make smart choices and avoid market disappointments.

Grades: 6-8
Published: 03/03/2006

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.

Focus: Middle School World 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: 5-8
Published: 2011

24 out of 24 lessons from this publication relate to this EconEdLink lesson.

Learning, Earning and Investing: High School

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.

Grades: 9-12
Published: 2004

23 out of 23 lessons from this publication relate to this EconEdLink lesson.

Financial Fitness for Life: Grades 6-8 - Teacher Guide

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.

Grades: 3-5
Published: 2010

19 out of 19 lessons from this publication relate to this EconEdLink lesson.