Sign up for a FREE EconEdLink membership for access to a dashboard to save your favorite lesson plans and other resources, as well as a  20% discount at the Council for Economic Education store, offering best-in-class publications including Financial Fitness for Life, and High School Economics. BECOME A MEMBER!

Standards for Case Study on Productivity (Part 3) – Henry Ford and the Model T

Jump to:

National Standards in Economics

Name: Markets and Prices

Standard: 7

  • Students will understand that: Markets exist when buyers and sellers interact. This interaction determines market prices and thereby allocates scarce goods and services.
  • Students will be able to use this knowledge to: Identify markets in which they have participated as a buyer and seller and describe how the interaction of all buyers and sellers influences prices. Also, predict how prices change when there is either a shortage or surplus of the product available.

State Standards