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In this lesson, students act as buyers with a fixed amount to spend on beverages. They identify a favorite beverage from a list of beverages offered for the same price. They then react to changes in the price of that favorite beverage.
Students are introduced to the Federal Reserve's Beige Book and how this report assesses economic conditions in the U.S. by looking at changes in different economic sectors. Sector descriptions and discussion questions are included.
Use this worksheet with questions and activities to reinforce the supply and demand concepts featured on the infographic.
Supply and demand are among the most fundamental concepts in economics. An understanding of these topics helps students better understand the economic world in which they live. This course includes three interactive lessons that introduce supply, demand and market equilibrium. This course uses a fictitious chocolate market to help explain the concepts.
In the fourth episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains the basics of the labor market. Viewers will learn how the laws of supply and demand determine the wage and quantity of labor employed in various labor markets.
There are three interactive lessons in this course that introduce supply, demand, and market equilibrium. This course uses a fictitious chocolate market to help explain the concepts.
Use these slides to demonstrate the shifting tax burden and changes in tax revenue and deadweight loss when taxes are applied. Students have the opportunity to identify tax burden, revenue, and deadweight loss when elasticity of supply and demand change.
In the third episode of the Economic Lowdown Video Series, economic education specialist Scott Wolla explains the concept of equilibrium. Viewers will get a refresher on the laws of supply and demand before they learn about market equilibrium — the point at which there is no shortage or surplus of a good or service.
In the second episode of the Economic Lowdown Video Companion Series, economic education specialist Scott Wolla explains the concept of demand.
In Episode 10, young people who are looking for that first job can learn about the basics of the labor market in this country.