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This lesson highlights the resources needed for a business and key information entrepreneurs should consider before starting a business. Through the story and activities, students will learn about division of labor and identify risks and rewards.
Students work in small groups ("work crews") while participating in a production activity. Students learn about competition, division of labor, and incentives. They also demonstrate how division of labor and incentives help lead to greater productivity.
These mini lessons and materials include multi-discipline instruction and cultural components that can help students understand and celebrate the legacy of the Negro Leagues Baseball and how they transformed generations.
Consumers often measure whether they got a good deal on a purchase by the difference between the original price and a sales price. The bigger the difference is, the better the deal feels.
You may be doing all you can to prepare for the price of education after high school, but if your savings, grants, and scholarships aren’t quite enough, do not overlook student loans as a means to gaining the education you need to make the big bucks. In the October 2018 issue of Page One Economics: Focus on Finance, you will learn about student loan basics.
Child psychologists, parents and teachers have long debated the pros and cons of the money-for-grades issue. What are the costs and benefits of using incentives for grades?
In this lesson, students listen to the book Earth Day—Hooray! They learn how incentives change people’s behavior. In a classroom discussion of the story, students track the number of cans brought to school each day. Students evaluate scenarios to determine what behavior is being encouraged or discouraged and to identify whether the incentives are rewards or penalties.
This publication looks at how communication, coordination and cooperation interact to make free markets work. It provides an understanding of our economic system—one that encourages both individual freedom and social cooperation.