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Lessons & Activities
1 Hour+
The Basics of Supply and Demand: A Classroom Cocoa Bean Market
OVERVIEW
This lesson teaches students about supply and demand through a cocoa bean market simulation where they negotiate prices as buyers and sellers over multiple trading rounds. Students learn to identify equilibrium price, explain how market interactions determine prices, and recognize conditions that create shortages and surpluses.
NOTE: Answer key is for middle school lesson plan only.
Related Resources
INFOGRAPHICS & COMICS
VIDEO Q&A
16-30 MIN
Aggregate Demand and Aggregate Supply: Negative Demand Shock
Introduces the benefits and costs of international trade.
MODULES
16-30 MIN
Market Equilibrium
Discuss market equilibrium.
READING Q&A
16-30 MIN
Why Are Some Social Media Sites Free to Use?
Learn why social media platforms are free and define network effect.
CURRICULUM UNITS
Federal Reserve Economic Fundamentals: Middle School Curriculum
Introduce basic economic concepts that are designed for middle school learners with ten independent hands-on lesson plans.
LESSONS & ACTIVITIES
46-60 MIN
Understanding Price Elasticity
Introduce elasticity to your students.
More in This Series
LESSONS & ACTIVITIES
1 HOUR+
PACED Pretzels
Learn about and apply the five-step PACED decision-making process.
LESSONS & ACTIVITIES
1 HOUR+
Exploring Careers in Economics
Learn about careers for people with backgrounds studying economics.
LESSONS & ACTIVITIES
16-30 MIN
Is Trade a Zero-Sum Game?
Demonstrate that voluntary trade can benefit buyers and sellers.
LESSONS & ACTIVITIES
46-60 MIN
Comparative Advantage: Trading Brownies and Pizza
Discover the benefits of trade.
LESSONS & ACTIVITIES
1 HOUR+
Circular Flow
Simulate the circular flow model and learn about economic relationships.
LESSONS & ACTIVITIES
16-30 MIN
The GDP Expenditures Equation: How Do We Measure It?
Learn about gross domestic product (GDP)
LESSONS & ACTIVITIES
0-15 MIN
How Do We Measure Unemployment?
Demonstrate how we calculate the civilian unemployment rate.
LESSONS & ACTIVITIES
16-30 MIN
Teaching About Money, Spending, & Inflation Using an Auction
Conduct two rounds of auctioning off the same goods with increasing money to demonstrate inflationary forces.
LESSONS & ACTIVITIES
1 HOUR+
The CPI Market Basket
Compare the price of goods and interpret the effects of inflation on consumers.
