Related Capstone Lessons

Unit 2: Lesson 10 - Equilibrium Prices and Equilibrium Quantities

In examining a visual about the market for yo-yos, students think through the process of mutual accommodation among buyers and sellers that results in an equilibrium price. Students then complete an activity plotting supply and demand curves in the market for Frisbees, identifying the equilibrium price and quantity under different conditions.

Concepts:

  • Demand
  • Equilibrium Price
  • Quantity Demanded
  • Quantity Supplied
  • Shortage
  • Supply
  • Surplus
Standards:
  • Standard #7: Markets and Prices
  • Standard #8: Role of Prices

Unit 2: Lesson 14 - Secondary Effects: Price Ceilings and Floors

Students investigate the consequences of price controls in markets for silver, rock concerts, automobiles, razor clams, and school textbooks. (It would be best to use this lesson after students have participated in the silver market game [Unit 2, Lesson 7]

Concepts:

  • Price
  • Shortage
  • Surplus
  • Secondary Effects
Standards:
  • Standard #7: Markets and Prices
  • Standard #8: Role of Prices

Close Window »

 

Copyright © 2017 Council for Economic Education. All rights reserved.