Unit 2: Lesson 11 - Do Prices Matter to Consumers?
This lesson demonstrates how people use prices when they weight expected costs and expected benefits in making economic decisions. It helps students see how choosing a second-best good or service can in some cases improve their overall well-being.
- Standard #1: Scarcity
- Standard #4: Incentives
- Standard #8: Role of Prices
Unit 7: Lesson 40 - Why Do People Trade Across National Borders?
This lesson involves students in a trading simulation that grows in complexity. Students use this experience to investigate the consequences of voluntary trade among individuals in increasingly larger groups.