Related Capstone Lessons

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.

Concepts:

  • Choice
  • Incentive
  • Price
  • Benefit
  • Costs
  • Substitute
Standards:
  • 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.

Concepts:

  • Incentive
  • Benefit
  • Costs
  • Trade
Standards:
  • Standard #5: Trade

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