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 7 - A Silver Market

Students participate in a simulation activity that shows how a competitive market works. Although most markets for goods and services are not as competitive as the silver commodity market, the example helps students gain an understanding of how prices are set in any market.

Concepts:

  • Choice
  • Competition
  • Demand
  • Incentive
  • Markets
  • Supply
  • Consumer Surplus
  • Producer Surplus
  • Consume
Standards:
  • Standard #4: Incentives
  • Standard #7: Markets and Prices

Unit 2: Lesson 8 - A Picture Is Worth a Thousand Words: Demand

This lesson asks students to analyze the relationship between changing prices and changes in consumer behavior, to create and understand the demand schedule graph, and to identify how various determinants of demand change the relative location of the demand schedule.

Concepts:

  • Demand
  • Price
  • Determinants of Demand
Standards:
  • Standard #4: Incentives
  • Standard #8: Role of Prices

Unit 7: Lesson 42 - Foreign Currencies and Foreign Exchange

Students participate in a simulated foreign exchange market. The exercise provides an opportunity for students to use supply and demand analysis to explain how flexible exchange rates are established in currency markets.

Concepts:

  • Demand
  • Exchange
  • Supply
  • Foreign Exchange Market
Standards:
  • Standard #5: Trade

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