Lesson Details

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

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