Unit 3: Lesson 15 - Why Do Some People Earn More Than Others? Students examine and discuss visuals to identify an economic mystery regarding differences in income. They use the Guide to Economic Reasoning to analyze the problem and reach a tentative solution. Concepts: - Choice
- Future Consequences
- Human Capital
- Incentive
- Opportunity Cost
- Voluntary Trade
Standards: - Standard #2: Decision Making
- Standard #3: Allocation
- Standard #4: Incentives
- Standard #5: Trade
- Standard #13: Income
- Standard #15: Economic Growth
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