Economics assumes people do not have the resources do satisfy all of their wants. Therefore, we must make choices about how to allocate those resources. We make decisions about how to spend our money and use our time. This lesson focuses on the idea that every choice involves a cost. Supply and Demand - This lesson allows for personal involvement in the concept of supply and demand which helps the students see how it relates to their everyday life.
Students produce badges as rewards for the best economists in class.
Other Web Sites - This page lists web sites offering a wealth of lesson plans for teaching economics, in addition to these lesson plans. Economic Role Call - Students participate in a game to identify six roles individuals have in our society. They learn that these roles are part of the economic system. In this lesson students participate in an activity to establish a demand schedule for a product. Inflation - In this lesson, students participate in two auction rounds to learn about inflation.