Economic Concepts in Product Production and Supply and Demand

Economic Concepts in Product Production and Supply and Demand
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20 KB|2 pages
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Product Description
Students choose a product and identify its factors of production. After creating a basic supply and demand curve for the product, students develop scenarios for shifts in supply and demand and illustrate the shifts in graphs. This project allows beginning high school econ students to grasp the more complicated concept of shifts in supply and demand. Other concepts included are diminishing marginal utility, demand elasticity, supply elasticity, and equilibrium.

A detailed teacher grading sheet is included.
Total Pages
2 pages
Answer Key
N/A
Teaching Duration
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