This task is an introductory activity for students who have little to no background in economics.
Students work in small groups to bid on hypothetical properties in a simulated auction.
Each auction has a different goal. Students are encouraged to discuss strategy, and also consider the impact of finance and competition on the prices gained for the properties.
This activity takes approximately 40-50 minutes, including time for discussion by students.
Two pages of detailed teaching notes are included to explain how to run the task effectively and scaffold answers for students.