Markets, Efficiency, and Price Signals: Crash Course Economics Video Analysis with Key- This is a 10 page document that contains a video analysis assignment and a completed teachers key for easy marking. It contains 28 questions based on The Crash Course Economics video: Markets, Efficiency, and Price Signals.
This assignment will ask students to go to YouTube and watch the Crash Course video: Markets, Efficiency, and Price Signals. The video will first introduce the topic of markets and compare the free market to the centrally planned market. Students will learn about the inefficiencies of a centrally planned economy and why nations like China and Cuba are moving away from central planning. Next, the video reviews productive efficiency and allocative efficiency. They will learn how the free market encourages both of these things and why they are both good for producers and consumers. Price signals are then covered, students will see how business use the market to tell them what to make. The example of the Apple IPad is used to show how it sent a signal to other producers to make tablets as well. Next, the video looks at price gouging (during times of disaster) and at predatory pricing(Walmart). The pros and cons of predatory pricing and the risks behind it are covered as is how consumers can force corporations to make more socially conscious business decisions.
This video analysis can be easily used as an introduction to the topic, a study guide, or a quick and easy sub plan. Students love the independence of this assignment by getting to use laptops, Chromebooks, or even their own cellphones to watch the video. Crash Course videos tend to move fast so students often find success if they watch the video through once before going back to pause/play to find the answers to all of the questions.