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Economics Unit I - The Basics
Twelfth graders access how scarcity requires individuals and institutions to make choices about how to use available resources. They explore the characteristics of different economic systems and institutions. Student are able to describe...
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Opportunity Cost
Students review the concept of opportunity cost. Using a clip from a money, they identify the people who made a choice and the value of the choice given up. They read various scenarios about opportunity costs and trade-offs and make...
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Scarcity and Opportunity Cost - To Choose Is To Refuse
Young scholars are introduced to scarcity and opportunity costs. They discuss how different societies allocate their resources differently based on their needs. Illustrating trade offs, they create a production possibility frontier. They...
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Good Will - Three Chinese Stories
Students listen to The Seven Chinese Brothers and identify tall tale elements in it. They brainstorm ways they could help each other in school. They create a banner reflecting the style and art of Chinese decorations and clothing in the...
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What's In It For Me?
Students analyze the costs and benefits that are involved with owning a business. They create their own decision making grid and identify their trade-offs. They also identify the opportunity costs involved in owning their own business.
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The Berenstain Bears' Mad, Mad, Mad Toy Craze
Students use the book, The Berenstain Bears' Mad, Mad, Mad Toy Craze, to explore spending, collecting, opportunity cost, saving, and speculating.
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Opportunity Cost
Young scholars study what opportunity cost is and why it is important to their lives.
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Life in a Soviet Household
High schoolers simulate the transaction costs experienced by the average householder in the former Soviet Union. They consider time spent searching and waiting in line, scarcity of goods and the lure of the black market.
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Banking on the Future: Penny Drive
Students study why philanthropy is needed and learn to complete a penny drive. In this philanthropy lesson, students learn the need to invest money for future purposes and identify a cause in the community to hold a penny drive for.
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Decisions! Decisions! What Will I Do?
Students demonstrate formats of opportunity cost. Students illustrate this concept by choosing two pictures and analyzing them for color and cost. They write a short paper explaining their findings.
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Costs & Benefits
Learners reinforce the concept of the true costs being what is given up by doing something -- normally referred to as opportunity costs.
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Yard Sale
Pupils complete activities to discover spending, goods, services, price, advertising, choice, alternatives, criteria and opportunity cost.