Economics in the headlines
http://www.econedlink.org/lessons/index.cfm?lesson=EM317&page=teacher
A lesson plan for grades 11–12 Social Studies
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In this EconEdLink lesson, students will examine the factors that change supply and demand for products. They will see how changes in supply and demand affect prices and quantities sold. They will then analyze actual news stories to determine how changes in supply and demand affect prices and output in our economy. Included with this lesson is a printable student worksheet.
North Carolina Curriculum Alignment
Social Studies (2003)
Grade 11–12 — Economics
- Goal 1: The learner will demonstrate the role of economic choices within a market economy.
- Objective 1.02: Explain the condition of scarcity and relate the concept of scarcity to choice, opportunity costs, and tradeoffs.
- Goal 2: The learner will analyze the role that supply and demand, prices, and profits play in determining production and distribution in a market economy.
- Objective 2.01: Define supply and demand and identify factors that cause changes in market supply and demand.
- Objective 2.02: Explain the functions of supply and demand.
- Objective 2.03: Describe the role of producers and consumers in determining the equilibrium price.
- Goal 5: The learner will examine the various ways economic performance is measured.
- Objective 5.04: Identify the causes of inflation and analyze its impact on economic decisions.
- Objective 5.05: Assess how individual spending and production decisions impact levels of income, employment, and prices.
- Objective 5.06: Identify causes and effects of inflation, and analyze its impact on economic decisions.
