Student teams will work together both inside and outside the classroom to complete a “GooseChase” scavenger hunt.  Students will demonstrate mastery of the principles of supply and demand.

Students learn what the four factors of production are and work in small groups to categorize different factors of production for certain industries. Students consider topics, such as limited resources and scarcity.

In this lesson, students participate in activities that illustrate economic factors influencing the supply of and demand for forest products. Students first learn how veneer is produced and used. They create a circular flow market diagram, define economic terms, and interpret supply and demand graphs. Students work in small groups and use data tables and statistics to describe the general supply of and demand for forest resources in different regions of Wisconsin. They use graphs to further describe the supply and demand characteristics of the Midwest and United States. In summary, students compare and contrast the economies of different nations, analyze the relative cost of production in each, and work together to describe the economic relationship between Wisconsin’s forest resources and those of the rest of the world.

In this activity, students are asked to assess the effectiveness, fairness, and political appeal of two plans to reduce oil imports: increasing CAFE standards or a gasoline tax.

In this activity, students read an article and answer a series of questions. The article discusses the pivotal role price plays in a market economy.

Students gain an understanding of how the focus of supply and demand influence prices in a market economy.