Economics 6th-8th: Indicator #4

Students will develop economic reasoning to understand the historical development and current status of economic principles, institutions, and processes needed to be effective citizens, consumers, and workers participating in local communities, the nation, and the world.

 In the context of United States history through 1877, world history through the Middle Ages and in contemporary world geography, students are able to do everything required at earlier grades and are able to:

Analyze effects of supply and demand on the production, consumption, and distribution of goods and services.

An involved lesson on the concept of demand that actively engages students can be found at this site.
http://ecedweb.unomaha.edu/Dem_Sup/demand.htm
 

Another lesson on demand is available here.
http://www.fte.org/teachers/prize/lessons/less_demand.htm
 

An involved lesson on the concept of supply that actively engages students can be found at this site.
http://ecedweb.unomaha.edu/Dem_Sup/supply.htm
 

Definitions of the concepts of 'supply and demand' can be found starting at this site:
http://www.missouri.edu/~econ5ed/ch4/sld001.htm

This lesson, Rockefeller's Revenge: Exxon and Mobil Unite, from the New York Times' Daily Lesson Plan Web page examines the Exxon/Mobil merger. Focus of the lesson is on the market economic system and "decisions about production and distribution in a decentralized manner following ... self-interests."
http://www.nytimes.com/learning/teachers/lessons/981203thursday.html
 

The National Council on Economics Education content standard #1 is related to this indicator. This link provides the NCEE standard and additional information about the concepts of goods and services.
http://www.economicsamerica.org/standards/cs1.html

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