Bringing It All Together: Using the concepts of scarcity, utility, opportunity costs and risk to manage a car dealership

Overview:

In this lesson, students will demonstrate their knowledge of scarcity, utility, opportunity costs and risk, by taking on the role of manager at a fictional car dealership. After reading the article “The Hard Sell: How to Market Products That Are No Longer Popular,” students will be given a specific dealership scenario. Based on their unique scenario, students will think about potential customers, their preferences and the risks of conducting business.

NBEA Standard(s):
  • Economics, I. Allocation of Resources
  • Personal Finance, I. Personal Decision Making

Lesson Plan Details:

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