Dis(Equilibrium) — Who Sets Prices Anyway?

Overview:

This lesson uses students’ knowledge of supply and demand curves to explain equilibrium prices. Using the article “How About Free? The Price Point that Is Turning Industries on Their Heads,” students will consider what happens to markets when there is excess supply and excess demand. This lesson will also introduce students to the concepts of a price ceiling and a price floor.

NBEA Standard(s):
  • Economics, I. Allocation of Resources
  • Economics, IV. Markets and Prices

Lesson Plan Details:

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