Overview: This lesson is provides a brief introduction to formal Economic theory. Using the article “Red Velvet Revolution: The Rise of the Cupcake Entrepreneur,” students will role play as small business owners in charge of a cupcake store. Students will make choices about location, inventory, equipment and sales. Throughout the lesson, students will think about economics as the study of choice under scarcity.
- Economics, I. Allocation of Resources
- Personal Finance, I. Personal Decision Making
Lesson Plan Details: