Supply and Demand Poster Project

Here’s the instruction sheet – be prepared to work with your groups on Friday! You can also download the instructions here.

 

Supply and Demand Notes

Here are some notes about the laws of supply and demand, and the factors that influence them (substitution effect, complementary goods, etc.). And here’s the guided notes worksheet we did in class.

 

Survivor: Scarcity Island

Grab your tiki torches and bandanas, ’cause it’s time for Survivor, Scarcity Island!

We officially kicked off our economics unit with an activity where the entire class was (hypothetically) lost on a remote island. We had to analyze what our resources were, and also anticipate what needs we would have.

This activity helped us define the main topic for the day: scarcity, or the problem of infinite human needs and wants, in a world of limited resources. During notes, we also talked about scarcity and the three key resources: natural, human, and capital.