AuctionLesson - Rockdale County High School Lesson Plan Title Economic Auction Stage One Desired Results Grade\/Subject\/Course 12th\/Economics Teacher D

AuctionLesson - Rockdale County High School Lesson Plan...

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Rockdale County High SchoolLesson Plan Stage One: Desired ResultsTitle: Economic AuctionGrade/Subject/Course: 12th/EconomicsDates:10/29/2010Main Concepts: 1.Supply and Demand2.InflationTeacher: D. PooleEstablished Goals: SSEMI2: The student will explain how the Law of Demand, the Law of Supply, prices and profits work to determine production and distribution in a market economy.a. define the law of supply and the law of demandb.describe the role of buyers and sellers in determining market clearing priced. explain how prices serve as incentives in a market economySSEMI3: The student will explain how markets, prices, and competition influence economic behavior.a. identify factors that cause changes in market supply and demandSSEMI4: The student will illustrate the means by which economic activity is measuredb. define inflationEnduring Understandings: Prices are determined by interaction of supply and demandMarkets change in response to multiple factorsAn increase in demand can lead to a rise in pricesWhen money no longer has a limited supply, the purchasing power will decrease and prices will riseEssential Questions:

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