Professional Development for Educators
Our goal: equip and empower educators to incorporate economic and financial concepts in their courses. Access webinars, data and resources to help meet your classroom needs.
Curricula and Multimedia Resources
Culturally Responsive Lessons
Tap into these resources to incorporate lessons and activities that are culturally responsive to a wide range of students.
Entrepreneurship
Help empower students to consider entrepreneurship among their future options.
Career Prep
Help students prepare for college, careers and life with these lessons, activities, and infographics.
Federal Reserve Education
Want more resources? Search lesson plans and resources for educators from every Reserve Bank.
Historical Publications and Lessons
Dig into the history of the Federal Reserve with our free books and share with students using the associated lessons.
Children's Literature Lessons
Use these lessons to improve literacy skills and reinforce economics, career prep, a personal finance concepts.
Economic Vocabulary
Fifty Nifty Econ Cards
Fifty Nifty Econ Cards are designed for elementary and middle school students to assist them in developing a knowledge base of economic and personal finance words.
Core Concept Cards
Core Concept Cards provide a strong foundation of economic and personal finance vocabulary for secondary students.
Key Educational Resources
Jay Starts a Business
This interactive story takes 4-6 grade students into the world of entrepreneurship by helping them start their own business.
The Money Circle
These lesson plans for high school students focus on four concepts related to money, from the history of money to its use in their own life and our economy.
Videos and Webinars
Evening with the Fed
Educators are invited to hear from our economists on current topics and events - from climate change to Covid-19.
Elementary and Middle School Webinars
Access on-demand professional development webinars made just for elementary and middle school teachers.
Webinars for High School Educators
Learn about new resources and information to help equip your high school classroom.
Career Education Webinars
Learn about skill building and opportunity occupations for students to consider for success on their chosen career path.
Resource Compilations
Common Cents
- Five resolutions to help kids start the new year with financial awareness |
- Common Cents: Increase Your Money Smart IQ
- Common Cents: Oh Where, Oh Where Has Our Work Ethic Gone?
- Common Cents: A Financial Picture is Worth a Thousand Words
- Common Cents: It's Free, But at What Cost?
- Common Cents: Watch and Learn: Kids' Money Attitude Often Models Parents'
Bite Size Economics
Currency is printed at the Bureau of Engraving and Printing (in Washington, DC or Fort Worth, TX) and then shipped to the Federal Reserve for distribution to local banks when needed. Find these locations and the Federal Reserve office closest to you on a U.S. map.
Bite Size Economics
Compare the prices of store-brand items you need (milk, soap, clothing, etc.) versus the name-brands you want. Are the name brand items worth the price? Give reasons to back your opinion.
Bite Size Economics
Introduce the three types of resources, giving examples of each:Natural - gifts of nature used to make goods and services;Human - workers who make goods and provide services;Capital - goods made and used to provide other goods and services.Hand out magazines and have students find pictures of each type of resource. Use images to create a class resource poster with three columns labeled for the different resource types.
Bite Size Economics
Are you wise about credit? Learn about developing good credit by reading the Kansas City Fed's Common Cents article "Laying the foundation for responsible credit use." Take theGet a Credit Clue quiz to see if you are credit card worthy. http://bit.ly/11Dsm65
Bite Size Economics
Explain the wisdom of this quote: "If you lend someone $20, and never see that person again, it was probably worth it."
Bite Size Economics
Brainstorm types of financial emergencies (car break-downs, medical problems, home repairs, etc.). Discuss why it is important to have an emergency fund for unexpected expenses.
Bite Size Economics
Divide students into two teams. Hold up pictures of natural, human and capital resources and take turns asking teams to identify the type of resource each is. Teams score points for correct answers.
Bite Size Economics
Draw a cartoon about a time when you experienced either a buyer's high or buyer's remorse after a purchase. In the panels, show the purchase, how the purchase made you feel and what you might do differently in the future.
Bite Size Economics
Stores often have a surplus of holiday candy after Halloween and Valentine's Day. What methods do store managers use to quickly sell their surplus? (half-price sales; special display) Describe three new and creative ways to reduce this surplus.
Bite Size Economics
Trade barriers are costs that raise the price of traded products. Examples are tariffs, import and export quotas, and embargoes. In groups, research and make charts to compare and contrast these barriers.
Bite Size Economics
Look up the current national budget deficit at www.brillig.com/debt_clock. Consider methods to reduce the deficit, and write a letter to Congress with recommendations.
Bite Size Economics
Debate the importance of producers using social media, such as Facebook, YouTube and Twitter, to get the attention of consumers in order to sell their products.
Bite Size Economics
Read The Goat in the Rug by Charles Blook and Martin Link. Use the children's literature lesson to discuss the topic of resources in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/GoatintheRug.pdf
Bite Size Economics
Introduce the first two principles: People choose and people's choices involve costs. Explain that opportunity cost is a person's second-best choice that is given up when the first choice is made. Ask students to give examples of choices they make during a school day, such as lunch and recess options, and name the cost and benefits of each choice.
Bite Size Economics
Read Scraps of Time 1960s: Abby Takes a Stand by Patricia C. McKissak. Use the children's literature lesson to learn about how taxes fund transfer programs such as Head Start and Medicaid: www.stlouisfed.org/education_resources/assets/lesson_plans/Scraps_of_time.pdf
Bite Size Economics
Create a trophy that could be awarded as a classroom incentive for the best singer, athlete or leader in the group.
Bite Size Economics
Develop a budget for a classic picnic. Use grocery ads to plan a meal for 20 students that includes an entrêe, two sides and a dessert, for $50 or less
Bite Size Economics
Why are federal laws necessary to protect the civil rights of consumers?
Bite Size Economics
Watch the Economic Lowdown video on demand at: www.stlouisfed.org/education_resources/podcasts/economic_lowdown_video_2.cfm. Take notes on the six ways demand can change, giving an example for each. Create and present a skit showing the effects of supply and demand on the purchase of the newest cell phone, tablet or electronic device.
Bite Size Economics
Read Meet Kit: An American Girl by Valerie Tripp. Use the children's literature lesson from the St. Louis Fed to role play the effect that unemployment and reduced spending can have onpeople's lives during a recession. http://bit.ly/12Bxppn
Bite Size Economics
Read the original Federal Reserve Act, signed Dec. 23, 1913. Write down four key facts about the founding of the Federal Reserve System from the primary source document, available from the Librarians' Society of Washington, D.C. http://bit.ly/18qbUEL.
Bite Size Economics
Cut magazine or catalog pictures of natural, human and capital resources and place them randomly into paper bags. Divide students into groups and give each group a resource bag. Ask them to create a new business using their resources and share how each resource is used within their business to produce a product.
Bite Size Economics
Write a short essay explaining the reasoning for tariffs on imports to the United States.
Bite Size Economics
Learn about online banking by becoming a quiz show participant in the Kansas City Fed's role play To Pay the Price. http://bit.ly/ZT730u
Bite Size Economics
Discuss how this quote relates to entrepreneurship: "Wanting something is not enough. You must hunger for it. Your motivation must be absolutely compelling in order to overcome the obstacles that will invariably come your way." - Les Brown
Bite Size Economics
How did the settlement pattern of the United States influence the location decisions for Federal Reserve Banks?
Bite Size Economics
While watching TV commercials within a given time period, identify how many of the products advertised are wants and how many advertised are needs. Using your results, calculate the percentage of each and report to the class.
Bite Size Economics
Place a variety of job titles with their associated incomes in a hat and then place an assortment of typical monthly expenses in another hat. Draw one job and income and five monthly expenses. Determine if the income exceeds the monthly expenses.
Bite Size Economics
Take turns pantomiming workers performing service type jobs, such as bus driver, construction worker, chef, etc. Have the class try to guess which services are being acted out.
Bite Size Economics
Write a haiku on the importance of paying yourself first.
Bite Size Economics
Discuss this quote: "A man with a surplus can control circumstances, but a man without a surplus is controlled by them, and often has no opportunity to exercise judgment." - Marshall Field
Bite Size Economics
Introduce the concepts of profit and loss. Organize a classroom business selling a food or craft product. Have students figure the cost of materials (expenses); create the products; and decide on a selling price (income) to make a profit. Invite another class to view and buy the products using fake money. After the sale, have students figure the class profit/loss based onthis formula: total income - total expenses = profit.
Bite Size Economics
Introduce the first three principles, discussing incentives as things that influence the behavior of people. Discuss the concepts of opportunity cost and monetary cost. Provide the following scenario: You are trying to decide whether to start college right after graduation or wait and work for a year before enrolling. Create a table listing the opportunity costs and monetary costs, as well as the benefits of both choices. Make your final decision and explain your reasoning.
Bite Size Economics
Discuss this quote: "The only thing we have to fear is fear itself". - Franklin D. Roosevelt. How could these words relate to bank panics?
Bite Size Economics
Explore bank supervision and regulation by watching Chapter 6 of the Philadelphia Fed's video The Federal Reserve and You. Write three key facts about each of the video segments: Supervision and Regulation History, the Role of Congress, and Bank Examinations.http://bit.ly/11dWBdQ
Bite Size Economics
Play 20 Econ Questions or Econ Word Wiz (www.federalreserveeducation.org/resources/fiftynifty) using "producer" as one of the words.
Bite Size Economics
Read Bunny Money by Rosemary Wells. Use the children's literature lesson to discuss the topic of short and long-term savings goals: www.kansascityfed.org/publicat/education/teachingresources/Bunny-Money-Lesson-Plan.pdf.
Bite Size Economics
Read The Pickle Patch Bathtub by Frances Kennedy. Use the St. Louis Fed's children's literature lesson to discuss the topic of developing a plan to achieve your savings goal: http://bit.ly/12LedV1
Bite Size Economics
Gas prices are $3.29 a gallon and then increase to $3.69 a gallon due to a shortage. How much would 18 gallons of gas cost at each price? ($59.22; $66.42) How much would you save if you purchased gas at the lower price? ($7.20)
Bite Size Economics
Read Ten Mile Day by Mary Ann Fraser. Use the children's literature lesson to discuss the role of production in the development of the transcontinental railroad: www.stlouisfed.org/education_resources/assets/lesson_plans/TenMileDay.pdf
Bite Size Economics
Before Harry Truman became the 33rd president, he was a Kansas City entrepreneur in which business? A) Finance B) Newspaper C) Clothing. Answer: C) He ran a business that tailored men's clothing.
Bite Size Economics
Choose a product and research the price of that product during a 10-year period. Graph the changes over time and discuss possible reasons for those changes, such as the increasing priceof materials, a better quality product, inflation, etc.
Bite Size Economics
Why have other countries adopted mobile payments faster than the United States? Find out in the Atlanta Fed's podcast The Future of Mobile Payments. Write a description of a mobile payment option you think would work best in United States. http://bit.ly/11YTIOu
Bite Size Economics
Choose a job and research its income in two different countries. (Example: a starting teacher in Mexico is paid $10,465 a year, while a starting teacher in Canada is paid $35,400 a year.) Discuss why the same job can have different salary levels in different countries.
Bite Size Economics
Make a chart comparing the costs of a new sports car and a used compact car. Figure the expenses for each car, including loan payment, fuel and insurance. If transportation to your job is a need, which car is the better choice?
Bite Size Economics
Discuss fixed budget expenses (costs that remain the same) and variable expenses (costs that change). Write and perform a skit about college students living on campus who deal with these expenses.
Bite Size Economics
How do students buy their goods and services? How many shop online versus going to brick-and-mortar stores? Discuss the use of shopping apps and how they help in comparing prices. Do students ever use apps to comparison shop?
Bite Size Economics
Weather conditions can create shortages. Work with a partner to make a list of hardware and department store items that might be in short supply during a snowstorm. (snow blowers, shovels, gloves, hats, etc.). Pantomime the use of each item for the class to guess.
Bite Size Economics
Why is money deducted from your paycheck and where does it go? Learn how to read a paystub, discuss different methods for receiving wages, and discover ways to get more from your paycheck with the Kansas City Fed's Putting Your Paycheck to Work resources. http://bit.ly/17nFIa0
Bite Size Economics
You have opened a new video game store and hired five full-time employees. If starting salaries are $8.50 an hour and all employees work a 40-hour week, how much should you budget for employee salaries weekly? ($1,700)
Bite Size Economics
Read Supermarket by Kathleen Krull. Use the children's literature lesson to discuss how technology has changed markets: www.stlouisfed.org/education_resources/assets/lesson_plans/supermarket.pdf
Bite Size Economics
Discuss the meaning of the following quote: "Budget: a mathematical confirmation of your suspicions." - A.A. Latime
Bite Size Economics
Draw a cartoon to portray one of the following label instructions found on consumer goods: hairdryer-never use while sleeping; iron-do not iron clothes on body; child's costume-cape does not enable user to fly.
Bite Size Economics
If a company's losses are much greater than its profits, the owners might consider filing for bankruptcy. Research the concept of bankruptcy and write an essay describing the advantages and disadvantages.
Bite Size Economics
How will paying for goods and services change in the future? Invent and illustrate a new method of payment for the year 2025. Label invention parts and write a brief explanation telling how to use your payment method.
Bite Size Economics
Ask students to compose a story about becoming an entrepreneur, including the name and type of their new business and a description of the capital and human resources they'd need.
Bite Size Economics
The interest on your savings account has increased from 1% to 2.5%. How much interest would your $100 deposit earn in a year (without compounding) at each percentage? ($1; $2.50) Explain how receiving interest can be an incentive to save.
Bite Size Economics
North Dakota's oil surplus has led to a low unemployment rate and a state budget surplus. Research North Dakota's boom and write an essay about whether or not you would be interested in moving to the state under current circumstances.
Bite Size Economics
Bank XYZ is examined and scored every year to make sure it is following banking rules as a safe and sound place for your money. The last four scores were 3, 2, 2 and 1. What is the average score of Bank XYZ? (Answer: 2)
Bite Size Economics
Introduce taxes by asking what happens on April 15. Discuss that one of the purposes of income taxes is to pay for public goods (such as parks and roads) and public services (such as police, fire and military workers). Ask students to imagine what would happen if the government didn't use tax money to provide these goods and services. Have them draw a picture of a situation where a lack of public goods or services caused a problem.
Bite Size Economics
Discuss the importance of the following quote to those who run their own business: "In the business world, the rearview mirror is always clearer than the windshield." - Warren Buffett
Bite Size Economics
Develop a chart listing 10 tips that will help the environment through protecting natural resources. (Example: Pick up litter along trails and waterways.)
Bite Size Economics
Before buying clothes or shoes, consumers should consider several features, such as price, quality, fit, style and comfort. Discuss and rank these features with students to see which ones are most important to them in making a purchasing decision.
Bite Size Economics
Introduce the following formula: Assets-Liabilities = Net Worth, or your economic wealth. Use Money Circle Theme 3, Lesson 1 found at: www.federalreserveeducation.org/resources/MoneyCircle. Discuss the assets, liabilities and net worth of the student in the Activity 1 story. Ask students to write a similar story about themselves, listing current assets, liabilities and assessing their net worth.
Bite Size Economics
Find auto loan 36-month interest rates for a used car from three banks. Record the rates and any additional fees or conditions from each bank. Discuss which bank you would choose to finance your car loan and give reasons why.
Bite Size Economics
Become a board member of a Federal Reserve Bank and learn about the Fed's grassroots approach to gathering regional economic information in the Atlanta Fed's simulation Monetary Policy Starts in Your Own Backyard. http://bit.ly/ZNti2r
Bite Size Economics
Set up a classroom market where students can experience the buying and selling of goods and services by using the "Math: Paying the Price: activity from the Nifty Fifty Econ Cards website: www.federalreserveeducation.org/resources/fiftynifty
Bite Size Economics
Choose a publicly-traded company, such as Amazon (AMZN), and follow the price of that company's stock each week for a month. Report whether the price has increased or decreased during that time, and provide a recommendation on buying the stock.
Bite Size Economics
Play a game of musical chairs or a game where there is not enough gym equipment for all players. Discuss how the lack of chairs or equipment makes the game more difficult. Scarcity forces us to make choices or decisions.
Bite Size Economics
Research Mattel, Hasbro or other toy companies to see how they determine what toys to produce and supply to retail stores. Use the information you find to predict what toys might be popular in 2020.
Bite Size Economics
Two friends set up a lemonade stand, charging 75 cents for two glasses sold. They lowered their price to 60 cents, selling four glasses. Their final price of 50 cents sold six glasses. Create a demand graph that shows this information. What was the twins' total revenue? ($6.90)
Bite Size Economics
Introduce the definitions for save and spend. Describe short-term savings goals as items students want that will require saving for several months. Ask students to choose an item as a savings goal, estimate the cost of the item and figure the amount they would have to save weekly to reach their goal. Have students share their goals and savings plans with the class.
Bite Size Economics
Another name for the Bank Panic of 1907 was the Knickerbocker Crisis.
Bite Size Economics
Political cartoons show opinions. Look at the cartoons featured throughout the Kansas City Fed's Balance of Power, Under Pressure, or Integrity, Fairness and Resolve books. Create an original political cartoon related to the Federal Reserve and explain your message.http://bit.ly/11CEUqr
Bite Size Economics
Learn what happens when the price of an asset becomes artificially high in Recession Lesson: Asset Bubbles, available at: www.kansascityfed.org/publicat/education/teachingresources/RecessionLesson-AssetBubbles.pdf.
Bite Size Economics
Calculate the monetary costs and benefits of running a lemonade stand using the following assumptions: mix that makes 32-oz. of lemonade costs $3 per container and a package of 50 8-oz. cups is $5. You sell 48 8-oz. cups for $2 each. (costs=$44, benefits=$96)
Bite Size Economics
Discuss what Thomas Jefferson meant when he said, "The merchant has no country."
Bite Size Economics
Just who was Salmon Chase and why was he on a $10,000 banknote? Explore the American Currency Exhibit: www.frbsf.org/education/teacher-resources/american-currency-exhibit/showcase-of-bills to learn how our country's history is reflected on our currency.
Bite Size Economics
Discuss this quote: "Expenditures rise to meet income." - C. Northcote Parkinson
Bite Size Economics
Your credit card company sets your minimum payment at 2% of your balance. If you have a $1,000 balance on your credit card, what will your minimum payment be? (answer: $20). (Keep in mind, if you only pay the minimum balance most of your payment goestoward interest.)
Bite Size Economics
If U.S. exports to China are worth $8 billion, and U.S. imports from China are worth $34 billion, what is the total trade amount? ($42 billion) What is the trade deficit? ($26 billion)
Bite Size Economics
Read Free Enterprise: The Economics of Cooperation, available at www.dallasfed.org/educate/classroom.cfm, to learn about the role of businesses in a free-enterprise system.
Bite Size Economics
Depositors want their banks to be "safe and sound." Draw a picture illustrating what these two words mean to you. Discuss what might happen if a bank was not a safe and sound business.
Bite Size Economics
Learn about entrepreneurs and economic growth through the Kansas City Fed's lesson Do I Have What it Takes to be an Entrepreneur - and is my Community Ready? Calculate the breadth and depth of entrepreneurship in your county, and discuss if your area is ready to encourage more growth. http://bit.ly/12DHl1H
Bite Size Economics
Trivia: U.S. household and nonprofit organizations' liabilities, which include mortgages, consumer credit, loans and securities, totaled almost $14 billion in 2010.
Bite Size Economics
Draw a picture that shows farmers trading equipment, crops or labor with each other. Explain how this trade situation helps farmers and their families.
Bite Size Economics
Why is there a lag time between the beginning of a recessionary period and when it is officially declared a recession? Answer this discussion question and more with the Kansas City Fed's Teaching Tips: Recessions 101. http://bit.ly/11ML6M3
Bite Size Economics
Learn why the regional structure of the Federal Reserve System is important to understanding the economic conditions in all regions of the country in the Atlanta Fed's video The Fed Explains Regional Banks. http://bit.ly/14A3ASh
Bite Size Economics
Create an invention or innovation that would make life easier. Name and describe your invention. What price would you sell it for? What would your income be if you sold 100? 250? 500?
Bite Size Economics
Research the meaning of marginal cost and marginal benefit. Businesses think on the margin, deciding whether the benefit of producing one more unit would be greater than or less than the cost. Share an example of this marginal cost/benefit situation from your research.
Bite Size Economics
What does Penny Pigeon learn about saving and building assets? Read the Financial Fable Penny Pigeon and the Missing Nest Egg to find out at: http://www.kansascityfed.org/education/fables/index.cfm.
Bite Size Economics
Consumers can pay for purchases by using cash, checks, debit or credit cards. Use the lesson and role play for "Payment Parliament": www.kansascityfed.org/education to introduce these different forms of payments to students.
Bite Size Economics
Visit a local bank or credit union and ask for some deposit slips. Use addition and subtraction and place value to practice filling out the slips
Bite Size Economics
Read Saturday Sancocho by Leyla Torres. Use the children's literature lesson to discuss the topic of bartering as a form of trade: www.stlouisfed.org/education_resources/assets/lesson_plans/SaturdaySancocho.pdf
Bite Size Economics
Create a map of the Federal Reserve System following the directions from the St. Louis Fed's 25 Cents Worth of History. Locate your state and outline it in your favorite color. Which Federal Reserve Bank is closest to where you live? http:/bit.ly/103kPqV
Bite Size Economics
What three federal agencies regulate banks? (Office of the Comptroller of the Currency-OCC; Federal Deposit Insurance Corporation-FDIC; and the Federal Reserve)
Bite Size Economics
Talk about the choices and opportunity costs of school cafeteria lunches with students. Compare the entrêe, salad, sandwich and other choices for the day. What final choice did they make? What was their opportunity cost? Continue each day for a week and have students graph individual and class choices and opportunity costs.
Bite Size Economics
Use the FDIC's EDIE the Estimator tool to explore how FDIC insurance protects depositors. Try the simulator using varying deposit balances to determine the FDIC coverage limit for a single account. Check your answer by reviewing the page's Deposit Insurance FAQs. http://1.usa.gov/YVeeTe
Bite Size Economics
View a short clip depicting a bank run from the movie, It's a Wonderful Life. Describe in a paragraph or two how depositors make poor decisions when they fear their bank is failing.
Bite Size Economics
Imagine you are at a college football game. Brainstorm the different goods and services available in the stadium. What resources were required to create those goods and services?
Bite Size Economics
Trivia: The Federal Reserve Act was signed by President Woodrow Wilson in 1913. The average annual income that year was $800.
Bite Size Economics
Design a trophy celebrating an important export from your state and explain your choice and reasoning with the class.
Bite Size Economics
Read Uncle Jed's Barbershop by Margaree King Mitchell. Use the children's literature lesson to discuss starting a business at: www.stlouisfed.org/education_resources/assets/lesson_plans/UncleJedsBarbershop.pdf.
Bite Size Economics
Research the new Credit Card Accountability, Responsibility and Disclosure Act (CARD Act) at: www.federalreserve.gov/consumerinfo/wyntk_creditcardrules.htm. What rule targets underage consumers? Discuss the advantages and disadvantages of this rule for college students.
Bite Size Economics
If U.S. exports to China are worth $8 billion, and U.S. imports from China are worth $34 billion, what is the total trade amount? ($42 billion) What is the trade deficit? ($26 billion)
Bite Size Economics
Explore money from around the world by visiting the following website: www.clevelandfed.org/Learning_Center/Online_Activities/explore_money/index.cfm. Discuss money symbols and designs from several chosen countries, then vote for the most beautiful piece of currency. Ask students to redesign a U.S. dollar using more symbolism and color.
Bite Size Economics
Discuss this proverb: "It is a wise man who lives with money in the bank, it is a fool who dies that way."
Bite Size Economics
Read Earth Day-Hooray! by Stuart Murphy. Use the children's literature lesson to discuss the topic of incentives in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/EarthDayHooray.pdf
Bite Size Economics
Bring white elephant items from home (with a parent's signed note). After having an opportunity to trade items, explain the benefits of the trades made. Does everyone agree the trades were positive? If not, why not?
Bite Size Economics
You are a producer of a new and unique athletic shoe. Develop a poster or commercial to advertise your amazing shoe.
Bite Size Economics
Research the World Trade Organization (WTO) at: www.wto.org/english/thewto_e/whatis_e/whatis_e.htm. What is the goal of the WTO? List three benefits of the WTO trading system.
Bite Size Economics
Use the lesson plan "Currency and the Fed" to introduce students to the functions of money and the Federal Reserve System: www.stlouisfed.org/education/assets/lesson_plans/Currency&Fed.pdf. Ask students to write a brief newspaper article on how money is handled by the Federal Reserve.
Bite Size Economics
After assigning classroom jobs (i.e. line leader, paper passer, etc.), provide students with the opportunity to trade jobs with others. After trading is completed, discuss the students' reasons for their trades, making a list of the costs and benefits of each job during the discussion.
Bite Size Economics
Look closely at a one-dollar bill. What symbols and words do you see that connect this bill with the Federal Reserve?
Bite Size Economics
Discuss with students how they make daily decisions, selecting one choice and giving up a second as an opportunity cost. Have them draw two locations for their next birthday party, make a final decision, and label one "my choice" and the other "my opportunity cost."
Bite Size Economics
Track expenses for a week and then create a spending plan to make sure your expenses don't exceed your income.
Bite Size Economics
How do students buy their goods and services? How many shop online versus going to brick-and-mortar stores? Discuss the use of shopping apps and how they help in comparing prices. Do students ever use apps to comparison shop?
Bite Size Economics
Watch Katrina's Classroom from the Atlanta Fed to understand how natural disasters can affect banking services. Write a creative story about leaving your home due to a natural disaster and the steps you would take to be financially stable during this time.http://bit.ly/14C0lYK
Bite Size Economics
Visit the Federal Reserve Board of Governor's website to find tips for improving your credit score. Make a poster to share this information with your classmates. http://1.usa.gov/140Qjnb
Bite Size Economics
Discuss homecoming expense choices and opportunity costs. For example, with a limited amount of money, would you choose a fancy limo for transportation? Would you spend more money for a high-dollar outfit instead? Or would you spend your dollars on an expensive restaurant meal before the dance? Discuss the reasoning behind your decisions.
Bite Size Economics
Introduce counterfeit money ("fake currency") as the major reason bills have been redesigned. Look at a real note online: www.newmoney.gov/currency/20.htm. Identify security measures placed on new U.S. currency including color, watermarks and micro-printing.
Bite Size Economics
Choose one principle from the Guide to Economic Reasoning and illustrate it using an everyday life situation. (Example: People gain when they trade voluntarily - a picture of a student trading a food item with another student at lunch.)
Bite Size Economics
Ask students to imagine they have landed on a deserted island and will be living there until they are rescued. Have them work in pairs to develop two lists: one of their daily needs to survive, and the other of their wants while on the island. Share lists and discuss ideas with the class.
Bite Size Economics
Download the spreadsheet showing GDP percent change from the preceding period from the Bureau of Economic Analysis (BEA). Identify years of large GDP growth, such as 1942.Discuss events, government policies or production factors that may have caused this growth. http://1.usa.gov/165pfU5
Bite Size Economics
Assume the identity of a superhero or a credit villain in the Kansas City Fed's role play Professor Finance and Fed Boy Meet the Catastrophe Clan to learn about the use and misuse of credit and how the CARD Act protects consumers. http://bit.ly/13jzWzX
Bite Size Economics
A crayon factory increases its production in the months before school starts each year. If the factory produces 2,000 boxes of crayons in each five-day week for 12 weeks, how many total boxes are manufactured? (2,000 x 5=10,000 x 12=120,000)
Bite Size Economics
Use the limerick below to introduce surpluses and shortages. Ask students to make up their own poem about surpluses and shortages to share. There once was a price just too high,So that no one would bother to buy.On the shelf the stuff sat,Gathered dust like a floor mat.A surplus needs a lower price-that's why! And then there was a price oh so low,That folks stood in a long line, oh no!But the shelves were soon bare,Those still waiting sure cared.A higher price would have solvedtheir shortage woes.
Bite Size Economics
Which is the better milk buy? one gallon for $2.49; 1/2 gallon for $1.29; or one quart for $.69? (One gallon at $2.49)
Bite Size Economics
Ask students to choose a class business that might be successful in their school, such as a craft, food or entertainment business. Create a business plan, including the following: resources needed, production process, product display, advertising, pricing and labor schedule. Present the plan to your principal for approval.
Bite Size Economics
Explain why the United States, Canada and Mexico all gain from voluntary trade among their countries.
Bite Size Economics
The Philadelphia Fed's video The Federal Reserve and You features 70 short segments about the Fed, money and banking. Watch the first chapter for an overview of the Federal ReserveSystem. http://bit.ly/11dWbdQ
Bite Size Economics
How can pocket money make someone a millionaire? Use anonline compound interest calculator to see how a small monthlyinvestment can grow over time by compounding. Write a plan toreach a financial goal using compound interest.
Bite Size Economics
Invite a small business owner to speak to the class. Ask students to prepare interview questions about the assets and liabilities most business owners have and ways to increase thenet worth of a business.
Bite Size Economics
Use a blank outline of your state to map your city and the major communities surrounding it. Draw images to represent the businesses and industries that are important in your region, such as a cow for agriculture or a truck for transportation.
Bite Size Economics
Estimate the cost: If you want to buy an item for $9.50 with a 9% sales tax, is $10 enough money?
Bite Size Economics
Without international trade, you may not have the items on your back. Ask students to look at the labels on their clothing and accessories, and list the countries that manufactured the items. Create a class graph showing all of the countries represented and compare label totals. Discuss whether clothing and goods made in the U.S. are a prevalent as they once were.
Bite Size Economics
Discuss the fable of the Grasshopper and the Ant and its "saving for the future" moral. Rewrite the fable using human characters to make the spending and savings decisions.
Bite Size Economics
Ask students to keep a financial journal, writing down what they spendand save for 30 days. They should keep track of the amount they spendin one column and the amount they save in another column. At the endof the 30 days, ask them to total the amounts of each column and figurethe percentage of money they spent and the percentage they saved.
Bite Size Economics
Your school had a pancake breakfast to raise funds for the sports teams. Expenses included paying for food and set-up costs, which were $949. The number of dinners sold was 275 at $6.00 each. What was the total income from the event? What was the profit after expenses? ($1650; $701)
Bite Size Economics
Research the purposes of the World Trade Organization (WTO). Hold a mock debate where two countries use the WTO as a forum to discuss their disagreements concerning a trade policy.
Bite Size Economics
Explore the evolvement of the payment system by watching Chapter 5 of the Philadelphia Fed's video The Federal Reserve and You. Create a public service announcement highlighting the Fed's role in providing cash and electronic payment services. http://bit.ly/11dWBdQ
Bite Size Economics
Resource Trivia: What two fabric resources are used to make paper currency? (linen - 25%; cotton - 75%)
Bite Size Economics
The class has been earning incentive points towards a party since the beginning of the year. They've earned 576 points in 8 weeks. What was the average number of points earned each week? How many more points do they need to reach their 1000 point goal?
Bite Size Economics
Your credit report is like a report card. It is used to calculate your credit score. You can receive one free credit report every twelve months from each of the nationwide credit bureaus-Equifax, Experian, and Transunion-by visiting www.annualcreditreport.com.
Bite Size Economics
Read Pickle Patch Bath Tub by Frances Kennedy. Use the children's literature lesson to discuss the topic of income in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/PicklepatchBathTub.pdf
Bite Size Economics
Investment Math: Introduce the "Rule of 72" as a method to determine the number of years it will take for your savings to double in value. Give this example: if the interest rate is 2%, dividing 72 by 2=36 years to double your savings. Ask students to figure out the number of years for 4% (18); 6% (12); and 8% (9).
Bite Size Economics
Food shortages occur throughout the world due to disasters, war and population increases. Research how the United States helps at: http://foodaid.org/resources/the-history-of-food-aid/. Create a visual illustrating how these food programs enable countries to become more self-sufficient.
Bite Size Economics
Ask students to design the "Market of the Future" by drawing a blueprint of their dream store. Have them include basic food departments and cashier areas, and then add original areas to make their market unique.
Bite Size Economics
Trivia: Eldercare services are predicted to be one of the most profitable business opportunities in 2012-2013 due to a boom in the elderly population and longer overall life spans.
Bite Size Economics
Many entrepreneurs get their start through designing an invention or innovation that becomes successful. Research famous inventors by looking at: www.ideafinder.com/articles/thelists/entrepreneur.htm. As a group, vote on the top three inventors based on their creativity and success.
Bite Size Economics
Read Little House in the Big Woods by Laura Ingalls Wilder to learn about factors of production, which can lead to economic growth. Draw a flow chart that shows the inputs (productive resources) necessary to create chocolate chip cookies (outputs). http://bit.ly/120lmuN
Bite Size Economics
A class of 28 students earned popsicles. The teacher bought 2 boxes of popsicles, with 12 in each box. How many more popsicles does the teacher need to avoid a scarcity in her classroom? (4 more)
Bite Size Economics
What's your money personality? Are you a saver, avoider, spender, giver or worrier? Find out by taking the Money Make-up quiz at the end of the Kansas City Fed's Common Cents article "Watch and Learn". http://bit.ly/1923cSJ
Bite Size Economics
Review your monthly family budget to determine how much your family spends on wants vs. needs. Discuss how your family might reduce the dollar amount of wants over the next few months. Report your budget-saving measures to the class.
Bite Size Economics
Discuss the difference between fixed expenses (those costs that do not change) and variable expenses (those costs that can change). Ask students to interview a parent to discover what fixed and variable expenses they pay monthly. Report findings to the class.
Bite Size Economics
Introduce the topic of credit and discuss the responsibilities of credit use. Discuss the rule of thumb that credit should not be used for purchase of basic needs (such as groceries, utilities and rent). Make two lists of goods and services. Include items that are good purchases to make with credit on one list, and on the other list detail items you do NOT want to purchase using credit.
Bite Size Economics
Explain this quote: "Competition is not only the basis of protection to the consumer, but is the incentive to progress." - Herbert Hoover
Bite Size Economics
Explain a market economy as an economy that operates by voluntary exchange between buyers and sellers in a free market not planned or controlled by government. Ask students to research this and other types, such as traditional and command economies: http://www.councilforeconed.org/resources/lessons/whateconisabout-sample.pdf. Discuss the differences in the three economies and why a market economy works best in our country.
Bite Size Economics
Watch the Economic Lowdown video on supply at: http://www.stlouisfed.org/education_resources/economic-lowdown-video-companion-series/episode-1-supply/. Draw and explain the basic supply curve shown in the video. Howcan this curve change based on market conditions?
Bite Size Economics
Use the Fifty Nifty Card Teacher Resource Guide's "Word of the Week" activity to integrate the concept of scarcity into reading, language and art: www.federalreserveeducation.org/resources/fiftynifty
Bite Size Economics
Introduce stocks as shares of ownership in a company. Ask students to choose a company they are familiar with and follow its stock price online or in a newspaper. Have them record the closing stock price each Friday for a month. Ask them to give a presentation with the following information: the weekly profit/loss from shares purchased (subtractclosing prices from one week to the next); and the monthly profit/loss (subtract week one from four).
Bite Size Economics
Discuss this quote: "As scarce as truth is, the supply has always been in excess of the demand." - Josh Billings
Bite Size Economics
Calculate this profit/loss stock statement: 100 shares of XYZ Electronics bought at $29 each + $1.50 broker fee ($2901.50); 100 shares sold at $35 each - $1.50 broker fee ($3498.50); ($3498.50-$2901.50 = $597 profit).
Bite Size Economics
Currency is produced by the Bureau of Engraving and Printing, located in Washington, D.C. and Fort Worth, Texas. Look at the new $100 bill at www.newmoney.gov/currency/default.htm. Examine the interactive $100 note and take the quiz on its features.
Bite Size Economics
Introduce the concepts of producers and consumers. Brainstorm a list of producers, such as artists, bakers, farmers and manufacturers of different products. Ask students to role-play various producers as they create their products. Have classmates guess what good or service each producer provides for consumers.
Bite Size Economics
Explore myths and realities about the Fed using primary source materials in the Atlanta Fed's lesson Myths, Tall Tales, and Urban Legends: A Lesson on the Facts Behind the Fed. http://bit.ly/YeYn1k
Bite Size Economics
Would you want to bank at an unregulated bank? Give a two-minute oral presentation explaining your position.
Bite Size Economics
Create a consumer profile, such as a 20-year-old college athlete, and make a collage of products or services using newspaper, magazine ads and/or computer-generated images that would appeal to that type of consumer.
Bite Size Economics
Add together all the bill denominations currently in circulation. What is your dollar total? ($1+$2+$5+$10+$20+$50+$100=$188)
Bite Size Economics
Write and perform a skit that explores the concept of fair trade, which aims to help producers in developing countries receive higher prices for their goods and improve social and environmental standards. Include advantages and disadvantages to fair trade policies.
Bite Size Economics
You have saved enough money to buy your first computer! Which is the better buy: a laptop for $599, a case for $29, and a mouse for $19; or a desktop monitor for $149, a computer tower for $469, and a keyboard with mouse for $39? (laptop package=$647; desktop package=$657)
Bite Size Economics
Use the school cafeteria as an example of a business that provides goods and services. Tell students that goods are things that satisfy wants, such as food and utensils. Services are activities that satisfy wants, such as cooking the food and cleaning the cafeteria. Ask students to draw cafeteria foods or other goods on one side of art paper and activities or services on the other side.
Bite Size Economics
Brainstorms items of value that people invest in, such as real estate, gold, art, coins and jewelry. Ask students to write an essay discussing whether they think these options are better investment areas than the stock market and give their reasons for their opinions.
Bite Size Economics
Use the Recession Lesson "Navigating the Fear of the Unknown" (http://kansascityfed.org/publicat/education/teachingresources/RecessionLesson-EconomicUncertainty.pdf) to learn about the role that economic uncertainty played during the recent recession for businesses and consumers.
Bite Size Economics
Just for fun, try saying this tongue twister quickly three times: Skyler scored the scarce scholarship.
Bite Size Economics
Why do bank panics often lead to recessions or larger financial upheavals?
Bite Size Economics
The Bureau of Engraving and Printing produces currency daily to avoid a scarcity of money. How many bills are produced in a day? A) 3,500 B) 350,000 C) 3.5 million D) 35 million Answer: (D)
Bite Size Economics
If a company produced 10 items at $7 per item and sold all 10 at $8.50 each, what is the profit for the producer? (10 x $1.50 = $15)
Bite Size Economics
Cut out or draw pictures of three of your top wants. Estimate how much they cost and determine a budget or way to save for these items. Present your wants and savings plan to the class.
Bite Size Economics
Using your local newspaper, find three advertisements for products. List examples of marketing techniques that producers use to entice customers to buy their products, suchas bargain prices or use of brand names. Share your results.
Bite Size Economics
Discuss the meaning of this quote: "Henry Ford was right. A prosperous economy requires that workers be able to buy the products they produce. This is as true in a global economy as a national one." - John J. Sweeney
Bite Size Economics
Make a collage of magazine ads that would appeal to consumers urging them to save money, possibly by living greener.
Bite Size Economics
Learn about federal income taxes, FICA, W-4 and W-2 forms in Know your dough Lesson Two: "W" is for Wages, W-4 and W-2: www.stlouisfed.org/education_resources/assets/lesson_plans/paycheck/IYP_lesson2.pdf.
Bite Size Economics
Is a home an asset or liability? Research this question and then draw an illustration to explain what you learned and whether you think a house is an asset or liability.
Bite Size Economics
The Fed is the lender of last resort to financial institutions. Watch Federal Reserve Chairman Ben Bernanke explain this role in lecture one of The Federal Reserve and the Financial Crisis. Draw a political cartoon illustrating how the Fed might assist banks during a financialpanic. http://1.usa.gov/12Txk0q
Bite Size Economics
When a company wants to increase their profit, they can reduce their costs (expenses) or increase their sales (income). You are the owner of a new sushi restaurant. Describe two ways to increase your sales and two ways to reduce costs.
Bite Size Economics
Develop a role play about an entrepreneur whose ideas for a new product or business are not well accepted and how he/she meets these challenges and eventually becomes successful. Perform the role play for your class.
Bite Size Economics
Wants and needs may vary depending on culture. Research wants and needs around the world and compare and contrast them with your own community.
Bite Size Economics
Review the story of the Three Little Pigs. Do a cost/benefit analysis to compare their houses of straw, sticks and bricks in terms of materials, labor, cost and effectiveness.
Bite Size Economics
Many supermarkets have non-food services such as floral departments, pharmacies, banks, dry cleaning and DVD rentals. Why do you think supermarkets offer these additional services?
Bite Size Economics
Would you accept a cow as payment? Learn about the four characteristics of money and evaluate various forms of money, including cows, that were used as currency in earlier times by reviewing Kansas City Fed's lesson Early Forms of Money. http://bit.ly/1a8sTip
Bite Size Economics
What can happen when a person or organization doesn't face all the consequences of their actions? Learn about moral hazard and the role it played during the recent recession and financial crisis in the Kansas City Fed's Recession Lesson: Moral Hazard. http://bit.ly/11JIFss
Bite Size Economics
Play "Econ Bingo" after reading directions, downloading bingo cards and sample money from the Fifty Nifty Econ Cards website: www.federalreserveeducation.org/resources/fiftynifty. Award $5 of money for each bingo during the game. Let winning students use their income to purchase incentives you have supplied.
Bite Size Economics
Write and perform a skit that tells the story of how banking may have begun. Read the Boston Fed's Banking Basics for one description of the world's first lenders as a reference.http://bit.ly/11ksT7e
Bite Size Economics
Look at a dime and identify the portrait. Use the lesson plan, "Why is Roosevelt on the Dime" available at: http://www.usmint.gov/kids/teachers/lessonplans/viewLP.cfm?id=29 to learn more about Franklin Roosevelt and why he was chosen for the dime.
Bite Size Economics
Brainstorm the skills and knowledge that will be needed in the future to work as a bank teller. Write a job posting that might be used by a local bank describing the characteristics that banks will be looking for when hiring tellers.
Bite Size Economics
Make a list of incentives that would persuade you to complete the task of cleaning your bedroom from top to bottom. Which of these incentives would your parents agree to?
Bite Size Economics
Debate the pros and cons of using money as an incentive for getting higher grades. Is this a good practice? Will this encourage students to work harder for grades?
Bite Size Economics
Introduce the concepts of imports and exports. Learn the top three imports and exports of your state by visiting: www.census.gov/foreigntrade/statistics/state/data/index.html. Discuss possible reasons why these resources made the top of the list. Choose a neighboring state and do the same research. Create two Venn diagrams comparing both states' imports and exports.
Bite Size Economics
Use the lesson plan and role play "Professor Finance and Fed Boy Meet the Catastrophe Clan" to discuss the uses and misuses of credit: http://kansascityfed.org/publicat/education/teachingresources/fed_boy_lesson_plan.pdf
Bite Size Economics
Discuss this quote: "Don't put all your eggs in one basket," and relate it to diversifying, or having a variety, of stock investments. Why is diversification a good strategy?
Bite Size Economics
Examine samples of foreign currency by going to: www.clevelandfed.org/Learning_Center/Online_Activities/explore_money/index.cfm. Compare bill features for three chosen countries. How are these notes similar? How are they different? What are some basic features that are common to all currency studied?
Bite Size Economics
Use the Kansas City Fed's Teaching Tips: Is Your Bank Account Safe? to learn what happens when a bank fails and how the FDIC steps in following a bank's closing. Make a brochure that explains why money is well-protected in U.S. banks. http://kansascityfed.org/education/foreducators/high-school/teaching-tips/is-your-bank-safe.cfm
Bite Size Economics
Discuss counterfeit currency and how it has become more prevalent in the U.S. over the years due to technological advancements. Explain how security measures have been added to U.S. bills to thwart counterfeiters, and look at some of these features at: www.newmoney.gov/currency/default.htm. Ask a speaker from a bank to speak to the class on detecting counterfeit currency.
Bite Size Economics
Discuss that many economic scenarios can cause either a shortage or surplus of used cars. Ask students to brainstorm situations where a used car shortage might develop and where a used car surplus might develop. If you were a used car dealer, what would you do to avoid a large surplus or shortage?
Bite Size Economics
How do high levels of employment affect economic growth?
Bite Size Economics
What key historical events led to the establishment of the Federal Reserve System?
Bite Size Economics
Determine which economic principle relates best to the following quote, and then explain its meaning: "I'm talking about economics as forecasting the future. If you own auto stocks, you ought to be very interested in used car prices." - Peter Lynch
Bite Size Economics
Write a short story about your last five purchases and whether each was a want or a need. Include lessons you've learned about your spending habits and steps you can take in the future to purchase fewer wants and more needs.
Bite Size Economics
When you deposit a $5 bill in the bank, will you ever see that exact $5 bill again? Draw a comic strip that shows what happens to the bill that you deposit.
Bite Size Economics
In professional sports, a trade is a sports league transaction involving and exchange of players' contracts and/or draft picks. Have students research a sports trade in the NBA. Ask them to write a summary of the trade deal, including the advantages and disadvantages for the teams and/or players involved.
Bite Size Economics
As entrepreneurs invent new products, they often make former products obsolete, or out of date and no longer used. An example of this would be the typewriter, which is now rare because of computer word processing. This concept is called "creative destruction." Ask students to brainstorm and discuss other examples of creative destruction due to new inventions.
Bite Size Economics
Write an essay on the topic of rebates as incentives for consumers when they purchase goods and services, such as electronics, cars, etc. Do you think rebates motivate people to spend more? Why or why not?
Bite Size Economics
Research your Federal Reserve Bank or Branch Board of Directors members, including the industries and states they represent. Write a short essay explaining why each board member's input is important to understanding the regional economy.
Bite Size Economics
Draw a picture showing how a scarcity of natural resources can affect your daily life.
Bite Size Economics
Consumer trivia: What is phishing? (a scam where internet fraudsters send spam or pop-up messages to lure personal information from unsuspecting victims.) Why should consumers be aware of this scam?
Bite Size Economics
Brainstorm a class list of typical weekly expenses and add the estimated costs. Find ways to cut expenses and add the new estimated costs. Subtract the new total from the original one to discover how much money can now be saved.
Bite Size Economics
Taylor purchased candy bars from the store at 50 cents each. She wants to sell them at school after lunch for $1 each. From what you've learned about supply and demand, what advice would you give Taylor regarding her price?
Bite Size Economics
Invite a bank manager to visit as a guest speaker. Create interview questions that ask about the education, skills and responsibilities that are needed for his/her position.
Bite Size Economics
Discuss famous entrepreneurs that students are familiar with, such as Bill Gates, Oprah Winfrey, Walt Disney and J.K. Rowling. Look at: www.thelittlee.com/html/famous_entrepreneurs.html and ask students to choose one entrepreneur they are impressed with to research and share with the class.
Bite Size Economics
Create a PACED (Problem, Alternatives, Criteria, Evaluate, Decision) grid to determine the costs and benefits of a used car decision. Possible criteria include model; year; gas mileage; and insurance costs. Visit www.econedlink.org/lessons/docs_lessons/463_PACED1.pdf for a sample grid.
Bite Size Economics
Play the online game Pursuit: On the Trail of Economic Growth from the Boston Fed with a small group or individually. This game traces the economic growth of New England throughout history. What events shaped the growth of this area? http://bit.ly/190VJ2L
Bite Size Economics
There was no uniform currency during the Free Banking Era, so state-regulated banks issued their own banknotes. Brainstorm problems that could develop with many different currencies in circulation throughout the United States.
Bite Size Economics
Choose a food product and ask students to brainstorm all of the natural, human and capital resources used to produce it. (For example: a candy bar - cacao beans, land, sun, water, sugar, milk, farmers, factory workers, assembly line, wrapper, etc.) Ask students to draw pictures or work together on a mural showing the production process.
Bite Size Economics
Research and record the population of five different cities or communities within your region. Develop a bar graph to compare the population results. Discuss how the population of an area can affect its economy, in terms of jobs and housing.
Bite Size Economics
Introduce the stock market as a market in which the public buys and sells stock, or shares of ownership in companies. Brainstorm companies that students are familiar with (such as McDonalds, Nike, Toys R Us, etc.) and ask students to nominate the five best choices for stock purchases. Discuss the reasons for their picks.
Bite Size Economics
Visit the National Archives website to learn about the Homestead Act of 1862, which offered free land in the west to anyone over 21 if they agreed to farm it. Create a skit about the act and its effects on economic growth during that time. http://1.usa.gov/13v9G5v
Bite Size Economics
Introduce the concepts of supply and demand. Give students play money and set out items for sale such as pencils, erasers and stickers. Set some prices low to encourage sales and others higher to discourage buyers. Let students shop, and then discuss the demand for the products at various prices.
Bite Size Economics
Read Uncle Jed's Barbershop by Margaree King Mitchell. Use the children's literature lesson to discuss the challenges of entrepreneurship: www.stlouisfed.org/education_resources/assets/lesson_plans/UncleJedsBarbershop.pdf.
Bite Size Economics
Discuss the word "panic" and brainstorm situations in which people may panic (severe weather, accidents, fire, etc.) How do you feel when you panic? Why could these feelings cause you to take actions you normally wouldn't? Relate these feelings to bank panics.
Bite Size Economics
Visit www.bos.frb.org/entertainment to play the online game Show Business: The Economics of Entertainment and learn about economics in the entertainment industry.
Bite Size Economics
Invite someone in sales to speak about the skills necessary to be a successful salesperson.
Bite Size Economics
Display items manufactured by different countries, such as electronics, food products and clothing. Ask students to list the manufacturing country of each good. Have them locate these countries on a large blank world map, using one dot per manufactured good. Discuss reasons why some countries may have more dots than others.
Bite Size Economics
The launch of the Air Jordan retro basketball shoe sale caused long lines, fights and store closings across the United States. Discuss the concepts of supply and demand in this situation. Ask students to give reasons why these shoes sold out, even though their retail price was $180 a pair.
Bite Size Economics
Discuss this quote: "No one has a greater asset for his business than a man's pride in his work." - Hosea Ballou
Bite Size Economics
Go to the following website to learn about McDonald's: http://www.aboutmcdonalds.com/mcd/our_company/mcd_history.html. Look through the timeline and share three risks the company took as it became an established business.
Bite Size Economics
Read Isabel's Car Wash by Sheila Bair and Judy Stead. Discuss how Isabel started her car wash with help from investors, who became part owners with her. Did the car wash earn a profit or show a loss in the story?
Bite Size Economics
Use the role play There's No Business Like Bank Business toexplore the benefits of saving money in a bank:www.kansascityfed.org/publicat/education/teachingresources/Bank_Business_script.pdf.
Bite Size Economics
Introduce the concept of market clearing price: where buyers and sellers agree on a price to reflect supply and demand; also called an equilibrium price. Discuss the market clearing prices (MCP) of tickets to a concert. What can you assume if the concert is sold out? (MCP is too low.) If few tickets are sold? (MCP is too high.) If you were a concert promoter, what criteria would you use to set ticket prices?
Bite Size Economics
Have students list all the extra-curricular activities they could participate in for the first semester, including sports, clubs and competitions. Discuss that scarcity of time forces them to choose between several activities they may be interested in.
Bite Size Economics
What could happen to the price of gasoline if demand increases worldwide? Will prices increase or decrease? What could happen to the price if new oil pipelines add to the supply of gasoline? Will prices increase or decrease?
Bite Size Economics
Share pictures of different careers, and challenge students to analyze the costs and benefits of working in each career. Have them research information on salaries, education levels, work environment and job outlook by going to: www.bls.gov/oco/ooh_index.htm. Ask them to make a table listing this information for five careers, and then decide which career provides the most benefits and the least costs.
Bite Size Economics
Discuss the meaning of this scarcity quote: "There is no scarcity of opportunity to make a living at what you love; there's only a scarcity of resolve to make it happen." - Wayne Dyer
Bite Size Economics
What does money mean to you? Purchasing power? Security? Freedom? Brainstorm ideas and then create a collage showing what money can represent.
Bite Size Economics
Which is greater: $1 million, or a penny that doubles in value for 30 days? Use a calculator to figure out the compound interest of the doubling penny by taking each new total and multiplying by 2 to double. (The final total for the doubling penny is $5,368,709.12)
Bite Size Economics
Explain that smart consumers are aware of how advertising affects them, how to protect their information, and how to spot scams. Practice these skills by going to: www.ftc.gov/youarehere to visit a virtual mall and make smart financial decisions.
Bite Size Economics
Use the above activity to develop small group businesses with four to five students. Each group should decide on their product, follow the production steps and sell the products to classmates using fake money. Students may choose to incorporate marketing techniques to increase sales. Groups should give a final business report, noting profit/loss, to the class.
Bite Size Economics
Discuss that not all organizations are required to pay taxes to the government. These include schools, churches and not-for-profit groups, such as scouts, animal protection agencies and charities. Ask the class for reasons why these organizations are tax-exempt and whether they think this is fair to everyone else. Have students write a letter to the school newspaper explaining their opinion.
Bite Size Economics
Read the book Alexander Who Used to be Rich Last Saturday to introduce saving money. Start with Alexander's dollar on the board and subtract the amount of his purchases throughout the story. Discuss Alexander's spending decisions.
Bite Size Economics
Imagine your school district does not have enough money in its budget to provide all the services necessary to run your local schools. Assuming the role of the president of the school board, brainstorm a list of all the benefits of a tax increase. Then consider the perspective of a taxpayer against the increase and make a list of the monetary costs. Use the lists for a classroom debate on the topic.
Bite Size Economics
Create a map of the neighborhood surrounding the school. Have students add the names of businesses in that area to the map, as well as what good or service they sell. Ask students to suggest other businesses that would complement those already in the neighborhood.
Bite Size Economics
Make up a rap about regretting a buying decision (buyer's remorse) and wishing you had purchased your opportunity cost instead. Perform it for the class.
Bite Size Economics
Discuss the meaning of this quote: "Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs." - Herbert Hoover
Bite Size Economics
Research the United States' top 15 trading partners by going to: www.census.gov/foreign-trade/statistics/highlights/topcurmon.html. Create a bar chart that shows three things: U.S. total trade with its top 15 trading partners, U.S. exports with its top 15 trading partners; and U.S. imports with its top 15 trading partners. Discuss the graph and what it shows about U.S. trade.
Bite Size Economics
Use actual coins to show that quarters are 1/4 of a dollar, dimes are 1/10 of a dollar, nickels are 1/20, and pennies are 1/100. Use coins to add fractions to see if you have enough money to pay for sample small items.
Bite Size Economics
After discussing entrepreneurship, ask students to interview an entrepreneur in their community. Interview questions could include: describing their business; explaining how they financed their venture; discussing any challenges in their business; and describing a typical work day. Share completed interviews with the class.
Bite Size Economics
Use the Kansas City Fed's Exploring Economic Sectors lesson to learn how the Federal Reserve assesses economic conditions in the United States. http://bit.ly/13mAbfu
Bite Size Economics
Discuss this quote: "When written in Chinese, the word �crisis' is composed of two characters. One represents danger and the other represents opportunity." - John Kennedy
Bite Size Economics
Check out the Kansas City Fed's Financial Fables ebooks to discover how "money morals" can help students from preschool to fifth grade become money smart. http://bit.ly/11OINYK
Bite Size Economics
Debate this topic: "The benefits of making financial mistakes outweigh the costs."
Bite Size Economics
Compare the unit price, or cost per item, of products. To find unit price, divide the price by the number of pieces, ounces or pounds. What would be the unit price for a 20 pound bag of dog food priced at $15? ($.75 per pound)
Bite Size Economics
Discuss investing in a savings account to earn interest (payment made for the use of your money). Show how interest is compounded. For example: $100x5% annual interest = $105 in a year 1; $105x5% annual interest = $110.25 in year 2; $110.25x5% annual interest = $115.76 in year 3. Ask students to use calculators to figure the savings account totals in years 4 and 5. (Year 4 = $121.55; Year 5 = $127.63)
Bite Size Economics
Discuss what economists mean when they say, "There is no such thing as a free lunch." How does this quotation relate to costs and benefits?
Bite Size Economics
Discuss the exchange rate of currency as the ratio at which a unit of currency in one country can be exchanged for that of another country. Research the exchange rate for bills from five countries by going to: www.xe.com and using the exchange rate calculator. Which notes were worth more than the American dollar? Which were worth less? Why do you think one country's currency is valued higher than another?
Bite Size Economics
Discuss Halloween and the practice of "trick-or-treating." Would this holiday be as much fun if the incentive of candy wasn't given out to trick or treaters? Would you still want to "trick-or-treat?" The "treat" can influence the behavior of kids. Take a survey to decide which type of treat is the best incentive: chocolate bars, fruit-flavored candy, gum and other choices.
Bite Size Economics
Discuss opportunity costs in buying school supplies with students. What backpack choices did they make, and what designs were their second choices? Did they consider mechanical pencils vs. regular pencils? Did they choose markers or crayons? Talk about how they made their decisions.
Bite Size Economics
Learn how a bank operates as a business in the Kansas City Fed's There's No Business like Bank Business activity. http://bit.ly/150sooC
Bite Size Economics
Become better informed about payment cards from the Philadelphia Fed's resource What You Need to Know about Payment Cards. Design a poster showing the advantages and disadvantages of the three main types of payment cards. http://bit.ly/18D0HGm
Bite Size Economics
The Federal Deposit Insurance Corporation, or FDIC, insures bank accounts up to $250,000 per account holder. What part of $1,000,000 is $250,000? (answer: one fourth or 25%)
Bite Size Economics
In preparation for homecoming, identify what is needed for the event. Then divide the list of items into goods and services. Rank the list in order of importance to you. What goods and services could you give up if you were on a limited budget?
Bite Size Economics
Ask students to name restaurants they have visited. Tell them to think of all the goods and services that a restaurant is expected to provide. Make a list of these items and ask students to write a creative story titled, “Starting My Restaurant Business” that uses these ideas.
Bite Size Economics
What is the value of the largest note ever printed? ($100,000) Which president was on the bill? (Woodrow Wilson)
Bite Size Economics
Nominate a president or famous person in U.S. history (no longer living) for a new $500 bill. Write an essay describing how your nominee contributed to American history and why he/she would be a worthy candidate.
Bite Size Economics
What innovations and technological advancements have changed the U.S. payments system in the last 30 years?
Bite Size Economics
Discuss the fact that $5, $10, $20, $50 and $100 bills have all been redesigned by the Treasury and will be updated again in the future. What is the incentive for our government to do this redesigning?
Bite Size Economics
Read The Panic of 1907 by the Boston Fed. Write a skit titled "We Survived the Bank Panic," describing the thoughts and emotions that people may feel as they wait in line to withdraw money before their bank closes for business. http://bit.ly/1840vMy
Bite Size Economics
Discuss the correlation between a country's resources and what goods they export and import. Have students choose countries, research their major resources, exports and imports, and share their findings. Discuss which countries might make good trading partners.
Bite Size Economics
In a classroom mini-economy where everyone has a designated income, have the government (the teacher) set tax rates during different periods to illustrate progressive, proportional and regressive taxes.
Bite Size Economics
The following statements are common descriptions of credit. Discuss each example and use one as a topic for a creative story.Credit is your reputation for financial responsibility.Credit is the time allowed for payment for something sold on trust.Credit is a source of revenue for financial institutions.Credit is NOT more money; it is "tomorrow's" money.
Bite Size Economics
Read Something from Nothing by Phoebe Gilman. Use the children's literature lesson to discuss the topic of opportunity cost in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/SomethingNothing.pdf
Bite Size Economics
Follow the lesson plan for "Abraham Lincoln and the Five-Dollar Note" to learn why Lincoln is portrayed on this note and the features of the redesigned $5 bill: www.stlouisfed.org/education_resources/assets/lesson_plans/Lincoln$5Note.pdf.
Bite Size Economics
Why does it matter that the recent recession coincided with a financial crisis? Research from the Kansas City Fed that examined banking crises in Spain, Norway, Finland, Sweden andJapan found that when a recession is combined with a financial crisis unemployment increases are unusually severe and persistent. http://bit.ly/11m62Nt
Bite Size Economics
Certificates of deposit (CDs) are accounts that earn interest at a fixed rate over a set of time period and include penalties for withdrawing money early. Ask students to research interest rates of CDs at local banks. Make a class list of the best rates for each of the following CDs: 6 months; 12 months; 24 months; 36 months. Discuss why banks and credit unions pay higher rates for longer terms. Ask students if they would invest in a CD and why.
Bite Size Economics
Starting your own business as an entrepreneur has opportunity for profit and possibility of loss. Brainstorm a list of potential businesses to start and then list possible profits and losses for one of those businesses. Debate whether the business risks are worth the rewards.
Bite Size Economics
Ask students to inventory their personal assets and liabilities and develop a graphic organizer with their results. Have them rate their personal financial situation as great, okay or needing improvement. Tell them to write three goals for their financial health in the next year.
Bite Size Economics
Summarize the tale of Little Red Riding Hood. What was the cost of Little Red ignoring her mother's advice on her way to Grandmother's house? What would have been the benefit ifshe had listened?
Bite Size Economics
Discuss this quote: "The strongest bank in the United States will last only as long as people have sufficient confidence in it to keep their money there." - Carter G. Woodson
Bite Size Economics
Carl Sandburg once said, "Money is power, freedom, a cushion, the root of all evil, the sum of all blessings." Discuss how money could be explained in each of these different ways.
Bite Size Economics
Introduce the Federal Trade Commission's Bureau of Consumer Protection as our nation's consumer protection agency. Its job is to prevent fraud, deception and unfair business practices. Have students research the seven divisions of this agency by going to: www.ftc.gov/bcp/about.shtm. Discuss the importance of each division to consumers.
Bite Size Economics
Learn about market equilibrium, or the point at which there is no shortage or surplus of a good or service, by watching the third episode of the Economic Lowdown Video Companion Series at: www.stlouisfed.org/education_resources/video_podcasts.cfm.
Bite Size Economics
Create a collage using magazine pictures of items you'd like to purchase in the future. Narrow your choices to two favorites. What would your final choice/opportunity cost be?
Bite Size Economics
Write and perform a skit showing the impact of incentives on changing poor cafeteria behavior.
Bite Size Economics
Introduce the importance of weekly budgeting. Ask the class to use spending journals to track their purchases for a week. After journals are completed, students should share results for a class list of typical purchases and costs. Have students use the list to create a graph showing the areas where most purchases were made. Discuss ways to cut back on common buys to stay within their budgets.
Bite Size Economics
Research three universities you may want to attend. Evaluate each one using a decision grid with these criteria: size, location, fields of study and tuition cost.
Bite Size Economics
Discuss how commercials influence what consumers buy. Ask students to give examples of commercials that convinced them to buy a product. Were they happy or disappointed with the purchases? Tell them to give reasons for their answers.
Bite Size Economics
Draw pictures that represent financial words and write the definitions of the words on the opposite side. Save these financial flashcards to use for review. Suggested words: bank, save, deposit, withdrawal, interest, emergency fund, short-term goal, long-term goal.
Bite Size Economics
Jay Eagle from the Kansas City Fed is flying throughout the Tenth District. Learn more about Jay and how to have him visit your classroom at jay.kcfed.org.
Bite Size Economics
Imagine two people: one who has access to credit, and one who does not. Discuss the advantages of having access to credit and the barriers of non-access to credit and how it might shape each individual's future as his or her life unfolds.
Bite Size Economics
Learn more about the importance of credit score by watching "The Drawing Board: your Credit Score" http://www.youtube.com/watch?v=DWa34pB3pQA&feature=player_embedded.
Bite Size Economics
The mission of the Consumer Financial Protection Bureau (CFPB) is to make markets for consumer financial products and services, such as banking and credit, work for Americans. Research the CFPB at: www.consumerfinance.gov/regulations. Choose a regulation and share whether or not you think it is beneficial for businesses as well as consumers.
Bite Size Economics
Play "Another Action Hero" in Show Business: The Economic$ of Entertainment at www.bos.frb.org/entertainment/index.htm to learn what the film industry can teach about international trade and globalization.
Bite Size Economics
The start-up costs for your lemonade business includes $1.99 for the mix and $2.50 for the cups. If you sell each cup for $.60, how many cups do you need to sell to make a profit? (At least 8 cups.)
Bite Size Economics
Discuss the resources used in the production of chocolate (cocoa beans, sugar, milk) and the producers of each resource. Ask students to choose any product, make a list of resources used in its production, and count the number of producers involved in the process. Can anyone find a product that has more than five producers?
Bite Size Economics
Create a rap or song titled, "Invest in Yourself." Include all the ways to invest in your human capital, such as more education, training and practicing to gain experience, and taking care of your health. Perform your verses for the class.
Bite Size Economics
Discuss the costs and benefits, both monetary and nonmonetary, of having a public school system. Research what it costs taxpayers per year for a student to attend public school, using your state department of education website. What are the benefits of public education? Arethere any costs? What are the benefits to taxpayers that make themwilling to share the costs? Write a brief essay explaining your ideas.
Bite Size Economics
Through a story and activities, Piggy Bank Primer introduces students to economic concepts such as saving and budgeting: http://www.stlouisfed.org/education_resources/assets/lesson_plans/piggy_bank_primer/StudentSavingBudgeting.pdf.
Bite Size Economics
Research the household savings rates of several different countries. Make a chart comparing the rates. Which country's rate is the highest? What are some possible reasons for this?
Bite Size Economics
Use Lesson 2: "W Is for Wages, W4 and W2" at www.stlouisfed.org/education_resources/assets/lesson_plans/paycheck/IYP_lesson2.pdf to learn about gross pay, net pay and the different deductions that are taken from paychecks.
Bite Size Economics
Discuss the topic of behavioral incentives and teens. Ask students which types of incentives work best to keep teens in line: extending curfew; car privileges; more computer/video game time; increasing allowance/funds. Tell students to give reasons for their choices.
Bite Size Economics
Discuss the meaning of this quote: "A wise man should have money in his head, but not in his heart." - Jonathan Swift
Bite Size Economics
Discuss this quote: "Information is the currency of democracy." - Thomas Jefferson
Bite Size Economics
Introduce and discuss the characteristics of an entrepreneur, such as being a risk taker; having high energy; being competitive; having a strong desire to be your own boss; and possessing a "never quit" attitude. Ask students to rank themselves "+" or "-" on each of these characteristics to assess their own potential for entrepreneurship.
Bite Size Economics
Introduce the first two principles and the concept of opportunity cost (see above). Ask students to imagine they are trying to decide if they want to try out for a sports team. Have them list the costs and benefits of playing on a team. After comparing the costs with the benefits, have each student make a final choice and explain their decision.
Bite Size Economics
Work in pairs to design a new and improved ATM for 2020. Make posters to highlight services and features that might be available in the future. As a class, vote on the best future design.
Bite Size Economics
The launch of the Air Jordan retro basketball shoe sale caused long lines, fights and store closings across the United States Discuss the concepts of supply and demand in this situation. Ask students to give reasons why these shoes sold out, even though their retail price was $180 a pair.
Bite Size Economics
Discuss the growing threat of identity theft. Ask students to write tips for consumers to follow in keeping their identity safe. (Example: Memorize your Social Security number so you won't need to carry your card with you.)
Bite Size Economics
You have two possible babysitting jobs for Saturday - one watching 6-year-old twins for four hours at $3 an hour, and one with two kids, ages 1 and 3, for four hours at $4 an hour. How much would you earn from each job? What would your choice/opportunity cost be?
Bite Size Economics
Write about a situation where a scarcity of food, money or time caused a problem, and how that problem was solved.
Bite Size Economics
Discuss the stock market as a public place to invest dollars in stocks, or shares of ownership in a company. Go to: www.essortment.com/invest-money-mutual-funds-stocks-17734.html to learn about stocks vs. mutual funds. Which type of stock would you invest in? Give reasons for your answers.
Bite Size Economics
Review the credit scenarios from the Dallas Fed's Building Wealth in the Classroom, Lesson 9. Choose one and decide whether the teen described should borrow money. Write a short persuasive essay with reasons to support your answer. http://bit.ly/10IsJHM
Bite Size Economics
Choose a country and list the natural, human and capital resources available in that geographic area. Create a business producing a good or service that uses those available resources.
Bite Size Economics
If you had to choose a president for a new $200 bill, which choice would you select and which would be your opportunity cost? A) John Kennedy or B) Franklin Roosevelt. Have students discuss why they made their choice.
Bite Size Economics
Look at a map of the Federal Reserve System. Discuss reasons why there are more Federal Reserve Banks on the East Coast than the West Coast. Find a map at http://1.usa.gov/11CECzE
Bite Size Economics
Make a list of your impulse purchases in the last month and share it with a partner. Describe what spending weak spots you have and discuss a plan to help avoid these areas in the future.
Bite Size Economics
Many students think about running their own business as adults. Ask students to brainstorm types of businesses that interest them. Invite a local business owner from an area of interest to speak to the class about his/her experiences. Prepare for the speaker by making a list of interview questions related to running a business.
Bite Size Economics
Use the lesson plan and role play for "Payment Parliament" to teach students about the many ways we pay for goods and services: www.kansascityfed.org/publicat/education/teachingresources/Payment%20Parliament.pdf.
Bite Size Economics
Research President Obama's 2009 total income by going to: www.whitehouse.gov. ($5,505,409) What is his yearly presidential salary? ($400,000) From what sources did he earn most of his additional income? (sales of his books and winning the Nobel Peace Prize.)
Bite Size Economics
Read Rock, Brock and the Savings Shock by Sheila Bair. Illustrate the benefits of saving by using two clear jars, one for Rock and one for Brock, and adding or removing beans whenever the boys save or spend money.
Bite Size Economics
Brainstorm a list of careers or jobs that are associated with taxes (such as accountant). Research one of these careers to learn about the education qualifications, income level and demand for the job.
Bite Size Economics
Read Saving Strawberry Farm by Deborah Hopkinson. Use the children's literature lesson to discuss the role banks played during the Great Depression: www.stlouisfed.org/education_resources/assets/lesson_plans/StrawberryFarm.pdf.
Bite Size Economics
Think of a time when you paid for an expense you planned to buy (food, school supplies, etc.) and one you didn't plan to buy (spur-of-the-moment purchase.) Write a song that explains which was the better decision and why.
Bite Size Economics
Using the Chicago Board of Trade (www.cmegroup.com), follow the prices of basic commodities used in producing food, such as corn, wheat and meat products. Report results at the end of the month and make a prediction on food prices for the next month.
Bite Size Economics
Introduce wants and needs and give examples of each concept. Tell the students that they will be planning a picnic lunch and will make a chart of wants and needs for the picnic. Draw a T-chart on the board, labeling one side "Needs" and the other "Wants." Ask students for ideas to complete the chart, telling whether each idea is a need or a want.
Bite Size Economics
Use Lesson Two "Budget to Save: Developing a Budget" from Building Wealth in the Classroom: www.dallasfed.org/education/pubs/wealth_classroom/02_lesson.pdf to discuss budgets in relation to financial goals. Do the suggested activity of a budget analysis for a high school senior saving for the prom. Discuss areas where this budget could be streamlined to meet the student's financial goals.
Bite Size Economics
Have students draw a picture of their perfect vacation spot and include as many natural resources as possible.
Bite Size Economics
Pick a local publicly traded company. Research the goods and services that the company produces and sells, and create a four-slide minimum PowerPoint illustrating the company and what it does.
Bite Size Economics
Credit card bills now provide an estimate of how long it will take to pay off a balance making only the minimum payment. Paying more than the minimum can substantially decrease the total amount of the purchase. Discover the savings using the credit card repayment calculator at www.federalreserve.gov/creditcardcalculator.
Bite Size Economics
Ask students if they have ever run a lemonade stand. Point out that this is an example of a market, where buyers purchase lemonade from sellers. Discuss how sellers set their prices so buyers are willing to purchase. Ask students to give examples of goods from other types of markets they have visited, such as farmers markets, flea markets and garage sales.
Bite Size Economics
How do the Federal Reserve and the European Central Bank compare? Read A Look Inside Two Central Banks: The European Central Bank and the Federal Reserve from the St. Louis Fedand create a Venn diagram showing three similarities and three differences between the organizations. http://bit.ly/15JSIQF
Bite Size Economics
How does the following quote relate to today's rate of savings? "In the old days, a man who saved money was a miser; nowadays, he's a wonder." - Author unknown
Bite Size Economics
Trivia: Did you know that the United States is the world's largest consumer of oil? No other country consumes even half as much of the 20 million barrels a day used by the United States.
Bite Size Economics
Research the characteristics of a savings account, certificate ofdeposit, money market account and savings bond. Using the scenarioof a short-term savings goal, decide which one would be the bestplace for your money and explain your reasoning.
Bite Size Economics
Hand out various grocery receipts to students with the sales tax blacked out. Discuss that some states tax only non-food items, while others tax both food and non-food. Have students calculate the sales tax for both situations.
Bite Size Economics
Ask students to make a list of items that they would like to purchase in six months, including the estimated cost. Ask them to select on item and divide the cost by 6 for a monthly amount to save. Have them divide the monthly amount by 4 for a weekly savings amount. Ask if it would be a realistic weekly savings goal. If not, what would they do to make this a goal they could reach?
Bite Size Economics
Develop a list of economic, social and environmental costs and benefits of developing a new city park. Develop another list for the development of a large chain store like Wal-Mart in the same area. How are the costs and benefits the same or different?
Bite Size Economics
Use the lesson "M&M Interesting," found at http://ecedweb.unomaha.edu/lessons/M&M6-8.pdf# to learn about the advantages of compound interest. Discuss why it is important to start a savings account while you are young.
Bite Size Economics
Use Lesson 2: "W Is for Wages, W4 and W2" at www.stlouisfed.org/education_resources/assets/lesson_plans/paycheck/IYP_lesson2.pdf to learn about gross pay, net pay and the different deductions that are taken from paychecks.
Bite Size Economics
Discuss the quote: "In our rich consumers' civilization, we spin cocoons around ourselves and get possessed by our possessions." - Max Lerner
Bite Size Economics
Learn about the sectors of the Federal Reserve's Beige Book in the lesson Exploring Economic Sectors, available at: www.kansascityfed.org/publicat/education/teachingresources/Exploring-Economic-Sectors.pdf. Use the discussion questions provided for each sector to explore the concepts of supply and demand.
Bite Size Economics
Discuss the meaning of this quote: "An opportunity cost is an opportunity lost."
Bite Size Economics
"You Can't Always Get What You Want" by the Rolling Stones is a classic rock song that refers to wants and needs. Brainstorm a class list of other songs on the topic of wants and needs.
Bite Size Economics
Read Monster Musical Chairs by Stuart Murphy. Use the children's literature lesson to discuss the topic of scarcity in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/MonsterMusicalChairs.pdf
Bite Size Economics
Discuss this quote: "America's support for human rights and democracy is our noblest export to the world." - William Bennett
Bite Size Economics
Use handout 3 from lesson 4 of Building Wealth in the Classroom from the Dallas Fed to compare the interest rate, fees and additional information on five account types from a local bank. Share your findings. Once everyone shares, discuss the account and bank you would select. http://bit.ly/18kHBE4
Bite Size Economics
Uncover how and why the Federal Reserve expanded its balance sheet during the recent recession and financial crisis in the Philadelphia Fed's resource It's Not Your Mother and Father's Monetary Policy Anymore: The Federal Reserve and FinancialCrisis Relief. http://bit.ly/19gvxBB
Bite Size Economics
Gather pictures from magazine, local newspaper articles, chamber of commerce promotional material, etc., and create individual or group collages that represent the economy of theregion where you live. Be sure to include the natural, human and capital resources of your area.
Bite Size Economics
Write and perform a rap highlighting one or two of the principles you've discussed from the Guide to Economic Reasoning. Give examples explaining the principles in your lyrics.
Bite Size Economics
Create a skit in small groups about possible financial situations at age 65 (i.e., no savings vs. wealthy investor). Discuss possible actions that can lead to financial security in retirement.
Bite Size Economics
Discuss this quote: "Competition is not only the basis of protection for the consumer, but is the incentive to progress." - Herbert Hoover
Bite Size Economics
Justin's assets are a $250 bike, a $1299 computer, and $582 in savings. His liabilities are $475 owed on a loan for the computer and $138 owed to his mom. Add Justin's assets and subtract his liabilities from the total. What is Justin's net worth? ($2131 - $613 = $1518)
Bite Size Economics
Solve this income problem: Jay shoveled snow for five neighbors on his block. He earned $10 from two of them, $12 from the third, and $15 from the fourth and fifth. What was his income total? What was his average income from each shoveling job? (Total income: $62.00. Average income per job $12.40)
Bite Size Economics
Use magazine pictures to create a collage of future wants. Develop a budget that includes long term savings goals to purchase these items within the next five to 10 years.
Bite Size Economics
Discuss how businesses invest in capital resources, such as newer computers, machines and technology. How can spending money on these resources lead to profits in the long term?
Bite Size Economics
Use GeoFRED from the St. Louis Fed to examine economic data for your state. How does your state's unemployment rate today compare with what it was in May 2009? http://bit.ly/13R3yWW
Bite Size Economics
The threat of war pushed the Federal Reserve Banks to open early because of bank panic fears. How else can war affect the economic health of a country?
Bite Size Economics
Research and list the components of GDP by expenditure. What is the largest component of U.S. GDP? (consumption)
Bite Size Economics
Read My Side of the Mountain by Jean Craighead George. Use the children's literature lesson to discuss investing in human capital through acquiring skills and knowledge: www.stlouisfed.org/education_resources/assets/lesson_plans/MySideMountain.pdf
Bite Size Economics
List all the concepts from this planner on the board and number them. Number the sections of a beach ball similarly. Toss the ball to the class. Whoever catches it should explain the concept with the number closest to their right thumb. Repeat.
Bite Size Economics
Introduce the concepts of income and expenses. Give students the following scenario: Your family has decided to take a summer vacation to Disney World. You are responsible for earning money to spend on park passes and souvenirs during the trip. Brainstorm three ways to earn money and estimate approximately how much income you might receive from each activity. Write a letter to your parents explaining your fundraising plans.
Bite Size Economics
Use the following questions to interview three people about their spending habits as consumers: Where do you shop the most? Are you more concerned with price or quality? Is customer service important to you? Compare interview results with a classmate.
Bite Size Economics
Use the "Professor Finance and Fed Boy Meet the Catastrophe Clan" lesson: www.kansascityfed.org/education to introduce the Credit CARD Act and consumers' credit rights and responsibilities.
Bite Size Economics
Play "The Price is Right" by showing student teams a variety of store items, having them take turns estimating the price of each. The team closest to the price without overestimating wins a point. Keep track of points to determine the winning estimators.
Bite Size Economics
Discuss this quote: "Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States." Ronald Reagan
Bite Size Economics
Use lesson 2, "W is for Wages, W4 and W2," from It's Your Paycheck personal finance curriculum to learn what deductions are taken from weekly/monthly income. Discuss why these deductions are necessary for the government and the individual. www.stlouisfed.org/education_resources/assets/lesson_plans/paycheck/IYP_lesson2.pdf
Bite Size Economics
How does a recession affect the circular flow of income within the economy?
Bite Size Economics
A bear market is one where stocks steadily decline and investors are motivated to sell; a bull market is one where stocks are steadily increasing with investors' optimism. Ask students to design two new symbols (animal or other) to replace the bear and bull images and share why their symbols are good representations of these markets.
Bite Size Economics
The American economic system has tax laws that influence people's behavior. For example, a sales tax increase at restaurants might influence people to stop eating out. Write an essay on how a response to tax increases could have future consequences for businesses.
Bite Size Economics
Entertainment purchases can be a budget downfall. Brainstorm a list of 10 budget-friendly ideas for family entertainment that cost $5 or less.
Bite Size Economics
Working in groups, use restaurant menus to pick something to order and then calculate the sales tax on the order. Report the cost with tax and figure the tip using the tax rate as a guide.
Bite Size Economics
Discuss capital resources in the area of technology by brainstorming types of technological resources used daily by students. Have students rank these devices by importance in their lives. Which of these capital resources could they do without? How would they compensate?
Bite Size Economics
Compose a song or a rap about being a "savvy shopper." Include verses about comparison shopping, purchasing quality vs. quantity, and avoiding buyer's remorse.
Bite Size Economics
Use a graphic organizer to show how the price of gas varies from your state to several neighboring states. How can the same gallon of gas from the same distributor, such as Shell or Phillips, differ in price from one state to the next?
Bite Size Economics
Create a song or rap that promotes interdependence (when people or nations depend on one another for the goods and services they want) as a way of increasing imports and exports.
Bite Size Economics
Think you have what it takes to steer our country's central bank? Play the Chair the Fed game from the San Francisco Fed to try your hand at monetary policy. http://sffed-education.org/chairthefed/default.html
Bite Size Economics
Read So Few of Me by Peter Reynolds. Use the children's literature lesson to discuss the topic of opportunity cost in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/SoFewOfMe.pdf.
Bite Size Economics
Brainstorm the qualities that create credit worthiness. Assume the role of loan officers and review the credit histories of several fictitious individual who are requesting a loan. Decide to approve or reject the requests and provide rationale.
Bite Size Economics
Introduce banking by asking which students have bank accounts and where they bank. Discuss how a bank operates as a business by asking the following questions: Do banks hold all money deposited in their vaults? (No) What do banks do with the deposited dollars? (They keep the required reserve amount on hand, and lend out most of the remaining dollars.) What would happen if banks kept all the deposited money? (Customers would not get loans, and the bank would not receive interest from the loans.)
Bite Size Economics
Give students a sample budget of expenses for a family. Have them identify the fixed expenses (the same amount monthly) and the variable expenses (a changing amount monthly). Ask students to draw sentences out of a hat representing events that might change a monthly budget, such as buying holiday gifts or fixing a flat tire. Have the students identify whether the expense is fixed or variable and then modify the budget to incorporate the added expense.
Bite Size Economics
Most states have created 529 plans to assist parents in saving for their children's future education. Have students research plans for the states in their region, including regulators, fees and internet options. Make a chart comparing neighboring states' 529 plans to your home state.
Bite Size Economics
Discuss "interest" as "payments made for the use of money." Ask students if they think earning interest when they deposit money in a savings account is a good incentive to save. Why or why not?
Bite Size Economics
Discuss the difference between fact and opinion statements used to market a product. Hand out advertisements from magazines that contain both types of statements and ask students to identify the facts and opinions given. How can an awareness of these statements help consumers make wise choices?
Bite Size Economics
Get an international view of economic growth by looking up the per capita GDP and other economic information from the CIA World Factbook. Create a Venn diagram to compare similarities and differences of two countries. http://1.usa.gov/18tqEb9
Bite Size Economics
Hold a discussion on this topic: "When choosing a career, income is more important than passion for the job." Ask students to give reasons for their views.
Bite Size Economics
Look carefully at a picture of a $10 bill. Identify the following features that make the bill legal currency: denomination amount; presidential portrait; serial numbers; Federal Reserve and Treasury seals; important signature. Ask students to look for additional features and discuss.
Bite Size Economics
Jennifer sells craft items for extra income. She sold $236 worth of items in October, $348 in November, and $559 in December. What was her income for the three months? ($1142) What was her average income from crafts monthly? ($381)
Bite Size Economics
Introduce certificates of deposit and savings bonds as two ways to invest money. Look at the financial website: http://financialplan.about.com/od/savingmoney/a/wheretokeepsave.htm. Compare and contrast these two methods of saving to look at the advantages and disadvantages of each.
Bite Size Economics
Ask students to work with a partner on the following income/expenses problem: You want to convince your family to buy a new computer to replace the outdated one at home. Create a visual that gives family members ideas on how to cut monthly expenses (such as food, clothing and entertainment) in order to save income for the purchase.
Bite Size Economics
Change the lyrics of a popular song so that they now convince someone to keep their liabilities low for better financial health.
Bite Size Economics
Introduce the economic meanings of cost and benefit. Discuss that both are not always money-related, using the example of the costs and benefits of doing homework. Have students brainstorm a list of costs (losses) and benefits (gains) they experience by doing their homework. Take a vote to decide if the costs outweigh the benefits or vice versa.
Bite Size Economics
What financial institution lending practices led to the establishment of the Community Reinvestment Act? Why is the CRA important to bankers and consumers today?
| Trivia Title | Trivia Content |
|---|---|
| Bite Size Economics | Currency is printed at the Bureau of Engraving and Printing (in Washington, DC or Fort Worth, TX) and then shipped to the Federal Reserve for distribution to local banks when needed. Find these locations and the Federal Reserve office closest to you on a U.S. map. |
| Bite Size Economics | Compare the prices of store-brand items you need (milk, soap, clothing, etc.) versus the name-brands you want. Are the name brand items worth the price? Give reasons to back your opinion. |
| Bite Size Economics | Introduce the three types of resources, giving examples of each:Natural - gifts of nature used to make goods and services;Human - workers who make goods and provide services;Capital - goods made and used to provide other goods and services.Hand out magazines and have students find pictures of each type of resource. Use images to create a class resource poster with three columns labeled for the different resource types. |
| Bite Size Economics | Are you wise about credit? Learn about developing good credit by reading the Kansas City Fed's Common Cents article "Laying the foundation for responsible credit use." Take theGet a Credit Clue quiz to see if you are credit card worthy. http://bit.ly/11Dsm65 |
| Bite Size Economics | Explain the wisdom of this quote: "If you lend someone $20, and never see that person again, it was probably worth it." |
| Bite Size Economics | Brainstorm types of financial emergencies (car break-downs, medical problems, home repairs, etc.). Discuss why it is important to have an emergency fund for unexpected expenses. |
| Bite Size Economics | Divide students into two teams. Hold up pictures of natural, human and capital resources and take turns asking teams to identify the type of resource each is. Teams score points for correct answers. |
| Bite Size Economics | Draw a cartoon about a time when you experienced either a buyer's high or buyer's remorse after a purchase. In the panels, show the purchase, how the purchase made you feel and what you might do differently in the future. |
| Bite Size Economics | Stores often have a surplus of holiday candy after Halloween and Valentine's Day. What methods do store managers use to quickly sell their surplus? (half-price sales; special display) Describe three new and creative ways to reduce this surplus. |
| Bite Size Economics | Trade barriers are costs that raise the price of traded products. Examples are tariffs, import and export quotas, and embargoes. In groups, research and make charts to compare and contrast these barriers. |
| Bite Size Economics | Look up the current national budget deficit at www.brillig.com/debt_clock. Consider methods to reduce the deficit, and write a letter to Congress with recommendations. |
| Bite Size Economics | Debate the importance of producers using social media, such as Facebook, YouTube and Twitter, to get the attention of consumers in order to sell their products. |
| Bite Size Economics | Read The Goat in the Rug by Charles Blook and Martin Link. Use the children's literature lesson to discuss the topic of resources in the story: www.stlouisfed.org/education_resources/assets/lesson_plans/GoatintheRug.pdf |
| Bite Size Economics | Introduce the first two principles: People choose and people's choices involve costs. Explain that opportunity cost is a person's second-best choice that is given up when the first choice is made. Ask students to give examples of choices they make during a school day, such as lunch and recess options, and name the cost and benefits of each choice. |
| Bite Size Economics | Read Scraps of Time 1960s: Abby Takes a Stand by Patricia C. McKissak. Use the children's literature lesson to learn about how taxes fund transfer programs such as Head Start and Medicaid: www.stlouisfed.org/education_resources/assets/lesson_plans/Scraps_of_time.pdf |
| Bite Size Economics | Create a trophy that could be awarded as a classroom incentive for the best singer, athlete or leader in the group. |
| Bite Size Economics | Develop a budget for a classic picnic. Use grocery ads to plan a meal for 20 students that includes an entrêe, two sides and a dessert, for $50 or less |
| Bite Size Economics | Why are federal laws necessary to protect the civil rights of consumers? |
| Bite Size Economics | Watch the Economic Lowdown video on demand at: www.stlouisfed.org/education_resources/podcasts/economic_lowdown_video_2.cfm. Take notes on the six ways demand can change, giving an example for each. Create and present a skit showing the effects of supply and demand on the purchase of the newest cell phone, tablet or electronic device. |
| Bite Size Economics | Read Meet Kit: An American Girl by Valerie Tripp. Use the children's literature lesson from the St. Louis Fed to role play the effect that unemployment and reduced spending can have onpeople's lives during a recession. http://bit.ly/12Bxppn |
| Bite Size Economics | Read the original Federal Reserve Act, signed Dec. 23, 1913. Write down four key facts about the founding of the Federal Reserve System from the primary source document, available from the Librarians' Society of Washington, D.C. http://bit.ly/18qbUEL. |
| Bite Size Economics | Cut magazine or catalog pictures of natural, human and capital resources and place them randomly into paper bags. Divide students into groups and give each group a resource bag. Ask them to create a new business using their resources and share how each resource is used within their business to produce a product. |
| Bite Size Economics | Write a short essay explaining the reasoning for tariffs on imports to the United States. |
| Bite Size Economics | Learn about online banking by becoming a quiz show participant in the Kansas City Fed's role play To Pay the Price. http://bit.ly/ZT730u |
| Bite Size Economics | Discuss how this quote relates to entrepreneurship: "Wanting something is not enough. You must hunger for it. Your motivation must be absolutely compelling in order to overcome the obstacles that will invariably come your way." - Les Brown |
| Bite Size Economics | How did the settlement pattern of the United States influence the location decisions for Federal Reserve Banks? |
| Bite Size Economics | While watching TV commercials within a given time period, identify how many of the products advertised are wants and how many advertised are needs. Using your results, calculate the percentage of each and report to the class. |
| Bite Size Economics | Place a variety of job titles with their associated incomes in a hat and then place an assortment of typical monthly expenses in another hat. Draw one job and income and five monthly expenses. Determine if the income exceeds the monthly expenses. |
| Bite Size Economics | Take turns pantomiming workers performing service type jobs, such as bus driver, construction worker, chef, etc. Have the class try to guess which services are being acted out. |
| Bite Size Economics | Write a haiku on the importance of paying yourself first. |
| Bite Size Economics | Discuss this quote: "A man with a surplus can control circumstances, but a man without a surplus is controlled by them, and often has no opportunity to exercise judgment." - Marshall Field |
| Bite Size Economics | Introduce the concepts of profit and loss. Organize a classroom business selling a food or craft product. Have students figure the cost of materials (expenses); create the products; and decide on a selling price (income) to make a profit. Invite another class to view and buy the products using fake money. After the sale, have students figure the class profit/loss based onthis formula: total income - total expenses = profit. |
| Bite Size Economics | Introduce the first three principles, discussing incentives as things that influence the behavior of people. Discuss the concepts of opportunity cost and monetary cost. Provide the following scenario: You are trying to decide whether to start college right after graduation or wait and work for a year before enrolling. Create a table listing the opportunity costs and monetary costs, as well as the benefits of both choices. Make your final decision and explain your reasoning. |
| Bite Size Economics | Discuss this quote: "The only thing we have to fear is fear itself". - Franklin D. Roosevelt. How could these words relate to bank panics? |
| Bite Size Economics | Explore bank supervision and regulation by watching Chapter 6 of the Philadelphia Fed's video The Federal Reserve and You. Write three key facts about each of the video segments: Supervision and Regulation History, the Role of Congress, and Bank Examinations.http://bit.ly/11dWBdQ |
| Bite Size Economics | Play 20 Econ Questions or Econ Word Wiz (www.federalreserveeducation.org/resources/fiftynifty) using "producer" as one of the words. |
| Bite Size Economics | Read Bunny Money by Rosemary Wells. Use the children's literature lesson to discuss the topic of short and long-term savings goals: www.kansascityfed.org/publicat/education/teachingresources/Bunny-Money-Lesson-Plan.pdf. |
| Bite Size Economics | Read The Pickle Patch Bathtub by Frances Kennedy. Use the St. Louis Fed's children's literature lesson to discuss the topic of developing a plan to achieve your savings goal: http://bit.ly/12LedV1 |
| Bite Size Economics | Gas prices are $3.29 a gallon and then increase to $3.69 a gallon due to a shortage. How much would 18 gallons of gas cost at each price? ($59.22; $66.42) How much would you save if you purchased gas at the lower price? ($7.20) |
| Bite Size Economics | Read Ten Mile Day by Mary Ann Fraser. Use the children's literature lesson to discuss the role of production in the development of the transcontinental railroad: www.stlouisfed.org/education_resources/assets/lesson_plans/TenMileDay.pdf |
| Bite Size Economics | Before Harry Truman became the 33rd president, he was a Kansas City entrepreneur in which business? A) Finance B) Newspaper C) Clothing. Answer: C) He ran a business that tailored men's clothing. |
| Bite Size Economics | Choose a product and research the price of that product during a 10-year period. Graph the changes over time and discuss possible reasons for those changes, such as the increasing priceof materials, a better quality product, inflation, etc. |
| Bite Size Economics | Why have other countries adopted mobile payments faster than the United States? Find out in the Atlanta Fed's podcast The Future of Mobile Payments. Write a description of a mobile payment option you think would work best in United States. http://bit.ly/11YTIOu |
| Bite Size Economics | Choose a job and research its income in two different countries. (Example: a starting teacher in Mexico is paid $10,465 a year, while a starting teacher in Canada is paid $35,400 a year.) Discuss why the same job can have different salary levels in different countries. |
| Bite Size Economics | Make a chart comparing the costs of a new sports car and a used compact car. Figure the expenses for each car, including loan payment, fuel and insurance. If transportation to your job is a need, which car is the better choice? |
| Bite Size Economics | Discuss fixed budget expenses (costs that remain the same) and variable expenses (costs that change). Write and perform a skit about college students living on campus who deal with these expenses. |
| Bite Size Economics | How do students buy their goods and services? How many shop online versus going to brick-and-mortar stores? Discuss the use of shopping apps and how they help in comparing prices. Do students ever use apps to comparison shop? |
| Bite Size Economics | Weather conditions can create shortages. Work with a partner to make a list of hardware and department store items that might be in short supply during a snowstorm. (snow blowers, shovels, gloves, hats, etc.). Pantomime the use of each item for the class to guess. |
| Bite Size Economics | Why is money deducted from your paycheck and where does it go? Learn how to read a paystub, discuss different methods for receiving wages, and discover ways to get more from your paycheck with the Kansas City Fed's Putting Your Paycheck to Work resources. http://bit.ly/17nFIa0 |
| Bite Size Economics | You have opened a new video game store and hired five full-time employees. If starting salaries are $8.50 an hour and all employees work a 40-hour week, how much should you budget for employee salaries weekly? ($1,700) |
| Bite Size Economics | Read Supermarket by Kathleen Krull. Use the children's literature lesson to discuss how technology has changed markets: www.stlouisfed.org/education_resources/assets/lesson_plans/supermarket.pdf |
| Bite Size Economics | Discuss the meaning of the following quote: "Budget: a mathematical confirmation of your suspicions." - A.A. Latime |
| Bite Size Economics | Draw a cartoon to portray one of the following label instructions found on consumer goods: hairdryer-never use while sleeping; iron-do not iron clothes on body; child's costume-cape does not enable user to fly. |
| Bite Size Economics | If a company's losses are much greater than its profits, the owners might consider filing for bankruptcy. Research the concept of bankruptcy and write an essay describing the advantages and disadvantages. |
| Bite Size Economics | How will paying for goods and services change in the future? Invent and illustrate a new method of payment for the year 2025. Label invention parts and write a brief explanation telling how to use your payment method. |
| Bite Size Economics | Ask students to compose a story about becoming an entrepreneur, including the name and type of their new business and a description of the capital and human resources they'd need. |
| Bite Size Economics | The interest on your savings account has increased from 1% to 2.5%. How much interest would your $100 deposit earn in a year (without compounding) at each percentage? ($1; $2.50) Explain how receiving interest can be an incentive to save. |
| Bite Size Economics | North Dakota's oil surplus has led to a low unemployment rate and a state budget surplus. Research North Dakota's boom and write an essay about whether or not you would be interested in moving to the state under current circumstances. |
| Bite Size Economics | Bank XYZ is examined and scored every year to make sure it is following banking rules as a safe and sound place for your money. The last four scores were 3, 2, 2 and 1. What is the average score of Bank XYZ? (Answer: 2) |
| Bite Size Economics | Introduce taxes by asking what happens on April 15. Discuss that one of the purposes of income taxes is to pay for public goods (such as parks and roads) and public services (such as police, fire and military workers). Ask students to imagine what would happen if the government didn't use tax money to provide these goods and services. Have them draw a picture of a situation where a lack of public goods or services caused a problem. |
| Bite Size Economics | Discuss the importance of the following quote to those who run their own business: "In the business world, the rearview mirror is always clearer than the windshield." - Warren Buffett |
| Bite Size Economics | Develop a chart listing 10 tips that will help the environment through protecting natural resources. (Example: Pick up litter along trails and waterways.) |
| Bite Size Economics | Before buying clothes or shoes, consumers should consider several features, such as price, quality, fit, style and comfort. Discuss and rank these features with students to see which ones are most important to them in making a purchasing decision. |
| Bite Size Economics | Introduce the following formula: Assets-Liabilities = Net Worth, or your economic wealth. Use Money Circle Theme 3, Lesson 1 found at: www.federalreserveeducation.org/resources/MoneyCircle. Discuss the assets, liabilities and net worth of the student in the Activity 1 story. Ask students to write a similar story about themselves, listing current assets, liabilities and assessing their net worth. |
| Bite Size Economics | Find auto loan 36-month interest rates for a used car from three banks. Record the rates and any additional fees or conditions from each bank. Discuss which bank you would choose to finance your car loan and give reasons why. |
| Bite Size Economics | Become a board member of a Federal Reserve Bank and learn about the Fed's grassroots approach to gathering regional economic information in the Atlanta Fed's simulation Monetary Policy Starts in Your Own Backyard. http://bit.ly/ZNti2r |
| Bite Size Economics | Set up a classroom market where students can experience the buying and selling of goods and services by using the "Math: Paying the Price: activity from the Nifty Fifty Econ Cards website: www.federalreserveeducation.org/resources/fiftynifty |
| Bite Size Economics | Choose a publicly-traded company, such as Amazon (AMZN), and follow the price of that company's stock each week for a month. Report whether the price has increased or decreased during that time, and provide a recommendation on buying the stock. |
| Bite Size Economics | Play a game of musical chairs or a game where there is not enough gym equipment for all players. Discuss how the lack of chairs or equipment makes the game more difficult. Scarcity forces us to make choices or decisions. |
| Bite Size Economics | Research Mattel, Hasbro or other toy companies to see how they determine what toys to produce and supply to retail stores. Use the information you find to predict what toys might be popular in 2020. |
| Bite Size Economics | Two friends set up a lemonade stand, charging 75 cents for two glasses sold. They lowered their price to 60 cents, selling four glasses. Their final price of 50 cents sold six glasses. Create a demand graph that shows this information. What was the twins' total revenue? ($6.90) |