Transcript Lesson 4 - High School Economics

LESSON 4 A CLASSROOM MARKET FOR COCOA
Sample Cards
SAMPLE BUYER CARD
You want to buy a unit of cocoa. You are willing and
able to pay ______ for this unit, but you want to pay
the lowest price you can. The lower the price you
negotiate, the greater your gain.
SAMPLE SELLER CARD
You want to sell a unit of cocoa. This unit cost you
______ to produce, but you want to sell it for the
highest price you can. The higher the price you
negotiate, the greater your gain.
4-1
HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 4 A CLASSROOM MARKET FOR COCOA
Score Sheet
Transaction
Number
Column A:
Amount on
Card
Column B:
Price
Negotiated
Column C:
Gain or Loss
(if Negative)
1
2
3
4
5
6
7
8
9
10
4-2
HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 4 A CLASSROOM MARKET FOR COCOA
Price per Unit
Round 1
Round 2
Round 3
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
$33
$34
$35
$36
$37
$38
4-3
HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY
LESSON 4 A CLASSROOM MARKET FOR COCOA
Price per unit
Market Equilibrium
$38
$36
$34
$32
$30
$28
$26
$24
$22
$20
$18
$16
Demand
Supply
0
4
8
12
16
20
24
28
32
Number of units of cocoa
4-4
HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY