Where Does the Price of Pizza Come From?
Source: Council for Economic Education (EconEdLink) | Type: Lesson
How does a market economy determine prices? Students graph supply and demand curves for pizza in the fictional town of Pizzaville using two data sets and learn that consumers are willing to buy more pizzas at lower prices while sellers are willing to produce more pizzas at higher prices. The intersection of the supply and demand curves is the market price.
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