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Fad or Fortune
Source: Council for Economic Education (EconEdLink) | Type: Lesson
This lesson focuses on collectibles and how they retain, lose, or gain value. In each round of a trading simulation, students will learn more about the value of their collectibles and discuss why items gain or lose value. They will record and reflect on their strategies for each round
Grades:
Concepts:
- Choice
- Competition
- Demand
- Exchange
- Markets
- Scarcity
- Voluntary Exchange
Standards:
- Economics 1: Scarcity
- Economics 4: Role of Incentives
- Economics 5: Gain from Trade
- Economics 7: Markets - Price and Quantity Determination
- Economics 8: Role of Price in Market System
- Economics 9: Role of Competition
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