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Who Decides Wage Rates? | Lesson Demo
Source: Council for Economic Education (EconEdLink) | Type: Interactive Tool

This video models Lesson 13 from CEE's High School Economics publication in the classroom. It discusses lesson objectives and provides pointers for teaching about how demand and supply for labor determine market wage rates and how wages depend, in part, on individual productivity.

Grades:

• 9-12

Concepts:

• Demand
• Derived Demand
• Human Capital
• Income
• Labor
• Labor Market
• Supply
• Wage

Standards:

• Economics 1: Scarcity
• Economics 6: Specialization and Trade
• Economics 7: Markets - Price and Quantity Determination
• Economics 13: Role of Resources in Determining Income
• Economics 15: Growth

Related Resources:

• Principles of Economics
• Who Decides Wage Rates?
• Why does Eli Manning Make $24 million per year?

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