This week in economics, we explored the concepts of supply and demand through a variety of activities. First, we read about supply and demand and then role-played a market simulation with students acting as buyers and sellers. Afterward, we engaged in a money shopping simulation where each student received $3 and had the opportunity to “shop at Mrs. Trammer’s Toy Shop.” Through these activities, we learned how cost impacts supply and demand, practiced bargaining, bartering, and trading, and discussed how the scarcity of resources can increase the value of an item.

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