Students will be able to:
- Recognize the importance of marginal analysis.
In this economics activity, students will investigate marginal analysis.
This activity is an individual activity where students view a video and respond to a set of questions. The activity is available in two ed tech tool versions, a Quizizz Activity or ReadyAssessments Activity. Select one. Marginal analysis is a means of examining the costs and benefits when making a change in the production of goods and services – or when we are deciding how to use our time. Few things in life are zero-sum, meaning all or nothing. Instead, choices have both costs and benefits, and our goal is to maximize the benefits and minimize the costs. Marginal analysis can help us better understand how the decision-making process works. To complete this activity, students will follow the instructions below:
- Watch the first 8 minutes of the Crash Course Economics: Episode 18 Marginal Analysis and Roller Coasters.
- Answer the questions in activity.
Grades 6-8, 9-12