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Utility

Can happiness be measured? Students will learn how utility relates to economic decision making and the law of diminishing marginal...
Key Concepts: Decision Making/Cost-Benefit Analysis, Demand, Wants

Traditional Economies and the Inuit

The Inuit people of northern Canada provide an example of a traditional economy. For thousands of years, Inuit parents have...
Key Concepts: Demand, Economic Systems, Goods and Services…

What Happened to Railroads?

Between the Civil War and World War II, railroads were one of the nation's most important businesses and an integral...
Key Concepts: Business Costs and Revenues, Credit, Decision Making/Cost-Benefit Analysis…

The Higher you Climb, The More You Pay

Students will take a "Virtual Tour" of the Eiffel Tower in Paris France and locate the price of a bottle...
Key Concepts: Choice, Decision Making/Cost-Benefit Analysis, Demand…