ALEX Classroom Resources

   View Standards     Standard(s): [SS2010] ECON (12) 6 :

6 ) Describe how specialization and voluntary exchange between buyers and sellers lead to mutually beneficial outcomes.

•  Illustrating on a circular-flow diagram the product market; the factor market; the real flow of goods and services between and among businesses, households, and government; and the flow of money

•  Constructing examples of specialization and exchange

•  Illustrating on a table and graph the law of supply and demand

•  Describing the role of buyers and sellers in determining market clearing price

•  Illustrating on a table and graph how supply and demand determine equilibrium price and quantity

•  Illustrating on a graph of supply and demand how price movements eliminate shortages and surpluses

•  Illustrating on a graph how different factors cause changes in a market supply and demand

•  Explaining how prices serve as incentives in a market economy

Adriene Hill and Jacob Clifford teach you about one of the fundamental economic ideas, supply and demand. What are supply and demand? Well, you’ll have to watch the video to really understand it, but it’s kind of important for everything economically. Supply and demand set prices, and indicate to manufacturers how much to produce.

   View Standards     Standard(s): [SS2010] ECON (12) 6 :

6 ) Describe how specialization and voluntary exchange between buyers and sellers lead to mutually beneficial outcomes.

•  Illustrating on a circular-flow diagram the product market; the factor market; the real flow of goods and services between and among businesses, households, and government; and the flow of money

•  Constructing examples of specialization and exchange

•  Illustrating on a table and graph the law of supply and demand

•  Describing the role of buyers and sellers in determining market clearing price

•  Illustrating on a table and graph how supply and demand determine equilibrium price and quantity

•  Illustrating on a graph of supply and demand how price movements eliminate shortages and surpluses

•  Illustrating on a graph how different factors cause changes in a market supply and demand

•  Explaining how prices serve as incentives in a market economy

[SS2010] HGEO (9-12) 9 :

9 ) Explain how economic interdependence and globalization impact many countries and their populations.

•  Tracing the flow of commodities from one region to another

•  Comparing advantages and disadvantages of global trade agreements

John Green teaches you about the so-called Silk Road, a network of trade routes where goods such as ivory, silver, iron, wine, and yes, silk were exchanged across the ancient world, from China to the West. Along with all these consumer goods, things like disease and ideas made the trip as well. As is his custom, John ties the Silk Road to modern life and the ways that we get our stuff today.

**Sensitive: This resource contains material that may be sensitive for some students. Teachers should exercise discretion in evaluating whether this resource is suitable for their class.