lesson
Raw Material Price Spikes and Supply Reductions
Demonstrate how an increase in the cost of lumber or steel forces builders to raise prices or construct fewer buildings.
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Production Costs, Regulations, and Market Forecasting
4th Grade · Social-studies · US-WI-SS
5 lessons
Goal
Analyze how raw material costs and government regulations affect supply, and apply economic clues across case studies to forecast real-world market changes.
5 lessons
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- Raw Material Price Spikes and Supply ReductionsYou are here
- 2Government Taxes and Regulations on ProducersPremiumUp next
- 3Case Study: The Great Cranberry Harvest in WisconsinNot started yet
- 4Case Study: The Handheld Gaming Console CrazeNot started yet
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Learning standards covered
SS.Econ2Wisconsin Social Studies Standards · 4th GradeWisconsin students will analyze how decisions are made and interactions occur among individuals, households, and firms or businesses (Microeconomics).
Econ2.bWisconsin Social Studies Standards · 4th GradeSupply, demand, and competition
SS.Econ2.b.4-5Wisconsin Social Studies Standards · 4th GradeAssess the roles of consumers (demand), producers (supply), prices, non-price factors (e.g., drought or a fad item), and competition in the product market.