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In this economics activity, students will investigate marginal analysis.
Resources
Procedure
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 tools, a Quizizz Activity or ReadyAssessments Activity. It is also available as a worksheet. Select one of the options. Use the worksheet answer key as a teacher guide to check for correct answers. Begin by prompting students with the following:
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.
Then, ask students to follow the instructions below:
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