Supply and Demand

Prices! Prices! Prices! Why They Go Up and Down

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Copies: 6

Sometimes prices go up and up and up. Then they suddenly crash. Why? In simple language and with colorful graphics and amusing characters, this picture book explains the basic laws of supply and demand, using examples kids will understand, such as dueling lemonade stands on the same block. Terms such as "fixed costs" and "variable costs" are clearly explained, and a glossary as well as a helpful graphic summary are included.

Prices! Prices! Prices! Why They Go Up and Down

The Great Depression and the Keynesian Revolution (2012)

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In 1932, President Herbert Hoover spoke enthusiastically about financial recovery while John Maynard Keynes expressed doubts. In 1936, Keynes published The General Theory of Employment, Interest, and Money, developing a theory that later became the basis for public policy in Washington.

Grade Level: 
High
Professional
Length: 
00:28
The Great Depression and the Keynesian Revolution

Resources and Scarcity (2012)

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Faced with dwindling resources, Congress fiercely debated whether to preserve 100 million acres of Alaskan land as a national park or open the land for mineral exploration. The need to provide both guns and butter during World War II led to an unprecedented period of economic growth. In the 1970s, the U.S. Supreme Court ordered U.S.

Grade Level: 
High
Professional
Length: 
00;28
Resources and Scarcity

The Firm: How can it keep costs down? (2012)

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In 1980, renowned soda company Coca-Cola replaced sugar with high-fructose corn extract in order to lower production costs. In 1963, Studebaker closed its plant, unable to increase sales and take advantage of economies of scale. In the 21st century, printing and publishing company PrintPOD, Inc. avoided increasing domestic labor expenses by tapping into the workforce in India.

Grade Level: 
High
Professional
Length: 
00:28
The Firm: How can it keep costs down?

Supply and Demand: What sets the price? (2012)

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A two-year drought in California in the 1970s motivated areas such as Marin County to conserve by reducing their water consumption by as much as 66 percent. Following the Arab oil embargoes of 1973, the Nixon Administration latched onto the “world price” of “new” oil, encouraging domestic oil suppliers to drill again.

Grade Level: 
High
Professional
Length: 
00:29
Supply and Demand: What sets the price?

Markets: Do They Serve Our Needs? (2012)

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The return of U.S. troops from overseas following World War II created a massive demand for cheap housing. Rising labor and energy costs in the United States in the '60s and '70s forced domestic steel manufacturer NUCOR to find ways to lower production costs.

Grade Level: 
High
Professional
Length: 
00:28
Markets: Do They Serve Our Needs?

Perfect Competition and Inelastic Demand: Can the Farmer Make a Profit? (2012)

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Farmers lured into producing massive food surpluses for WWI could no longer profit when the war ended and demand plummeted. After 1933, President Franklin D. Roosevelt sought to improve the conditions of farmers via policies in his New Deal plan.

Grade Level: 
High
Length: 
00:28
Perfect Competition and Inelastic Demand: Can the Farmer Make a Profit?