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Explain the law of supply and demand. Concepts: Equilibrium price, surplus, shortage. Shift factors: Income, Preferences, Substitutes. Diagram description: X (Quantity) and Y (Price) axes with intersecting curves.
Set up a classroom economy to teach financial concepts. System: 1. Jobs: Students apply for and hold classroom jobs (e.g., line leader, tech support, librarian), earning a weekly 'salary' in classroom currency. 2. Income: Students earn money for their job and bonuses for positive behavior. 3. Expens...
