Supply and Demand
A recent activity in Economics class reinforced issues that can affect supply. The class was divided into two teams: the United States and Vietnam. Teams had to produce as many "widgets" (beads threaded onto paper clips) as they could in 30 seconds. As they progress through the activity, the US producers have to face issues that affect their ability to produce: higher wages, higher taxes, and OSHA regulations that negatively affect their ability to match the production rates of Vietnam. Students then write a written reflection on whether they would prefer to buy American or foreign-produced products and how their choices affect the American economy.
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