LESSON 4 A CLASSROOM MARKET FOR COCOA

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HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Sample CardsSAMPLE BUYER CARDYou want to buy a unit of cocoa. You are willing and able to pay ______ for this unit, but you want to pay the lowest price you can. The lower the price you negotiate, the greater your gain.

SAMPLE SELLER CARDYou want to sell a unit of cocoa. This unit cost you ______ to produce, but you want to sell it for the highest price you can. The higher the price you negotiate, the greater your gain.

LESSON 4 A CLASSROOM MARKET FOR COCOA

4-2

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Score SheetTransacti

on Number

Column A: Amount on

Card

Column B: Price

Negotiated

Column C: Gain or Loss (if Negative)

1 2 3 4 5 6 7 8 910

LESSON 4 A CLASSROOM MARKET FOR COCOA

4-3

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Price per Unit Round 1 Round 2 Round 3$18$19$20$21$22$23$24$25$26$27$28$29$30$31$32$33$34$35$36$37$38

LESSON 4 A CLASSROOM MARKET FOR COCOA

4-4

HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY

Market Equilibrium

0 2 4 6 8 101214161820222426283032$16$18$20$22$24$26$28$30$32$34$36$38

Number of units of cocoa

Price

per

uni

t

Demand Supply