Level C: Hog Wild: Fluctuations in Commodities Markets
This model illustrates how a commodity often oscillates over time based on supply, demand, and price. Students explore a pork commodity, comparing simulation results given two scenarios for large and small farms.
Represent and interpret data on a line graph.
Identify producers (the supply side) and consumers (the demand side) in the model.
Articulate the role of price in a marketplace.
Explain what happens to price when the supply is low and how that affects producers.
Illustrate the path to market for a commodity.
Compare large-scale farming to small-scale farming in terms of impact and practicality.
As a journalist writing for the local newspaper, investigate small versus large-scale farming practices and report on the impact and practicality of different methods.
Math: Vary assumptions, explore consequences, and compare predictions with data.
National Curriculum Standards for Social Studies: How people organize for the production, distribution, and consumption of goods and services; scarcity of resources; and economic needs versus wants.
Economics: Prices send signals and provide incentives to buyers and sellers.