Describes a simple business, leading to a discussion on inflation/deflation. It also touches on income statements. [Economics playlist: Lesson 1 of 20]

Continues the description of the cupcake business, inflation/deflation, and the income statement. [Economics playlist: Lesson 2 of 20]

Uses a spreadsheet to show why prices decrease when utiliation is low and why prices increase when utilization is high. [Economics playlist: Lesson 3 of 20]

Lesson Objective: At the completion of this lesson, students will have an understanding of the economic indicators and their relationship to the business cycle.  Supplies Needed:Student Handout 1Key Terms (1 per student) (found in Task 1)  References: Econedlink: Council for Economic Education. (n.d.). Economic Glossary. Retrieved from http://www.econedlink.org/economic-resources/glossary.phphttp://www.econedlink.org/interactives/index.php?iid=200&type=studentMBA dictionary. (n.d.). Retrieved November 15, 2014, from MBAResearch and Curriculum Center 

This 3-minute video lesson explains the basics of deflation. [Core Finance playlist: Lesson 168 of 184]

Students will compare the price of goods from one time period to another and through discussion and role play interpret the effects of inflation on consumers. They will categorize goods and services according to the eight major groups of the consumer price index and be able to determine the difference between the Consumer Price Index (CPI) and the core CPI.