LESSON 4 A CLASSROOM MARKET FOR COCOA Sample Cards SAMPLE BUYER CARD You 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 CARD You 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. 4-1 HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY LESSON 4 A CLASSROOM MARKET FOR COCOA Score Sheet Transaction 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 9 10 4-2 HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY LESSON 4 A CLASSROOM MARKET FOR COCOA 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 4-3 HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY LESSON 4 A CLASSROOM MARKET FOR COCOA Price per unit Market Equilibrium $38 $36 $34 $32 $30 $28 $26 $24 $22 $20 $18 $16 Demand Supply 0 4 8 12 16 20 24 28 32 Number of units of cocoa 4-4 HIGH SCHOOL ECONOMICS 3RD EDITION © COUNCIL FOR ECONOMIC EDUCATION, NEW YORK, NY