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Value Is in the Eye of the Beholder-- Subjective Value, Information, and Ethics in Economics
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Value Is in the Eye of the Beholder-- Subjective Value, Information, and Ethics in Economics
Social Studies
Grade 6-12
This lesson explores the concept of subjective value through a narrative involving an estate sale and a valuable painting sold for far less than its true market price. Students examine how personal preference, information, and knowledge affect value, while also considering ethical questions related to fairness and moral responsibility in economic transactions.
Supporting Files
Value Is in the Eye of the Beholder.pdf
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