Are these luxury items a better investment than gold or the stock market? Or will buyers be left holding the bag?
Imagine an item so exclusive that you have to be specifically selected as a person who has the opportunity to shell out tens of thousands of dollars to get one. Aside from its extreme exclusivity, it’s also unnecessary for day-to-day life and there are much cheaper alternatives in the market. Would such a thing be worth buying? Discuss this with your students in NGPF’s activity series based on Business Insider’s web series: So Expensive.
Students will watch a video about a specific product or service, identify the specific factors of production that impact its price, and dig deeper by answering a few thought-provoking questions.
So Expensive #16: Hermes Birkin Bags
Frequently Asked Questions
How often will this activity be released?
We will release one So Expensive activity per week during this school year. If for any reason the web series stops making new episodes or the content becomes unfit for use in the classroom, we will communicate any plans to transition away from So Expensive as soon as possible.
How do I deliver this activity?
We have included both a Nearpod and no-tech version of the activity. Note: you will need to be logged into your Nearpod account to download the activity. There is no answer key, but the no-tech version will have a slide with example answers for the factors of production and the Nearpod version will have answers preloaded in a drag-and-drop activity.
How is the activity structured?
Each week’s activity will include:
- Factors of production learning/refresher resources
- A Business Insider “So Expensive” video
- Factors of production identification activity
- Multiple discussion questions about that week’s product or service
What if my students haven’t learned about the factors of production?
The activity includes a video and infographic that will give students the foundational knowledge needed to understand the factors of production and put that knowledge to use.
When should I use this activity?
This activity is built to be flexible. It can be used to supplement your existing personal finance lessons or it can be used as a standalone activity if you’re looking for a meaningful and relevant way to engage your students as we head into the final weeks of the school year.
How long does the activity take?
The video about the factors of production is 4 minutes and the So Expensive videos generally range between 5-10 minutes. So, depending on whether students watch both videos and how in-depth your students go in the discussion questions, it’s reasonable to expect the activity to take somewhere between 15-30 minutes.
Where can I find the So Expensive activities on the website?
On NGPF.org’s top navigation, hover over the curriculum menu and click “So Expensive Series” under Economics.
We hope this activity will help you provide your students with engaging topics to help sharpen personal finance and economics skills!
Have questions or comments? Reach out to email@example.com!
Looking for more ways to introduce economics into your personal finance classroom? Check out NGPF’s Econ Collection!