Analyzing a Product Market
Unit 2 · Lesson 2.9 · Last updated June 2026
A 45-minute summative assessment where students select and analyze a product market model using economic language, paired with an assessment wrapper that promotes metacognition and strengthens preparation for the end-of-unit assessment.
Overview
In this lesson, students demonstrate what they have learned about product markets by selecting and analyzing one product market model. Students also complete the first part of an assessment wrapper that, when revisited upon receiving their scored assessment, promotes metacognition and encourages effective assessment preparation strategies. Note: This lesson assumes that students have learned about the principles of economic thinking (introduced in Unit 1), the law of supply, the law of demand, and shifters of supply and demand.
Learning Objective
- Analyze a product market.
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Materials
- Instruction Slides (display during class period)
- Assessment Wrapper (1 copy per student)
- Analyzing a Product Market (1 copy per student)
Optional
- Suggested Scoring Rationale (1 copy for educator use — previously used in Lesson 2.8)
Lesson Sequence
Slides 2–4
- Display Slide 2. Tell students to follow the instructions on the slide. Students should clear their desks of all materials other than lined paper and writing utensils. (Additional educator tips and suggested answers are in the notes section throughout Instruction Slides.)
- Progress through Slides 3–4. Introduce the learning objective and the agenda for the day.
Slides 5–14
- Advance through Slides 5–6. Identify what metacognition is and why it is a beneficial skill for students to master.
- Proceed to Slide 7. Distribute 1 copy of Assessment Wrapper to each student. Explain that this is an opportunity to engage in metacognition. Tell students to follow the instructions on the slide. Pause while students complete questions 1–4 of Assessment Wrapper.
- Advance through Slides 8–10. Distribute 1 copy of Analyzing a Product Market to each student. Remind students that they were introduced to the assessment and practiced scoring a sample in Lesson 2.8. Reinforce that students should read the rubric carefully before beginning and before submitting their work.
- Display Slide 11. Pause for any questions that are useful for the group and remind students that they can ask questions during individual work time.
- Progress through Slides 12–13. Use the text on Slide 13 to remind students of the expectations. Circulate while students work to supervise and clarify instructions as needed.
- Proceed to Slide 14 when 5 minutes remain. Announce that the period will end soon.
- Collect Analyzing a Product Market and students' written responses. It may be helpful to use Suggested Scoring Rationale to anchor the scoring of the assessment.
Returning Scored Work (on a later day)
- Display Slide 16. Instruct students to read the information on the slide as you return scored Analyzing a Product Market and Assessment Wrapper to each student. Remind students that the end-of-unit summative assessment requires similar skills and knowledge.
- Allow students 8 minutes to follow the instructions on the slide. Emphasize that it is beneficial to be thoughtful as they complete the reflection — doing so will improve performance on the end-of-unit assessment.
Aligned Standards
Voluntary National Content Standards in Economics
What Educators Are Saying
We teach our Economics courses in the Spring semester. We used Econiful lessons last year — and plan to look at adding lessons from the Personal Finance unit this year.
Easy to use and ready to go.
They are helpful resources that think outside the box.