Over 16 million comics and storyboards created

Free!
Pixton Comic & Storyboard Maker

Lesson Plan by Maggie M. Larche M.A.

Price Controls

This free, printable Pixton lesson plan brings economic concepts to life with comics and storyboards.

Make economic concepts come to life with comics!

Including these awesome activities:
Print All

Featured Layouts

When students complete the activities in this lesson plan, they will use the following comic layout types.

  • Comic Strip
  • Storyboard
  • Graphic Novel
  • Timeline
  • Character Map

Your students will create amazing images like these in no time!

This free, printable Pixton lesson plan brings economic concepts to life with comics and storyboards.
This free, printable Pixton lesson plan brings economic concepts to life with comics and storyboards.
This free, printable Pixton lesson plan brings economic concepts to life with comics and storyboards.

Featured Props

Price Controls

Student creations come alive with these themed objects – in addition to our library of over 3,000 props!

  • Arrow
    Arrow
  • Box
    Box
  • Building
    Building
  • Can
    Can
  • Gavel
    Gavel
  • Line
    Line
  • Lock
    Lock
  • Money
    Money
  • Pill
    Pill
  • Sign
    Sign
Print this Teacher Guide

Teacher Guide

Price Controls

Step 1Class discussion with students

Getting Started

Before this lesson, be sure to complete the lessons on supply, demand, and determinants of demand.

Begin by reviewing with students how we find the market clearing price of any good or service. Draw supply and demand curves on a graph and have students find the intersection and market-clearing price and quantity. Stress to students that this process works only if prices are allowed to fluctuate according to supply and demand.

Opening Discussion

Introduce the concept of price controls to students. A price control is whenever a price is not allowed to move freely in one direction or another. Typically, this is the result of some sort of government action.

Tell students that there are two main types of price controls:

  • Price floor - This is a set minimum price for a good. The price is not allowed to drop any lower than the floor.
  • Price ceiling - This is the set maximum price for a good. The price cannot be any higher than the ceiling.

Explain that governments typically set price controls to try to alleviate some sort of perceived problem. However, the price controls themselves cause unintended consequences in the way of surpluses and shortages. Go over these two terms with your students:

  • Surplus - When you have excess amounts of a good for sale at a certain price. You have more good than you can get rid of. Supply is outstripping demand. Surpluses are caused by price floors.
  • Shortage - When you don't have enough of a good for sale at a certain price. People want more than is available. Demand is outstripping supply. Shortages are caused by price ceilings.

Surpluses and shortages occur any time you have a price control.

Draw two supply and demand graphs, one showing a price floor and one a price ceiling. Show students how they can see on the graph the imbalance between quantity supplied and quantity demanded.

Step 2Pixton comic-making activities
  • Make a Storyboard, Graphic Novel, or ...
    Price Floor: Minimum Wage

    Talk through various reactions on the part of both the employer and employee to help students think of what might happen in this scenario.

    View Activity
  • Make a Character Map
    Price Ceiling: Gasoline

    View Activity
  • Make a Timeline, Graphic Novel, or ...
    What Would You Do?

    After students have created their comics, have them share them with the class. This is a great lead-in to a class discussion on rent control.

    View Activity
Print this Activity

Pixton Activity: Price Controls 1 Price Floor: Minimum Wage

Featured Layouts

  • Comic Strip
  • Storyboard
  • Graphic Novel
  • Timeline

Intro

A common form of a price floor is the minimum wage. This is a set hourly rate that is the minimum that can be paid to an employee. The price for labor can't go any lower; hence, it is a price floor.

Whenever we have a price floor, we also end up with a surplus. In this case, it would be a surplus of labor. On the supply side, lots of people might be willing to work for the minimum wage, because it would represent a raise from what they were making before. On the demand side, however, employers might not be willing to hire as many people at the higher wage rate.

Instructions

Create a comic that shows what might happen at a pizza restaurant if a minimum wage were implemented. Do you think that the same number of people would be employed after the price floor was put into place? Would the number of employees go up or down, or would the type of employee simply change?

In the description or through dialogue, explain why the changes occur.

Rubric: Price Floor: Minimum Wage

Use this interactive rubric for easy, thorough assessment. It can even be used by students for self-assessment!

5 4 3 2 1
Understanding of Concepts • explains with extensive detail
• numerous connections made between concept and activity
• illustrations and descriptions are comprehensive
• explains with detail
• considerable connections made between concept and activity
• illustrations and descriptions have purpose
• explains with sufficient detail
• several connections made between concept and activity
• illustrations and descriptions have basic purpose
• explains with limited detail
• limited connections made between concept and activity
• illustrations and descriptions have little purpose
• explains with no detail
• very few connections made between concept and activity
• illustrations and descriptions have no purpose
Inquiry/Research Skills • Extensive use of details; support from a wide variety of sources
• Facts are accurate and complete
• Sources are accurately listed
• Considerable use of details; support from several sources
• Facts are accurate
• Sources are accurately listed
• Includes several relevant details; basic use of sources
• Facts are consistent
• Sources listed
• Some relevant details included; sources are limited
• Facts contain some inaccuracies
• No sources listed
• Very few relevant use of details
• Facts are inaccurate or false
• No sources listed
Communication • excellent communication of ideas
• statements are dynamic with extensive development
• descriptions are purposeful and well organized
• effective communication of ideas
• statements are powerful with appropriate development
• descriptions are concise and organized
• sufficient communication of ideas
• statements are consistent with increasing development
• descriptions are basic and organized
• poor communication of ideas
• statements are general with some development
• descriptions are limited and unorganized
• inadequate communication of ideas
• statement are general with little development
• descriptions are incomplete and unorganized
Style • correct sentence structure, grammar, spelling and punctuation; may include some errors in complex structures
• panels are highly organized with exceptional use of supporting details
• few errors in basic sentence structure, spelling, punctuation, or grammar; errors do not interfere with meaning
• panels have excellent organization with effective use of supporting details
• occasional errors in sentence structure, spelling, punctuation, or grammar; errors rarely interfere with meaning
• panels have basic organization and supporting details
• several errors in sentence structure, spelling, punctuation, or grammar; errors may make parts hard to follow
• panels have limited organization and supporting details
• repeated errors in basic sentence structure, spelling, punctuation, or grammar often make the writing hard to understand
• panels are unorganized and lack supporting details
Total
Print this Activity

Pixton Activity: Price Controls 2 Price Ceiling: Gasoline

Featured Layouts

  • Character Map

Intro

Price ceilings sometimes come in the form of anti-gouging laws. These laws state that businesses can't raise their prices in the face of extreme events. For instance, say that a hurricane was going to make landfall in the next day or two. As part of their preparations, people will load up on gasoline to be ready for the storm. So, demand sharply increases.

Even with demand through the roof, gas stations are not allowed to raise the price of gasoline because of anti-gouging laws. Basically, they are working under a price ceiling. If it were allowed to move freely, gasoline would naturally be more expensive in this situation because it is more valuable.

Instructions

Create a character map that will examine this situation. You are to imagine that a hurricane is coming, and lots of people want to load up on gasoline before it hits.

Your character map will need the following four headings:

  1. Demand (explain what is happening to demand.)
  2. Supply (explain what is happening to supply.)
  3. Surplus or Shortage (explain whether this price ceiling will create a surplus or shortage and why.)
  4. What if? (explore what you think would happen if the price were allowed to move freely.)

Finally, in the center illustration, show what you think will happen at gas stations as people try to fill up their tanks.

Rubric: Price Ceiling: Gasoline

Use this interactive rubric for easy, thorough assessment. It can even be used by students for self-assessment!

5 4 3 2 1
Understanding of Concepts • explains with extensive detail
• numerous connections made between concept and activity
• illustrations and descriptions are comprehensive
• explains with detail
• considerable connections made between concept and activity
• illustrations and descriptions have purpose
• explains with sufficient detail
• several connections made between concept and activity
• illustrations and descriptions have basic purpose
• explains with limited detail
• limited connections made between concept and activity
• illustrations and descriptions have little purpose
• explains with no detail
• very few connections made between concept and activity
• illustrations and descriptions have no purpose
Inquiry/Research Skills • Extensive use of details; support from a wide variety of sources
• Facts are accurate and complete
• Sources are accurately listed
• Considerable use of details; support from several sources
• Facts are accurate
• Sources are accurately listed
• Includes several relevant details; basic use of sources
• Facts are consistent
• Sources listed
• Some relevant details included; sources are limited
• Facts contain some inaccuracies
• No sources listed
• Very few relevant use of details
• Facts are inaccurate or false
• No sources listed
Communication • excellent communication of ideas
• statements are dynamic with extensive development
• descriptions are purposeful and well organized
• effective communication of ideas
• statements are powerful with appropriate development
• descriptions are concise and organized
• sufficient communication of ideas
• statements are consistent with increasing development
• descriptions are basic and organized
• poor communication of ideas
• statements are general with some development
• descriptions are limited and unorganized
• inadequate communication of ideas
• statement are general with little development
• descriptions are incomplete and unorganized
Style • correct sentence structure, grammar, spelling and punctuation; may include some errors in complex structures
• panels are highly organized with exceptional use of supporting details
• few errors in basic sentence structure, spelling, punctuation, or grammar; errors do not interfere with meaning
• panels have excellent organization with effective use of supporting details
• occasional errors in sentence structure, spelling, punctuation, or grammar; errors rarely interfere with meaning
• panels have basic organization and supporting details
• several errors in sentence structure, spelling, punctuation, or grammar; errors may make parts hard to follow
• panels have limited organization and supporting details
• repeated errors in basic sentence structure, spelling, punctuation, or grammar often make the writing hard to understand
• panels are unorganized and lack supporting details
Total
Print this Activity

Pixton Activity: Price Controls 3 What Would You Do?

Featured Layouts

  • Comic Strip
  • Storyboard
  • Graphic Novel
  • Timeline

Instructions

Given what you've learned about surpluses and shortages, would you recommend price controls?

Pretend that you are a government official. Write a comic that shows someone requesting a price ceiling on rent in your city. This would mean that landlords couldn't charge above a certain amount for rent.

Why would someone ask for rent control? And how would you respond?

Rubric: What Would You Do?

Use this interactive rubric for easy, thorough assessment. It can even be used by students for self-assessment!

5 4 3 2 1
Understanding of Concepts • explains with extensive detail
• numerous connections made between concept and activity
• illustrations and descriptions are comprehensive
• explains with detail
• considerable connections made between concept and activity
• illustrations and descriptions have purpose
• explains with sufficient detail
• several connections made between concept and activity
• illustrations and descriptions have basic purpose
• explains with limited detail
• limited connections made between concept and activity
• illustrations and descriptions have little purpose
• explains with no detail
• very few connections made between concept and activity
• illustrations and descriptions have no purpose
Inquiry/Research Skills • Extensive use of details; support from a wide variety of sources
• Facts are accurate and complete
• Sources are accurately listed
• Considerable use of details; support from several sources
• Facts are accurate
• Sources are accurately listed
• Includes several relevant details; basic use of sources
• Facts are consistent
• Sources listed
• Some relevant details included; sources are limited
• Facts contain some inaccuracies
• No sources listed
• Very few relevant use of details
• Facts are inaccurate or false
• No sources listed
Communication • excellent communication of ideas
• statements are dynamic with extensive development
• descriptions are purposeful and well organized
• effective communication of ideas
• statements are powerful with appropriate development
• descriptions are concise and organized
• sufficient communication of ideas
• statements are consistent with increasing development
• descriptions are basic and organized
• poor communication of ideas
• statements are general with some development
• descriptions are limited and unorganized
• inadequate communication of ideas
• statement are general with little development
• descriptions are incomplete and unorganized
Style • correct sentence structure, grammar, spelling and punctuation; may include some errors in complex structures
• panels are highly organized with exceptional use of supporting details
• few errors in basic sentence structure, spelling, punctuation, or grammar; errors do not interfere with meaning
• panels have excellent organization with effective use of supporting details
• occasional errors in sentence structure, spelling, punctuation, or grammar; errors rarely interfere with meaning
• panels have basic organization and supporting details
• several errors in sentence structure, spelling, punctuation, or grammar; errors may make parts hard to follow
• panels have limited organization and supporting details
• repeated errors in basic sentence structure, spelling, punctuation, or grammar often make the writing hard to understand
• panels are unorganized and lack supporting details
Total

Example Comic Strip

Rent Control by Student

Here's the link to share this comic:

Find more lesson plans:

  • MADE AT PIXTON.COM