Yesterday, in the Business and Economics seminar, we took a deep dive into microeconomics. We focused on several foundational economics concepts, including opportunity cost, supply and demand, comparative advantage, and elasticity. To understand how these concepts apply to the real world, we headed into Westwood Village and split ourselves up to visit two different coffee shops (one small business and one domestic chain). In teams of five, we analyzed the businesses through the lens of the day’s key terms and later presented our thoughts back in class. As we explained our detailed observations about each shop, we were able to show how the day’s theories apply to the kinds of businesses with which we interact every day.

— Pre-College UCLA