The creators of insulin famously sold their patents for $1, stating it should belong to the world. Why has it become so expensive?

After a drug has been on the market for 20 years it typically loses patent protection, allowing competitors to create generic versions and driving down prices. Unfortunately, this has not been the case for this life-saving treatment. Discuss this with your students in NGPF's new 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: Insulin

• So Expensive - Insulin (Nearpod)
• So Expensive - Insulin (No-Tech)

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View answers to frequently asked questions about how to implement the So Expensive series activities with your students.

 
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 ryan@ngpf.org

Looking for more ways to introduce economics into your personal finance classroom? Check out NGPF’s Econ Collection!

About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.