How Much Does it Cost - PAST, PRESENT, FUTURE?

A Webquest on Percent of Change

Scenerio

Can you imagine paying only a penny for a gumball?  That is what your parents paid when they were your age!  If this trend continues, can you imagine what a gumball will be worth when you are 45 years old?  Let’s find out!   You will use this Web Quest to investigate how your life compares to your parents.  Then, you will predict the future!

Past- Investigation # 1

Use the given links to find the cost of each of the items listed below during the given year.  Record your answers in the PAST – Cost column of your History Log. 

Food: Go to http://foodtimeline.org/foodfaq5.html to find the prices of the following food items.

• McDonald's Hamburger 1979
• Hershey's Bar 1974
• 6 Pack of Pepsi 1972

Transportation: Click on the link provided to find the value of the requested item.

• Gas - CLICK HERE to access the average price of gas in 1975
• Car -Base Retail Price of a 1977 Corvette  http://www.rogerscorvette.com/specs/77.htm

Salary:  Click on the link below to find the minimum hourly wage in 1975 according to the 1938 Act.  http://www.dol.gov/whd/minwage/chart.htm

 Present - Investigation #2

Use the given links to find the current (2012) cost of each of the items listed below.  Record your answers in the PRESENT column of your History Log.

Food: Click on the links below to find the prices of the following food items.
 

• McDonald’s Hamburger:  The current price is $0.80.
   
• Hershey’s Bar :  http://store.drsoda.com/herplainchoc.html
   
• 6 pack of Pepsi:  The current price is $2.49.
   

Transportation: 

Click on the links below each item to find the value of the requested item.

• Gas:  Use the following link to record today’s gas price at the Chevron station on NE 167th Street

http://www.internetautoguide.com/21-5-33162/gas-prices-33162.html?zipcode=33162

• Car:  Corvette – Use the following link to record the lowest MSRP for a 2013 Chevrolet Corvette Base Coupe.    http://www.motortrend.com/cars/2013/chevrolet/corvette/base_coupe/313/pricing/

Salary:  Click on the link below to find the minimum hourly wage in Florida as of January 2012.

http://www.dol.gov/whd/minwage/america.htm#Florida

FUTURE – Calculations: 

1. Calculate the percent change of each item from the 1970’s to today.  Record your answers in the PERCENT CHANGE column of the History Log.
    
2. Find the average of all of the items in the Percent Change column.  Record your work and your answer on your History Log.

CONCLUSION: 

1. What item had the greatest percent change?  Why do you think this is the case?
    
2. What item had the smallest percent change?  Why do you think this is the case?
    
3. If a gumball costs 25 cents now, predict the price of a gumball in 30 years.  Can you imagine paying that much?
    
4. What impact does this research have on your future?