Situation in Venezuela

There are many economic lessons to be learned from the situation in Venezuela. The country is in a very sad state. With that said, I am starting my supply and demand unit with my CP class. This video and the article are great bell ringers and can be used for a whole host of economic lessons. From the FOREX market to inflation, to price controls, and a general discussion on the fact that even if a country is flush with natural resources if the price drops or there are no means by which to foster that resource, it can make the country worse off.