We will go over the chapter 1-2 test from yesterday. Check the chapter 4 section 1-2 terms and begin discussing how to plot demand curves. We may get chapter 4 section 1 worksheets (demand WS), if not they will happen tomorrow.
Audible Tone: What is the Law of Demand?
We will go over the chapter 1-2 test from yesterday. Check the chapter 4 section 1-2 terms and begin discussing how to plot demand curves. We may get chapter 4 section 1 worksheets (demand WS), if not they will happen tomorrow.
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Audible Tone: Explain EACH of the four factors of production.
Test on chapter 1-2 today. Read/define chapter 4 sections 1-2 for tomorrow. Audible Tone: What does a mixed economy take from a market economy? From a centrally planned economy?
We will go over the chapter 2 worksheets in class. We will also do vocab review in class (chap 1-2). Test review will also be done. Chapter 1-2 test is Wednesday. Audible Tone: Explain the biggest problem of a centrally planned economy.
We will finish the Stalin biography video showing negatives of a centrally planned economy. We will discuss what a mixed economy is. There will be chapter 2 worksheets for homework. Test on chapter 1-2 is on Wednesday. Audible Tone: What countries are centrally planned today? How are they doing? Turn in.
We will discuss the group work from yesterday about the good and bad of centrally planned economies. After that, we will watch the biography of Joseph Stalin as an example of worst case scenario in a centrally planned economy. Test on chapter 1 and 2 will be on Wednesday of next week. Audible Tone: Explain the biggest problem of a market economy. We will cover the 4 pillars of free enterprise today along with a short video on price systems. There will also be a group work to explain what is good and bad about centrally planned economies. 10 points. Below is the power point on market economies from Tuesday.
Audible Tone: What two things are needed for the invisible hand to work? Explain each one.
Go over the problems for Adam Smith and the invisible hand. Notes on the four pillars of free enterprise as well. Audible Tone: Explain what a traditional economy is.
We will discuss the 2/2 terms (from Friday) with focus on market economies and their adv/dis. Towards the end of class, we will do the Adam Smith writing. Audible Tone: Explain opportunity cost and give an example. Turn in.
We will go over the worksheets in class. We will also begin discussing chapter 2 and the three economic questions to consider when evaluating an economic system. Traditional economies will be looked at as well. We will do Chapter 2 section 2 key terms as well. Audible Tone: Why include entrepreneurship as a factor of production?
Today we will read/define chapter 1 sections 2-3 key terms. We will discuss opportunity cost, marginal cost/benefit, and production possibility frontiers. Chapter 1 section 2-3 worksheets will be given for homework. |
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