Check the worksheets from yesterday. Watch a 16 mm silent film that shows Laurel and Hardy as door to door Christmas tree salesmen. We will also watch another short film.
Audible Tone: Why do demand curves always go down and to the right? Turn in.
Check the worksheets from yesterday. Watch a 16 mm silent film that shows Laurel and Hardy as door to door Christmas tree salesmen. We will also watch another short film.
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Audible Tone: Plot the following for demand- P $0 Q 20, P $ 1 Q 18, P $2 Q 16, P $3 Q 4, P $4 Q2, P $5 Q 0
Today we will go over the demand worksheets from yesterday, discuss the difference between a change in quantity demanded and a change in demand, and we will get the last worksheets for this year. Hee Hee. Audible Tone: Explain the law of demand.
Go over tests from yesterday. Discuss demand and how to plot a demand curve. Worksheets on demand. Audible Tone: Explain each of the four factors of production.
Today is our test on chapter 1-2. When finished, read/define chapter 4 section 1-2 key terms. Audible Tone: Explain what a mixed economy is a mixture of.
Today we will go over the chapter 2 worksheets from Friday. There will be vocab review in class. We will review for the chapter 1-2 test which is tomorrow. Audible Tone: Explain the biggest problems of a centrally planned economy. Turn in. We will watch the biography of Stalin video in class, a brief discussion of mixed economies, and receive chapter 2 worksheets for homework.
Audible Tone: What countries are centrally planned today? How are they doing?
We will finish the group work from yesterday and discuss in class. Towards the end of class we will begin watching the biography of Joseph Stalin. Audible Tone: Explain the biggest problem for a true market economy.
Today we will be covering the 4 pillars of free enterprise. This looks at four features that are important for a market economy to work. We will get in groups of 4 or less and explain what is good and bad about centrally planned economies. This is worth 10 points. This assignment will be given some time tomorrow to finish up in class. Audible Tone: Explain each of the two items needed for the invisible hand to work. What does each do? We will be discussing the problems of Adam Smith and the invisible hand in today's economy. I will be giving notes on the 4 pillars of free enterprise. There will be a short video (with great acting) on the price system.
Audible Tone: Explain what a traditional economy is.
For today, we will read/define chapter 2 section 2 in class. We will discuss market economies, Adam Smith, and the invisible hand. There will be an individual writing assignment. Adam Smith argued that as long as there is self-interest (looking out for what is best for you) and competition (lowers prices and more choices), the invisible hand will regulate the market. There will be no need to have government regulation since the invisible hand will do that. However, today we have all sorts of regulations from the government (minimum wage, health inspectors, car safety standards, pollution controls). Why is this? What problems are there for Adam Smith and the idea of the invisible hand in today’s economy? ½-1 page. 10 points |
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