Economics – 9/21/10

I. Bellwork

Page 19- Vocabulary (9)

Pg 21 Figure 1.6 Economic Analysis

Pg 22 Figure 1.7 Economic Analysis

II.Objective

• Examine economic decisions and how economic models, such as the production possibilities frontier, are used in the decision making process.

III.  Economics USA:  Resources and Scarcity

Wilderness preservation and WWII productivity show how society allocates and transforms resources.

Questions

1. Explain the 2 main choices that had to be made during the Alaskan land issue.
2. What 2 choices had to be made during WWII?
3. What did the production possibilities frontier look like before WWII? Why?
4. What did the production possibilities frontier look like after WWII?  Why?
5. What problems did the US textile industry face?
6. What did the U.S. Supreme Court decide?
7. What was the result of this regulation on the textile industry?

IV.  Turn in Notebooks

V.  Chapter 1 Test Thursday

Economics F2010