Economics – 2/11/13

I. Bellwork

A. Economic Analysis Write Questions &Answers

• Pg 21 Figure 1.6 Economic Analysis
• Pg 22 Figure 1.7 Economic Analysis (Start at Point B)
• Pg 22 Figure 1.8 Economic Analysis

II. Objective

• Examine economic decisions and how economic models, such as the production possibilities frontier, are used in the decision making process.
• Determine the meaning of words and phrases as they are used in a text

III. Classwork

A. Page 19 Terms (9)
B.  Page 25 2-6 Q&A
C.  Copy the Schedule Below

• Label and plot the Production Possibility Frontier Curve
• Write & Answer the two questions below

1. List three things that may occur which would cause production to be inside of the curve.
2. List three things that may occur which would cause production to be outside the curve.

Military Goods (Guns)	40	35	30	25	20	0
Consumer Goods (Butter)	0	3	4	5	6	8

3.   Exit Ticket:  How confident are you about the next exam? 1-5

1- Not Confident – 5.  Bring it on

IV.  Review for Test on Wednesday– Chapter-1-Review-Sheet

Economics W2013