Economics – 4/29/13

I.  Bellwork: Q&A

A. Page 242 Economic Analysis

B. Page 244 Economic Analysis

II.  Objective:

• Analyze the ways in which local, state, and federal governments generate revenue.
• Determine the meaning of words and phrases as they are used in a text

III.   Video –     How the Government Spends, Collects, & Owes

IV.  Notebook Work:

 

V.  iLearn Quiz – Chapter 9-1 & 9-2 Quiz online Today- Wednesday @ 3:30

What to study:

• Objectives for Sections 9-1 & 9-2
• Know vocabulary words
• Progressive, Regressive, and Proportional tax & Examples of each
• Guided Reading 9-1- Ability to Pay & Benefit Principle
• Incidence of a tax/graphs pg 231
• Impact of a tax on producers and consumers(inelastic/elastic conditions)
• Types of taxes pg 235
• Federal Revenue Sources  (Pie Chart Above)
• State & Local Revenue Sources p 242
• Page 255 Visual Summaries

VI.  Classwork

• Page 238 Content Vocabulary 15
• Page 245 # 2, 3, 7 Q&A
• Pages 251-253

• Describe Flat Tax and list its advantages (3) and disadvantages (3)
• Describe Value Added Tax and list its advantages (4) and disadvantages (1)

Economics W2013