Economics – 9/13/13
I. Bellwork
A. Use the graphic below as an outline for what you plan on doing after school today. You must have at least 3 trade-offs.
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, phrases, and the application of concepts as they are used in a text
III. Discussion Section 1-3 pages 19-20
A. Identifying Trade-offs and Opportunity Costs Pgs 19-23
1. Example: How to spend Friday night?
2. Short Video On Opportunity Costs/Trade Offs
B. Production Possibilities Frontier Pgs 21-23
1. Production Possibility Frontier Video 1
2. Production Possibility Frontier Video Part 2
3. Production-possibilities Curve, I
IV. Classwork
A. Page 19 Terms (9)
B. Page 25 2-6 Q&A
V. Review for Test on Tuesday– Chapter-1-Review-Sheet
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