Economics – 2/05/14

I.  Bellwork :  Q&A

• Provide two examples of durable goods
• Provide two examples services

II.  Students Will Demonstrate:

• the ability to correctly use and apply basic economic terms and concepts through the flashcard review
•  the ability to identify and analyze central ideas or information of a primary or secondary source through read and share activity involving Adam Smith
• insight related to the assembly line, productivity, and economic interdependence by discussion of cartoon and video.

III. Quiz Thursday: Section 1-1, Section 1-2 & Procedures

• Section 1-2 Flash Card Review

IV.  Classwork

A.  Profiles in Economics:  Adam Smith  Page 18

Create a two columns on your paper.  In the first column, write Adam Smith’s economic ideas and in the second column explain/describe the idea.

B.  Video – Fordism 1920s USA

• Summarize some of the methods Ford implemented to increase productivity and the impact it had on his workers

C.  Cartoon Interpretation

1. Describe what is happening in the  illustration below?

2.  What economic concept is involved? Explain.   (See end of Section 1-2)

Economics W2014