Economics – 2/06/14

I.  Bellwork:

1. If you had up to $100 to spend on only one product or service, make a list of at least 4 possible products or services you would consider purchasing with the $100.
2. Now narrow the list to the top two choices
3. Now list the item or service you would purchase.
4. By making your selection, what are some of the things you would sacrifice related to the next best product or service you gave up?

II.  SWD the ability to:

• Create examples of economic decisions identifying trade-offs and opportunity costs while examining the impact they have on the decision making process.
• Integrate and evaluate multiple sources of information  in order to address a question or solve a problem.

III.       Trade offs & Opportunity Costs Explained

            https://www.reffonomics.com/TRB/chapter1/opportunitycost.swf

IV.  Notebook Work –

A.  Copy Diagram

 

 B.  Example Trade Offs and Opportunity Cost of Going to School

V.  Notebook Check Tomorrow

VI.  Go to Media Center for the Quiz

• Complete Section 1-1 & 1-2 Quiz on iLearn

V.  Extra Credit – Participation Signature

• Write down one of the questions on the list and respond to it using 2-4 sentences.
  • Survey Questions

Economics W2014