Economics 2/05/2015

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? So, do not list the product 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
• https://www.economist.com/blogs/graphicdetail/2014/06/daily-chart-1

IV.  Notebook Work –  Copy Diagram

V.  Notebook Check Tomorrow

VI.  Complete Section 1-1 & 1-2 Quiz on iLearn

VII. Classwork:

• READ: Worksheet 1.4 Rational Behavior
• Write questions & Answers 1-3

 

Economics W2015