Economics – 2/08/16
I. Bellwork
II. Objective
- Examine basic economic terms and concepts related to goods/services, paradox of value, and the flow of economic activity.
- Summarize the author’s main point and identify evidence/examples used in the excerpt.
III. Blog and iLearn Basics Discussion
IV. Section 1-2 Notes and Discussion: Pages 12-16
A. Terms & Concepts to Know
- Goods & Services
- Durable & Non Durable Goods
- Consumers & Consumer Goods
- Value = Scarcity + Utility
- Paradox of Value
- Wealth
- Factor market &Product Markets -Circular Flow
V. Notebook Work
VI iLearn Quiz – Thursday Section 1-1, Section 1-2 & Procedures
VII. Quick Review: https://www.flashcardmachine.com/p/Section11
VIII. Exit Ticket
- List and explain the concepts you believe that you know.
- Is there anything you still need to review? Explain why or why not.
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