Economics – 2/10/2016
I. Bellwork:
Adam Smith Division of Labor– Q&A
- Explain any difficulties you have with the text. List words and phrases that are unfamiliar.
- What is the importance of the division of labor according to Adam Smith?
- What evidence/example does he use to make his point?
- What claim is Adam Smith is attempting to make regarding the division of labor?
II. SWD the ability to:
- Cite specific textual evidence to support analysis of primary and secondary sources, connecting insights gained from specific details to an understanding of the text as a whole.
- Create examples of economic decisions identifying trade-offs and opportunity costs while examining the impact they have on the decision making process.
III. Section 1-2 Flash Card Review
IV. Trade offs & Opportunity Costs Explained
- https://www.reffonomics.com/TRB/chapter1/opportunitycost.swf
- Short Video On Opportunity Costs/Trade Offs
- Opportunity Cost Video Examples
- https://www.economist.com/blogs/graphicdetail/2014/06/daily-chart-1
V. Notebook Work – Copy Diagram
VI. Notebook Check Today
VII. Classwork
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