Economics – 3/02/2016

I. Bellwork              Q&A

1. What is happening in the cartoon?
2. Explain the point that is being made about communism?
3. Explain the point that is being made about capitalism?

II.  Objective:

• Review concepts and principles which focus on how economic systems allocate resources, the evaluation of economic performance, and the role of government in the economy.
• Examine the economic freedoms and rights associated with living in a market economy and explore additional economic freedom/rights that may be needed.
• Draw evidence from  informational texts to support analysis, reflection, and research.

III.  Test Tomorrow (Thursday)

A.  Understand and Review the following

• Characteristics of the 3 types of Economies – Figure 2.1
  • 2.1 Flashcards
• Mixed Economy-Figure 2.2
  • 2.2 Flashcards
• Economic Goals and Examples – See your notes
• Impact of Inflation
• Minimum wage & Trade offs
• Characteristics of Free Enterprise Capitalism (Fig 2.3)
• Consumer’s Role in the Economy
• Entrepreneur’s role in the Economy
• Modified Free Enterprise Economy
• Conflicting Economic Goals
• Roles of Government & many examples of each
  • 2.3 Flashcards
• Additional Review Questions

IV.  Learning Targets Sheet: Chapter 2

Economics W2016