Economics – 9/06/18
I. Bellwork
- Procedure Quiz on iLearn
II. Objectives
- 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. Quick Review of Section 1.1
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
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