AP Economics – 9/06/18

 

I.  Bellwork: Q&A

 

A.  Economics Make You Selfish

1. Explain evidence provided in the article that supports the claim that economics teachers and students are more selfish?
2. Explain whether you consider yourself a selfish person? 

II.  Objectives:

• Discuss and use terms and concepts as they are applied in Economics
• Analyze, explain and graph  the various factors that can contribute to changes in the PPC

III.  Discussion

A.  Economic Terminology

• Marginal Analysis
• Price  & Cost
• Capital & Consumer Goods
• Productivity

B.   Shifting the Production Possibilities Curve (PPC)- Econ 1.2

• Productive & Allocative Efficiency

IV,  Notebook Work

A.  Copy the Schedule Below

• Label and plot the Production Possibility Frontier Curve
• Create a table to determine the opportunity cost at every point
• Write & Answer the two questions below

1. Describe 2 situations which would cause production to be at a point inside of the curve.
2. Describe what a point outside the curve means.

Military Goods (Guns)	5000	4800	4500	4000	3300	2000	0
Consumer Goods (Butter)	0	1000	2000	3000	4000	5000	6000

 

AP Economics