Economics – 9/28/18

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 Monday

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.  Classwork

• 2-2 & 2-3 Quiz Corrections – write out question/wrong answer and corrected answer
  

Economics F2018