Aug 28

AP Economics – 8/29/19

I.  Bellwork: Follow the directions below:

A.  Use a diagram (See yesterday’s diagram) to illustrate the trade-offs and opportunity cost below:

  1. If you had up to $100 to spend on only one product or service, make a list of at least 4 possible products or services you would consider purchasing with the $100.
  2. Now narrow the list to the top two choices
  3. Now list the item or service you would purchase.
  4. Under the diagram describe some of the things you would sacrifice (opportunity cost) related to the next best product or service you gave up?

II.  Objectives – SWD:

  • how scarcity and opportunity costs are present in economic decisions by constructing a production possibilities frontier graph.
  • the ability to make decisions involving trade-offs and opportunity costs explaining  the factors which influence their decision in relation to those economic concepts

III.  Identifying Trade-offs and Opportunity Costs 

B.  Production Possibilities Frontier 

  1. Production Possibilities Curve- Econ 1.1
  2. Shifting the Production Possibilities Curve (PPC)

IV.  Classwork/Homework

  1. Copy the Schedule Below
    • Label and plot the Production Possibility Frontier Curve
    • Write & Answer the two questions below
  2. Describe 3 situations which would cause production to be inside of the curve.
  3. Describe what a point outside the curve means.
Military Goods (Guns)5000480045004000330020000
Consumer Goods (Butter)0100020003000400050006000
Aug 28

School Store – 8/28/19

I.   Bellwork

  • Learning Plan on Google Classroom

II.    Objective:

Discuss and become familiar with classroom policies and procedures in order to have a successful semester.

III.  Classwork – Acknowledgment on Google Classroom
*Technology Use Agreement

*Syllabus

*Cell Phone Policy

IV. Classwork: Go to the DECA website

Find your event and its related sample event on the website

Read the sample event

*Write down all the Performance Indicators

*Write down the questions the judge will ask

*Answer each question fully (at least 1 paragraph) in relation to the performance indicators.

Aug 28

AP Economics – 8/28/19

I.    Bellwork Q&A

A.  Read (What is Economics?)

  1. What is the author’s claim?
  2. Provide two examples of evidence the author employs

II.   Objectives

  • Determine the meaning of words and phrases as they are used in a text through discussion and examples
  • Construct thinking maps using examples, explain how scarcity, choice, opportunity costs affect decisions that households, businesses, and governments make and explain how comparative advantage creates gains from trade.

III.  Discuss:  The Fundamental Economic Problem 

  • Scarcity
  • Factors of Production
  • Micro & Macro Economics
  • Positive & Normative Statements

IV.  Trade offs & Opportunity Costs Explained

V.   Notebook Work – Create Thinking Maps

VI. Review Questions on AP Classroom

Aug 26

All Classes – 8/27/19

I.  Bellwork:

  • What are some things that you believe you may learn in this class this semester?

  II. Objectives:

  • Discuss and become familiar with the requirements and expectations at MBCC and in the course.
  • Reflect upon individual strengths and weaknesses
  • Read, discuss, and review the course syllabus

III. Please complete the Personal Inventory on Google Classroom

IV. Course Syllabus

Accounting1-3 Sequence Syllabus

2019 Economics Syllabus