I. Bellwork–
A. Compare the cartoon to the Circular Flow diagram Figure 1-3 on page 15
Q & A
- Describe how the diagrams differ?
- Explain the message of this cartoon?
- What is your opinion of the cartoon?
II. Objectives – SWD:
- how scarcity and opportunity costs are present in economic decisions by analyzing 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
- the ability to determine the central idea of a satirical cartoon in relation to the economic concept it is portraying.
III. Discussion
A. Shifting the Production Possibilities Curve
B. Production Possibilities Frontier Activities
- Pg 21 Figure 1.6 Economic Analysis
- Pg 22 Figure 1.7 Economic Analysis (Start at Point B)
- Pg 22 Figure 1.8 Economic Analysis
IV. Classwork
A. Page 19 Terms (9)
B. Page 25 2-6 Q&A
V. Review for Test on Thursday
VI. Chapter-1-Review-Sheet due Thursday