Sep 09

Economics – 9/10/19

I.    Bellwork–

A.  Compare the cartoon to the Circular Flow diagram Figure 1-3 on page 15

Q & A

  1. Describe how the diagrams differ?
  2. Explain the message of this cartoon?
  3. 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

Sep 09

Accounting – 9/10/19

I.  Bellwork: on Google Classroom

II.  Objectives:

  • Interpret and record transactions and their impact on the accounting equation
  • Compare and contrast the types of transactions that increase and decrease owner’s equity.
  • Differentiate between transactions involving accounts receivable and accounts payable
  • Interpret and analyze financial transactions in order to properly recording them based on GAAP

III.  Classwork on Mind Tap

  • Working Together 1-3 & Own Your Own 1-3
  • Application Problem 1-3
  • Application Problem 1-4

IV.  Test on Thursday

Sep 09

AP Economics – 9/09/19

I.  Bellwork:  AP Central 1.2 Economic Systems

II  Objectives:

  • Explain how the principle of diminishing marginal utility applies to the consumption of most goods and services
  • Analyze and interpret economic modules in order to determine optimal solutions
  • Construct economic models and calculate marginal utility and marginal utility by dollar
  • Utilize marginal analysis to find the optimal consumption bundle

III.  Utility Maximization pgs. 514-523

Discussion:   iLearn Chp 2 PPT Folder 2.7

IV.  Classwork:  On iLearn:: 2.11 & 51.2

V.  Test on Wednesday

Sep 09

Economics – 9/09/19

I.   Bellwork: Follow the directions below:

  • 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.
  • Now narrow the list to the top two choices
  • Now list the item or service you would purchase.
  • 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.  Trade offs & Opportunity Costs Explained

IV.   Notebook Work –  Copy Diagram

V.   Discussion Production Possibilities Frontier Pgs 21-23

VI.   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 shift inside of the curve.
  3. Describe 3 situations which would cause production to shift outside the curve.
Military Goods (Guns)5000480045004000330020000
Consumer Goods (Butter)0100020003000400050006000

Sep 09

Accounting – 9/09/19

I.   Classwork

  • MindTap  Working Together 1-2  & On Your Own 1-2

II.  Objectives:

  • Interpret and record transactions and their impact on the accounting equation
  • Compare and contrast the types of transactions that increase and decrease owner’s equity.
  • Explain the difference between expenses and liabilities.
  • Interpret and analyze financial transactions in order to properly recording them based on GAAP

III.  Interested in joining DECA – membership money collected on Friday $25.00

IV.  Discussion:   1-3 PPT on iLearn

  1. Sales – Increase Equity
  2. Expenses and Withdrawals – Decrease Equity
  • Received Cash from Sales
  • Sold Services on Account
  • Paid Cash for Expense
  • Received Cash on Account
  • Paid Cash to Owner for Personal Use

V.  Classwork

Working Together 1-3 & Own Your Own 1-3