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

Economics F2019