Economics – 9/23/19
I. Bellwork Q&A
- What is happening in the cartoon?
- Explain the point that is being made about communism?
- 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. Functions of Government in the Economy – Construct a Tree Map Pgs. 52-53
A. Identify the role government has in each as either: protector, provider, or regulator
- Environmental Protection Agency
- Food and Drug Administration
- Libraries
- Federal Communications Commission
- Consumer Product Safety Commission
- Highways and Roads
- Agricultural subsidies
- Education
- Federal Bureau of Investigation
- Securities and Exchange Commission
- Interstate Commerce Commission
- Supreme Court
IV Test Tuesday
Understand and Review the following
- Characteristics of the 3 types of Economies – Figure 2.1
- Mixed Economy-Figure 2.2
- 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
V. Classwork/Exit ticket
Examine Figure 2.1 or 2.3. Identify a word you are unfamiliar with and construct a Frayer Diagram
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