Economics – 1/14/15

I.  Bellwork: Four Square

Adam Smith Quote

II.  Objective:

• Examine how absolute and comparative advantage is determine and how these advantages are applied to create beneficial trade.
• Determine the central ideas or information of a primary or secondary source; provide an accurate summary that makes clear the relationships among the key details and ideas.
• Integrate and evaluate multiple sources of information presented in diverse formats in order to address a question or solve a problem

III.  16-1 Discussion Video & Notes

• List two states and a product each state has an advantage producing.
• List two countries and a product each country has an advantage producing.

• Chapter_16-1
• Episode 34: Comparative Advantage & Trade

• Squanderville v Thriftville

IV.  Absolute & Comparative Advantage Exercises

V.  Classwork

• Absolute-Comparative-WS-1V.
•   /Comparative & Absolute Advantage SheetEit Ticket

Today, I learned about……..

The thing I found the most interesting was……

The difference between an absolute and a comparative advantage is ……….

Nations use comparative advantage to…………………………..

 

P 441 Vocab (8)

Pg 445 2-8 Q&A

Economics F2014