Economics – 9/21/15

I.  Bellwork–

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

Questions & Answers

1. Describe how the diagrams differ?
2. Explain the message of the cartoon?
3. What is your opinion of the cartoon?

II.   SWD:

• the ability to construct a production possibilities frontier and analyze various situations which would cause deviations to operating at capacity.
• the ability to evaluate various explanations for actions or events using production possibility frontiers and determine which explanation(s) best accords with textual evidence.

III. Discussion

• Production Possibilities Frontier Activities
  • PPC__Scarcity__Trade-offs_Opp_Costs
  • 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 Tuesday

Chapter-1-Review-Sheet due Tuesday (summative points)

• Review iLearn Quiz
• Section 1-2 Flash Card Review
• Section 1-1 Review

Economics F2015