Economics – 3/02/17

I.    Bellwork              Questions & Answers

1. Describe what is happening in the cartoon.
2. Explain the point that is being made about communism?
3. 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.  Chapter 2  (Friday)

A.  Understand and Review the following

• Characteristics of the 3 types of Economies – Figure 2.1
  • 2.1 Flashcards
• Mixed Economy-Figure 2.2
  • 2.2 Flashcards
• 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
  • 2.3 Flashcards
• Additional Review Questions

IV.  Videos:

• Daily Show Capitalism
• Daily Show Socialism

V.  Classwork (Group Work)  4 or less

•  Economic System for Survival

 

Economics W2017