Economics – 9/23/19

I.  Bellwork           Q&A

1. 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.   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
  • 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

 V.   Classwork/Exit ticket

Examine Figure 2.1 or 2.3.  Identify a word you are unfamiliar with and construct a Frayer Diagram

Economics F2019