Economics – 11/15/19

I.  Bellwork

Questions & Answers

1. What is happening in the picture? (Not a fire.)
2. Who is impacted?
3. How are they impacted?
4. Why do you believe this is being allowed?

II.  Objective:

• Identify common circumstances related to market failures and the impact externalities have on society.
• Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence
• Determine central ideas of a text and analyze their development over the course of the text, including how they interact and build on one another to provide a complex analysis;

III.  Retakes Tuesday after school (I leave at 3:20)

IV.  Video & Discussion

A. Externalities

B. Externalities: When Is a Potato Chip Not Just a Potato Chip?

V.  Notebook Work/Discussion:

A. Tree Map: Causes of Market Failures-Pgs 180-181

B. Distinguish between a positive and negative externality

C. Identify methods the government uses to discourage negative externalities and encourage positive externalities

D. Provide examples of a positive externalities  and explain how they impact 3rd party positively.

E. Provide examples of a negative externalities  and explain how they impact 3rd parties negatively.

VI.  Classwork

• Page 179 Vocabulary (7)
• P 183 2-6 Q&A

Economics F2019