Economics – 5/09/12
I. Bellwork: Q&A
Which of the following would be included in the GDP of the United States?
| Haircut by a barber | Washing your dishes |
| Money from illegal gambling | A car built in Michigan and shipped to Brazil |
| Clothes bought at a resale shop | Limousine service for prom |
| A Toyota made in Tennessee | A car made by Ford in Mexico |
| Baking a cake for your mother | TV made in China |
| Partially completed highway | Buying lunch at Fordson |
II. Objective
- Examine the importance of entrepreneurs in the economy as they attempt to obtain capital and financing.
- Observe how factor markets and product markets operate.
III. Think about your Economics Poster Board Project due 5/18
IV. Extra credit-Budgets due on Friday 5/11/12
V. Chapter 9 & 10 Retake: Friday after school 2:30 in A205
- Bring a paragraph per section (6).
VI. Classwork-Shark Tank-Video link below questions
https://abc.go.com/watch/shark-tank/SH559076/VD55195890/week-12
A. Write down these questions to answer for each entrepreneur and turn them in today.
- What is the product/service or idea?
- What is the entrepreneur asking for and what are they willing to give up?
- What decision was made?
- What is your opinion?
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