{"id":15958,"date":"2018-09-11T23:15:47","date_gmt":"2018-09-12T03:15:47","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/farhoud\/?p=15958"},"modified":"2018-09-11T23:16:29","modified_gmt":"2018-09-12T03:16:29","slug":"economics-9-12-18","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2018\/09\/11\/economics-9-12-18\/","title":{"rendered":"Economics &#8211; 9\/12\/18"},"content":{"rendered":"<p><strong>I.\u00a0 \u00a0Bellwork: Follow the directions below:<\/strong><\/p>\n<ul>\n<li>If you had up to $100 to spend on <b>only one<\/b> product or service, make a list of at least 4 possible products or services you would consider purchasing with the $100.<\/li>\n<li>Now narrow the list to the top two choices<\/li>\n<li>Now list the item or service you would purchase.<\/li>\n<li>Describe some of the things you would sacrifice (opportunity cost) <b>related <\/b><b>to the next best product<\/b> or service you gave up?<\/li>\n<\/ul>\n<p>II.\u00a0 <strong>Objectives \u2013 SWD:<\/strong><\/p>\n<ul>\n<li>how scarcity and opportunity costs are present in economic decisions by constructing a production possibilities frontier graph.<\/li>\n<li>the ability to make decisions involving trade-offs and opportunity costs explaining \u00a0the factors which influence their decision in relation to those economic concepts<\/li>\n<\/ul>\n<p>III. \u00a0Trade offs &amp; Opportunity Costs Explained<\/p>\n<ul>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=PSU-_n81QT0&amp;list=PL336C870BEAD3B58B&amp;index=7&amp;feature=plpp_video\">Short Video On Opportunity Costs\/Trade Offs<\/a><\/li>\n<li><a href=\"https:\/\/youtu.be\/hR5E7Y4Dxuc\">Opportunity Cost Video Examples<\/a><\/li>\n<li><a href=\"https:\/\/www.economist.com\/blogs\/graphicdetail\/2014\/06\/daily-chart-1\">https:\/\/www.economist.com\/blogs\/graphicdetail\/2014\/06\/daily-chart-1<\/a><\/li>\n<\/ul>\n<p><strong>IV.\u00a0 \u00a0Notebook Work \u2013 \u00a0Copy Diagram<\/strong><\/p>\n<p><a href=\"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-content\/uploads\/sites\/151\/2012\/09\/Trade-Off-Illustration.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-8193\" src=\"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-content\/uploads\/sites\/151\/2012\/09\/Trade-Off-Illustration.jpg\" alt=\"\" width=\"453\" height=\"133\" \/><\/a><\/p>\n<p><strong>V.\u00a0 \u00a0Discussion<\/strong> <b>Production Possibilities Frontier Pgs 21-23<\/b><\/p>\n<ul>\n<li><a href=\"https:\/\/www.youtube.com\/watch?v=O6XL__2CDPU\">Production Possibilities Curve- Econ 1.1<\/a><\/li>\n<li><a href=\"https:\/\/youtu.be\/FwPiWz1a1Tw\">Shifting the Production Possibilities Curve (PPC)<\/a><\/li>\n<\/ul>\n<p><strong>VI.\u00a0 \u00a0Classwork\/Homework<\/strong><\/p>\n<ol>\n<li>Copy the Schedule Below\n<ul>\n<li>Label and plot the Production Possibility Frontier Curve<\/li>\n<li>Write &amp; Answer the two questions below<\/li>\n<\/ul>\n<\/li>\n<li>Describe 3 situations which would cause production to shift inside of the curve.<\/li>\n<li>Describe 3 situations which would cause production to shift outside the curve.<\/li>\n<\/ol>\n<table>\n<tbody>\n<tr>\n<td><b>Military Goods (Guns)<\/b><\/td>\n<td>5000<\/td>\n<td>4800<\/td>\n<td>4500<\/td>\n<td>4000<\/td>\n<td>3300<\/td>\n<td>2000<\/td>\n<td>0<\/td>\n<\/tr>\n<tr>\n<td><b>Consumer Goods (Butter)<\/b><\/td>\n<td>0<\/td>\n<td>1000<\/td>\n<td>2000<\/td>\n<td>3000<\/td>\n<td>4000<\/td>\n<td>5000<\/td>\n<td>6000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I.\u00a0 \u00a0Bellwork: Follow the directions below: If you had up to $100 to spend on only one product or service, make a list of at least 4 possible products or services you would consider purchasing with the $100. Now narrow the list to the top two choices Now list the item or service you would [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[90],"tags":[],"class_list":["post-15958","post","type-post","status-publish","format-standard","hentry","category-economics-f2018"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/15958","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/comments?post=15958"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/15958\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=15958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=15958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=15958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}