{"id":17448,"date":"2019-08-28T17:46:39","date_gmt":"2019-08-28T21:46:39","guid":{"rendered":"https:\/\/iblog.dearbornschools.org\/farhoud\/?p=17448"},"modified":"2019-08-28T12:48:16","modified_gmt":"2019-08-28T16:48:16","slug":"ap-economics-8-29-19","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2019\/08\/28\/ap-economics-8-29-19\/","title":{"rendered":"AP Economics &#8211; 8\/29\/19"},"content":{"rendered":"\n<p>\n\nI.&nbsp;&nbsp;<strong>Bellwork: Follow the directions below:<\/strong><\/p>\n\n\n\n<p><strong>A.&nbsp; Use a diagram (See yesterday\u2019s diagram) to illustrate the trade-offs and opportunity cost below:<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>If you had up to $100 to spend on&nbsp;<strong>only one<\/strong>&nbsp;product or service, make a list of&nbsp;at least&nbsp;4 possible products or services you would consider purchasing with the $100.<\/li><li>Now narrow the list to the top two choices<\/li><li>Now list the item or service you would purchase.<\/li><li>Under the diagram describe some of the things you would sacrifice (opportunity cost)&nbsp;<strong>related&nbsp;to the next best product<\/strong>&nbsp;or service you gave up?<\/li><\/ol>\n\n\n\n<p>II.&nbsp;&nbsp;<strong>Objectives \u2013 SWD:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>how scarcity and opportunity costs are present in economic decisions by constructing a production possibilities frontier graph.<\/li><li>the ability to make decisions involving trade-offs and opportunity costs explaining &nbsp;the factors which influence their decision in relation to those economic concepts<\/li><\/ul>\n\n\n\n<p><strong>III.&nbsp;&nbsp;<\/strong><strong>Identifying Trade-offs and Opportunity Costs&nbsp;<\/strong><\/p>\n\n\n\n<p><strong>B.&nbsp; Production Possibilities Frontier&nbsp;<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li><a href=\"https:\/\/www.youtube.com\/watch?v=O6XL__2CDPU\">Production Possibilities Curve- Econ 1.1<\/a><\/li><li><a href=\"https:\/\/youtu.be\/FwPiWz1a1Tw\">Shifting the Production Possibilities Curve (PPC)<\/a><\/li><\/ol>\n\n\n\n<p><strong>IV.&nbsp; Classwork\/Homework<\/strong><\/p>\n\n\n\n<ol class=\"wp-block-list\"><li>Copy the Schedule Below<ul><li>Label and plot the Production Possibility Frontier Curve<\/li><li>Write &amp; Answer the two questions below<\/li><\/ul><\/li><li>Describe 3 situations which would cause production to be inside of the curve.<\/li><li>Describe what a point outside the curve means.<\/li><\/ol>\n\n\n\n<table class=\"wp-block-table\"><tbody><tr><td><strong>Military Goods (Guns)<\/strong><\/td><td>5000<\/td><td>4800<\/td><td>4500<\/td><td>4000<\/td><td>3300<\/td><td>2000<\/td><td>0<\/td><\/tr><tr><td><strong>Consumer Goods (Butter)<\/strong><\/td><td>0<\/td><td>1000<\/td><td>2000<\/td><td>3000<\/td><td>4000<\/td><td>5000<\/td><td>6000<\/td><\/tr><\/tbody><\/table>\n","protected":false},"excerpt":{"rendered":"<p>I.&nbsp;&nbsp;Bellwork: Follow the directions below: A.&nbsp; Use a diagram (See yesterday\u2019s diagram) to illustrate the trade-offs and opportunity cost below: If you had up to $100 to spend on&nbsp;only one&nbsp;product or service, make a list of&nbsp;at least&nbsp;4 possible products or services you would consider purchasing with the $100. Now narrow the list to the top [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-17448","post","type-post","status-publish","format-standard","hentry","category-class-news"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17448","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=17448"}],"version-history":[{"count":1,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17448\/revisions"}],"predecessor-version":[{"id":17449,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/17448\/revisions\/17449"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=17448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=17448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=17448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}