{"id":8931,"date":"2013-02-07T00:34:36","date_gmt":"2013-02-07T04:34:36","guid":{"rendered":"http:\/\/blog.dearbornschools.org\/farhoua\/?p=8931"},"modified":"2013-02-07T00:34:36","modified_gmt":"2013-02-07T04:34:36","slug":"economics-20713","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2013\/02\/07\/economics-20713\/","title":{"rendered":"Economics &#8211; 2\/07\/13"},"content":{"rendered":"<p><b>I.\u00a0 Bellwork:<\/b><\/p>\n<p>A professional baseball team has only enough money to sign either one superstar or three young players. The superstar could help the team win the championship this year but would not be with the team long. The young players are talented but not yet ready for the major leagues.<\/p>\n<p><b>Questions &amp; Answers<\/b><\/p>\n<p>1.\u00a0 What is the trade off associated with signing the young players?<br \/>\n2.\u00a0 Explain the opportunity cost associated with signing the young players?<\/p>\n<p><b>II.\u00a0 Objective:<\/b><\/p>\n<ul>\n<li>Demonstrate how scarcity and opportunity costs are present in economic decisions by constructing a production possibilities frontier graph.<\/li>\n<li>Determine the meaning of words and phrases as they are used in a text<\/li>\n<\/ul>\n<p><b>III. Turn in Homework<\/b><\/p>\n<p><b>IV.\u00a0 \u00a0 Discussion Section 1-3 pages 19-23<\/b><\/p>\n<p><b>A.\u00a0 Identifying Trade offs and Opportunity Costs Pgs 19-20<\/b><\/p>\n<p style=\"padding-left: 30px\">1.\u00a0 Example:\u00a0 How to spend Friday night?<br \/>\n2.\u00a0 <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><br \/>\n3.\u00a0 <a href=\"https:\/\/www.reffonomics.com\/TRB\/chapter1\/opportunitycost.swf\">Difference between trade offs and opportunity cost<br \/>\n<\/a><\/p>\n<p><b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 B.\u00a0 Production Possibilities Frontier Pgs 21-23<\/b><\/p>\n<p style=\"padding-left: 30px\">1.\u00a0 Example:\u00a0 Rectangles &amp; Triangles -Production Possibility Frontier<br \/>\n2. <a href=\"https:\/\/www.youtube.com\/watch?v=ci7uwsuMH-c\">Production Possibility Frontier Video 1<\/a><br \/>\n3. <span style=\"text-decoration: underline\"><a href=\"https:\/\/www.youtube.com\/watch?v=jHYj-5FFkSQ\">Production Possibility Frontier \u00a0Video Part 2<\/a><\/span><br \/>\n<span style=\"text-decoration: underline\">4. <\/span><a href=\"https:\/\/www.reffonomics.com\/TRB\/chapter1\/ppinteractive.html\" target=\"_blank\">Production-possibilities Curve, I<\/a><\/p>\n<p><b>V. Test on Monday<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I.\u00a0 Bellwork: A professional baseball team has only enough money to sign either one superstar or three young players. The superstar could help the team win the championship this year but would not be with the team long. The young players are talented but not yet ready for the major leagues. Questions &amp; Answers 1.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-8931","post","type-post","status-publish","format-standard","hentry","category-economics-w2013"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/8931","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=8931"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/8931\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=8931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=8931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=8931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}