Friday, February 22

Unit 1 Exam

Wednesday, February20

Exam Review for Friday

Jeopardy

REMEMBER:  It is not enough to simply define the words/phrases below each of the exam questions.  I need you to cite specific examples/sources that we have used in class in your answers.  This will show me you truly understand what the question is asking and the material.  

1. Compare and Contrast the 4 types of economies.  Give detailed analysis on how each type works and  characteristics of each.

·            Traditional

·            Market

·            Command

  Mixed

2. Explain how Entrepreneurship and competition is beneficial to a Capitalistic society.

·            Technology

·            Internet

·            Role of Government

 Specialization

3. Explain how scarcity forces countries to make decisions on the production of goods and services.

·            Needs vs. Wants

·            Energy

·            Resources

 Education

4. Analyze how the Factors of Production play an important role in the production of goods and services.

·            Land

·            Labor

·            Physical/Human Capital

 Geography

Friday, February 15

Economies Notes

Complete the Economies Questions and the Speculation-Prediction Journal in Google Class.

Wednesday, February 13

Finished notes from Monday

Complete the Primary source document below in Google Classroom as well as the Command vs Market gird worksheet which is also in Google Classroom.  

Adam Smith Primary Source Document

Command vs Market- Why Adam Smith was right

Friday, February 8-Monday, February 11

Presentations

Begin Economic Systems Notes (We will finish in class on Wednesday)

Economic Systems Graphic Organizer: See below

Read about the following types of economic systems and make a graphic organizer for each system explaining what they are and identify examples.  Make sure you create a detailed explanation and not just the definition from the back of the textbook. 

 

Graphic Organizer Example 

 

1. Traditional (p26-27)

    Explain/Define/Characteristics

    Example: What country or culture is similar?

 

2.  Command/Centrally Planned (p 34-35)

    Explain/Define/Characteristics

    Example: What country or culture is similar?

 

3.  Market/Capitalism/Free enterprise system (p28-29)

    Explain/Define/Characteristics

    Example: What country or culture is similar?

 

4.  Mixed (p40 only)

    Explain/Define/Characteristics

    Example: What country or culture is similar? 

Wednesday, February 6

Invent something that you think could make money.

    Invent a completely new product/service Or Improve a current product/service.

YOUR PRODUCT MUST BE REALISTIC (no technology that does not yet exist)

1. Explain your invention and how it works.
2. Provide a poster (8 ½ X 11) that shows your product/service.
3. Who is the product intended for? Why?
   (Males? Age group?, Middle class?)
4. Identify what is needed to make the product
   -Land: materials in the product
   -Labor: types of jobs employees will do
   |-Capital: tools/machines that are needed

Monday, February 4

Invent something that you think could make money.

    Invent a completely new product/service Or Improve a current product/service.

YOUR PRODUCT MUST BE REALISTIC (no technology that does not yet exist)

1. Explain your invention and how it works.
2. Provide a poster (8 ½ X 11) that shows your product/service.
3. Who is the product intended for? Why?
   (Males? Age group?, Middle class?)
4. Identify what is needed to make the product
   -Land: materials in the product
   -Labor: types of jobs employees will do
   |-Capital: tools/machines that are needed 

DUE FRIDAY!!

Friday, February 1

1. Look at your list of 20 things that go into a product from yesterday.  For each item, write down whether it is an example of Land, Labor, or Capital.

2. Watch video explaining scarcity: https://www.youtube.com/watch?v=Np-dZSdzymk

3. Complete the Intro to Factors of Production handout.