February 20

Finish Ch 11 Section 1 Questions- https://docs.google.com/file/d/0B_gpVfHfuRG2dW5nWHRXVnk1OG8/edit

Ch 11. Section 2 Power Point- https://drive.google.com/file/d/0B_gpVfHfuRG2T2hxR3ozNFlQMXc/edit?usp=sharing

Key Terms Chapter 2

The key terms from all 4 sections of chapter 2 should be defined in your spirals.

economic system, factor payments, patriotism, safety net, standard of living, traditional economy, market economy, centrally planned economy (command economy), mixed economy, market, specialization, household, firm, factor market, profit, product market, self-interest, incentive, competition, invisible hand, consumer sovereignty, socialism, communism, authoritarian, collective, heavy industry, laissez faire, private property, free enterprise, continuum, transition, privatize

2/12/14 Notebook Entry:Econ System Booknotes

Read about the following economic systems and take book notes explaining what they are and identifying examples.

1. Traditional

Explain/Define/Characteristics

Example: What country or culture is similar? Why?

2. Command

Explain/Define/Characteristics

Example: What country or culture is similar? Why?

3. Market/ Capitalism/Free enterprise system

Explain/Define/Characteristics

Example: What country or culture is similar? Why?

4. Mixed

Explain/Define/Characteristics

Example: What country or culture is similar? Why?

Vocabulary list

Economic System, Factor Payments, Patriotism, Safety Net, Standard of Living, Traditional Economy, Market Economy,Centrally Planned Economy (Command Economy), Mixed Economy

Class Outline

Mr. Cash is scheduled to return on Tuesday, February 18th, but here is a general outline of what we will be covering in class during the rest of my time here as his substitute.

2/3: Understanding Key terms from Ch. 1
2/4: Opportunity Cost/Production Possibilities Curves
2/5: Introduction to Economic Systems Have all Ch 1 key terms definitions in spiral by now
2/6: 
2/7:

2/10:
2/11: Economic Systems Slideshow
2/12: Economic Goals and Societal Values
2/13:Quiz and Review
2/14: Jeopardy Game Have all Ch 2 key terms definitions in spiral by now

Feel free to contact me with any questions,

Debbie Virden
 virden_debra@salkeiz.k12.or.us

Notebook: Key Terms, Chapter 1

In your spiral, create a definition list of key terms from Chapter 1.

need, want, economics, goods, services, scarcity, shortage, factors of production, land, labor, capital, physical capital, human capital, entrepreneur, trade-off, guns or butter, opportunity cost, thinking at the margin, production possibilities curve, production possibilities frontier, efficiency, under-utilization, cost, law of increasing costs

Notebook: Land, Labor, Capital-Part 2

Classifying Terms: Classify the following by placing them in columns of LAND, LABOR, CAPITAL, OR N/A.
taxi cab, CEO of GM, river, salesperson, teacher, slave, store owner, school bus, flowers for your sweetie, factory, personal computer, a $10 bill, apple pie for your dessert, air, forest, savings bond, tires, wild boar

Notebook: Land, Labor, Capital-Part 1

Read pages 3-6. In your spiral, name a product/service you consume.  List 20 things that are needed to create that product/service. For each of the 20 things, identify whether it is land, labor, or capital.