Finish Invention Activity

Be prepared to present on Thursday!

INVENTION ACTIVITY

    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 (not 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 THURSDAY!!!!

Question of the Day:  What is the difference between a want and a need? Answer this in your notebook.

Visual Vocabulary Example- Visual Vocabulary

Choose 6 words to complete a Visual Vocab with on page 20 of text.

Take a look at the 20 things that go into a product from Friday.  Next to each item, label the item as being either Land, Labor, or Capital.

Think of a product you use. Make a list of 20 things that go into the production of that product

Factors of Production Concept Map
Read pp 4-5 to understand Land, Labor, and Capital

Make a concept map for each. See example below
https://docs.google.com/file/d/0B_gpVfHfuRG2WlJPQUhNVUtHYlU/edit

June 10

Economics Final Review Sheet

Key Terms and Ideas

inelastic                       law of demand                       inferior good elastic                  complement    

substitute                     ceteris paribus                          market                                surplus            

Factors of production   shortage                                   bank run                              entrepreneur   

Broker                         Bear Market                            Exempt                                Regressive tax            

FICA                           Bull Market                             Gross Pay                           Net Pay                      

Price of Inputs            Fixed Cost                              Human Capital                     Supply curve  

Demand Curve            Property taxes                         Income Tax                         Sales tax         

Excise Tax                   S&P 500                                  Compliments                      Traditional      

Mixed                          Command                               Social Security                     Types of Bonds

Budgeting- Auto Loan, Mortgage, Rent, Types of Insurance, Spousal Support, Child Support, Utilities

Taxes- tax brackets, evasion, types of taxes, tax forms, and deductions

Money/Banking- Types of money, Loans, FDIC, Mortgage, Checking

June 5

Final Notebook Check Due Friday

1. History of Banking Notes
2. Banking Today Notes
3. Credit Card Notes
4. Maxed Out Questions
5. San Fransisco Trip

June 2

Started watching Maxed Out on Friday and finished watching Maxed out and finished questions today.  See me if you missed class for makeup.