Today we conducted at Tableau.

We also worked on a worksheet below

 Economic Systems Scenarios

Economies Questions

#1: https://drive.google.com/file/d/0B_gpVfHfuRG2ZE1KLS0zRllGTHc/edit?usp=sharing

#2 List each of the 4 types of economies
for each type do the following:
1. list characteristics that it possesses
2. Give some reasons why this type of economy works
3. How could you benefit from this type of economy?

Presented inventions today

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