ECONOMICS9/10-9/14

AGENDA 9/9

• BW—Math Minutes

• Finish/Discuss Chapter 2 sec. 1 questions—Should have a sticker on them

• Economic Systems Chart--Jigsaw--Group

Math Minute 3

1. Order the integers from least to

greatest.

{–10, –25, 25, 10, –50}

2. 95

93=

3. What is the area of the rectangle?

4. –2 • –3 =

5. –9(4 + 2 + 3) =

6. –2 + –3 =

7. 48

200= _______ %

Use > , < , or = to complete

Problems 8–10.

8. 3 –6

9. –5 –3

10. 0 –8

Answers

• Essential Questions

• E.6 Compare and contrast how the various economic systems (traditional, market, command, mixed) try to answer the questions: What to produce? How to produce it? For whom to produce? (E)

• E.9 Compare and contrast the theories behind capitalism, socialism and communism using evidence from historical examples.

• Vocabulary—Add the 6 words to the right to

• your notebook

Chapter 2 Section 1 Guided Reading Questions—

answer the following in the Econ Notes/Work section of your Notebook

Read pgs. 23-28

1. What 3 Key questions does every society try to answer?

2. Name 2 examples of economic goals.

3. Why aren’t all workers paid the same amount in factor payments for the resources they provide?

4. What are some examples of safety nets? Why does the government provide safety nets for their people?

5. What is the role of agriculture in a traditional economy? What challenges do traditional economies often face that hampers their growth.

6. Which of the basic economic goals can be easily achieved in a traditional economy? Which cannot?

7. What types of investments on the part of manufacturers result in growth? How does this help improve a nation’s standard of living?

Standard of living Traditional economy

Invisible hand Consumer sovereignty

Economic transition Free enterprise system

YOU AND YOUR GROUP ARE TO RESEARCH

INFORMATION ON YOUR SPECIFIC ECONOMIC

SYSTEM USING BYOD AND TEXTBOOKS

• Create a column chart on your economic system.• How are goods produced (who owns the factors of production)

• Characteristics

• Advantages/

• Disadvantages

• Countries that practice this economy (if any)

• You will share your chart on Tuesday and Wednesday

Types of Economies Jigsaw

THREE TYPES OF ECONOMIES CHART

Free

Market

Economy

Centrally

Planned

Economy

Mixed

Economy

How are goods produced (who owns the factors of production)

Characteristics

Advantages/Disadvantages

Countries that practice this economy (if any)

AGENDA 9/11

• BW-ACT Prep

• Finish Economic Systems research

• Gallery walk Jigsaw—complete chart

• Exit Ticket

Smithco's quarterly report indicated that sales were falling, the same report showed a growth in net income.

1. Which group of words would make a more effective revision to the beginning of this sentence?

A. Smithco's quarterly report indicating that sales were falling

B. Before Smithco's quarterly report indicated that sales were falling

C. Although Smithco's quarterly report indicated that sales were falling

D. Smithco's quarterly growth in earnings report showed that sales were falling

E. Smithco's quarterly report that sales were falling also indicated

Coming up on stage, the speaker announced the start of the event.

2. Which is best way to revise this sentence?

A. The speaker coming up on stage announced

B. Coming up, the speaker, on stage announced

C. No revision necessary

D. The speaker announced, coming up on stage

E. Coming up the speaker at the stage announced

Dave and Julie had to work late so that they would finish their project on time.

3. If the sentence was rewritten to begin with "Tomorrow night," the next words would be

A. their project had to be on time

B. Dave and Julie will have to

C. their work will have been

D. their project will have been

E. Dave and Julie have had to

If your payment is not received within the next two weeks, you will be assessed a late fee.

4. Which is the best way to revise this sentence?

A. No revision necessary

B. two weeks, you would be assessed

C. two weeks, you were assessed

D. two weeks, you have been assessed

E. two weeks, you will assess

Ashlee's son, for which my friends bought gifts, is having a graduation party

5. Which is the best way to revise this sentence?

A. son, for whom my friends bought

B. son, for which my friends bought

C. son, who my friends bought gifts for

D. son for which my friends bought

E. son, for which my friends having bought

Correct Answers

1.C

2.C

3.B

4.A

5.A

THREE TYPES OF ECONOMIES CHART

Free

Market

Economy

Centrally

Planned

Economy

Mixed

Economy

How are goods produced (who owns the factors of production)

Characteristics

Advantages/Disadvantages

Countries that practice this economy (if any)

AGENDA 9/12

• BW—need to know—GET A BOOK!!!

• Finish Chart/posters—economic systems—fill in chart

• Economic systems continuum activity

THREE TYPES OF ECONOMIES CHART

Free

Market

Economy

Centrally

Planned

Economy

Mixed

Economy

How are goods produced (who owns the factors of production)

Characteristics

Advantages/Disadvantages

Countries that practice this economy (if any)

9/12 NEED TO KNOW

A. the consumer’s perception of necessity

B. the interaction of supply and demand

C. the availability of substitutes for the goods

D. the quality of the goods that are produced

2. What determines the price and the quantity produced of most

goods? (E17)

Textbook – pages 100-101 “How the Economy Works” activity.

Read “How does elasticity affect consumer demand?” In

complete sentences, answer the two questions.

AGENDA 9/14Word Wall Practice QuizIn the Word Wall section of your notebook # 1-15

Do NOT WRITE ON THE QUIZ

Economic Systems continuum activity

Exit Ticket

Reminder—BW and exit tickets should be on 1 page per week—BW on the front—Exit tickets on the back—start a new paper each week

Word Wall Test next Thursday!!!!—don’t forget there is a quizlet on my Weebly site

Economic Systems Posters/Chart

• Read the Country Information Cards then place the Country Name Cards at the

appropriate location on the continuum.

• Write down your description of the location and explain your reasoning for each country

on the Group Response Sheet.

• Economic Systems Continuum Activity: Group Response—1 paper per group—will be

turned in for a grade.

• On your post-it notes place all the countries on the continuum on the board

• Example

1. Israel Describe location on continuum _see below__________________________________________

• Explain your reasoning ___why did you place it in that spot_________________________________

• Sample descriptions:

• between command and mixed, but closer to command;

• between mixed and market, but closer to market than

ECONOMIC SYSTEMS CONTINUUM ACTIVITY: