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Economics & Economic Decision Making. Warm Up Question : What are 2 land, 2 labor & 2 capital associated with a high school? [write today’s date: put this in notebook]. FACTORS MAKE G&S. GOODS : Any item that is useful or satisfies a want - PowerPoint PPT Presentation
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Economics & Economic Decision Making
Warm Up Question:What are 2 land, 2 labor & 2 capital associated with a high school?
[write today’s date: put this in notebook]
FACTORS MAKE G&S
GOODS:• Any item that is useful or satisfies a want
SERVICE: work that is performed by someone, the action– Ex) teaching, defending, mowing, etc.
We can classify all goods in order to understand them better and how the goods fit or needs.
Categorizing Goods:
CONSUMER GoodsItems intended for final use by individuals (as
is)
Ex) picture frame or a couch
CAPITAL GoodsItems used to make other goods (and separate
from it)
Ex) hammer or stapler
Classifying even further
All goods can described as either durable or non-durable.
DURABLE GOODS: goods that are intended to last; more than three years, like appliances and furniture.
NON-DURABLE GOODS: disposable goods that are not intended for long use, less than 3 years, like food or make-up.
4 Square Cut n’ Paste
Durable Goods
Non-Durable
Goods
Capital Goods
Consumer Goods
You must have 6 examples in each box along with the title.
No Repeats!
Wrap Up Top Ten!!Category: Top Ten Highest
Earning Celebrities Last YearHere are some hints:
2 Singer
2 Actors
Rapper
Athlete
Movie Director
TV Producer
2 Talk Show Hosts
Top Ten Highest Earning Celebrities
10. Bon Jovi9. Howard Stern
8. Madonna7. Tom Hanks
6. Jay-Z5. Johnny Depp4. Tiger Woods
3. Steven Spielberg2. Jerry Bruckheimer (CSI Shows)
1. Oprah Winfrey