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Bellringer on your “white board”1. Give an example of each factor of production if I want to make a pencil
2. How do we show opportunity cost on a graph?
Why are numbers important in economics class?
• “This is not a math class” – Marina Padilla
How do we show opportunity cost on a graph?
How do we show opportunity cost on a graph?
Production Possibility Practice
Production Possibility Practice
Production Possibility Practice
Production Possibility Practice
Production Possibility Practice
Production Possibility Practice
Production Possibility Practice
Production Possibility Practice
Production Possibility Practice
Why?
In your groups• You are members of the
financial ministry of the country of Travistan
• Create a budget for FY 2014• Smog level 100 million particles per square inch Reducing pollution would
increase tourism and create thousands of new jobs
Travistan