Unit 1 Day 6. Take Out Your Notebooks Think back to the activity from Friday. In your opinion, what were the 2 least important products: –Food –Housing.

Unit 1 Day 6

Take Out Your Notebooks• Think back to the activity from Friday.

• In your opinion, what were the 2 least important products:– Food– Housing– Medical Care– Education– Clothing– Entertainment

• Be prepared to share!

Tests, Reminders & Notes

New Groups

Chad Seth Danielle

Zack Michael Baggott

Kyle Kendall Matth Nicole Arron

Hillary Michael Brannen

Shannon Lacey Haley Virginia Brandon

Teacher Desk/ Work Area

Erin Morgan Taylor

1st PeriodChad Seth Danielle

Zack Michael Baggott

Kyle Kendall Matth Nicole Arron

Hillary Michael Brannen

Shannon Lacey Haley Virginia Brandon

Teacher Desk/ Work Area

Erin Morgan Taylor

New Groups

Megan Justin Xavier Andrew

Paige Cyndilee Chris Charlee Ryan Stacey

Amanda Chelsea Brett Jessica Tim Courtney Kylie

Teacher Desk/ Work Area

Forrest Lacey Alison Jordan Avery

Daniel Morgan Emily

2nd PeriodMegan Justin Xavier Andrew

Paige Cyndilee Chris Charlee Ryan Stacey

Amanda Chelsea Brett Jessica Tim Courtney Kylie

Teacher Desk/ Work Area

Forrest Lacey Alison Haley Jordan Avery

Daniel Morgan Emily Alex

New Groups

Dee Dee Moriah Kristen Kayla Jade (Empty)

Drew Steven Kara Amber Bethany (Empty) Kevin

Harley JD Courtney Nick Sonia David Melissa

Teacher Desk/ Work Area

Jordan Edwards

Jonathan Jordan Marin

Andre’ Mandie Lauren

Kayla Daylan Catherine Phillip Justin

Raven Ryne Maggie Kelsea

4th PeriodDee Dee Moriah Kristen Kayla Jade (Empty)

Drew Steven Kara Amber Bethany (Empty) Kevin

Harley JD Courtney

Nick Sonia David Melissa

Teacher Desk/ Work Area

Jordan Edwards

Jonathan

Jordan Marin

Andre’ Mandie Lauren

Kayla Daylan Catherine Phillip Justin

Raven Ryne Maggie Kelsea

Write This In Your Notes:• Trade-offs = all the choices

• Opportunity cost = cost of best alternative given up.

Trade-offs

OR

Opportunity Cost

Lebron

Duke or the NBA?

A teacher who shall not be named

…their story.

Opportunity Cost (You Don’t Have To Write/Draw This)

Mac Macbook iPod iPod touch iPhone

iPad

Assignment• Don’t write your name on this paper.

• Answer the following question:

• What is the opportunity cost to you of being in a relationship?

• In other words, – A) What would you be doing as a single person,

that you couldn’t do (or couldn’t do as often) if you were in a relationship.

– B) Relationships can cost time & money, among other things. What would you do with the time/money you saved if you were single?

On the opportunity costs of relationships

Write This:

• Opportunity cost is not money or time.

• It’s the next best opportunity you gave up.

Two Tests Tomorrow

The Options

Production Possibilities Frontier

Copy Board Work Into Your Notebooks

Worksheet

Should be completed by each student.

You may work on this with your partner.

Clicker Quiz

As A Class.

Good Luck!

1) You’ve narrowed down your options of how to spend $20 to either take your date out to A) eat OR B) the movies. What is your opportunity cost if you

choose to go to the movies?

• A) $20• B) The amount of time that the movie lasts.• C) The pleasure you would have gotten from eating the meal.• D) $10, since your date gets half of it spent on her.

2) A country is going to war & decides it needs to make more guns. Which answer is realistic in this situation?

• A) move from A to C B) move from D to A

• C) move from B to A D) move from A to B

3) With current production at point A, what would the opportunity cost of 90

more guns be?

• A) 5 butter

• B) 540 butter

• C) 54 butter

• D) 50 butter

4) Which point represents inefficient use of resources?

• A) P B) O

• C) M D) X

5) Production at which point could cause the economy to grow?

• A) P B) O

• C) M D) X

6) It is currently impossible for the country to produce at which point?

• A) P B) O

• C) M D) X

7) Which best represents a situation where a country’s productivity

increases?

• A) moving from Y to G B) moving from CD to AB• C) moving from Z to Y D) moving from CD to EF

8) What is the opportunity cost of two pies?

• A) 0.5 cakes B) 1 cake

• C) 2 cakes D) 3 cakes

9) What is the opportunity cost of four pies?

• A) 0.5 cakes B) 1 cake

• C) 2 cakes D) 3 cakes

10) What is the opportunity cost of 1 cake?

• A) 0.5 pies B) 1 pie

• C) 2 pies D) 3 pies

Marker Board Assignment

• 1) Draw a PPF using the information above. Label each point.

• 2) What is the opportunity cost of moving from Point C to Point D?

• 3) Say this country is producing at Point B. What is the opportunity cost of moving to Point E?