Slide 1Chapter 2SectionMain Menu Journal Explain the following: Want vs Need Consumer vs Producer Goods vs Services Trade-off vs. Opportunity Costs. Slide 2 Chapter 2SectionMain…

Slide 1What do these things have in common? Slide 2 What if we added these to the list? Slide 3 Ummm…what? Porpoise teeth, rice, wheat, shells, tulip bulbs, olive oil,…

Slide 1Answering the Three Economic Questions What key economic questions must every society answer? What basic economic goals do societies have? What types of economic systems…

Slide 1 The Free Market  Name:  Date:  Define Key Terms (page 28)  1)  2)  3) Slide 2 Warm up/Page 33 Read Profile Adam Smith  Describe and give an example…

Slide 1 Chapters 1-2 Slide 2 Economics The effort to satisfy unlimited wants with limited means Choice Needs Wants Slide 3 Value Everything has value Goods Services Scarcity…

Slide 1 Chapter 2SectionMain Menu The Free Market What key economic questions must every society answer? Why markets exist? Analyze a circular flow model of a free market…

Unit 4 Suppliers, Demanders, & The Role of Price in a Market Economy Agenda Economic News and Warm-Up (10 Min) Lecture on âCircular Flow of Economicsâ (10 Min) Activity:…

The study of the behavior and decision making of the entire economy Examines major trends for the economy as a whole Command Economy Economic system in which the central…

Economics Chapter 1 The Principals of Economics Chapters 1-2 Economics The effort to satisfy unlimited wants with limited means Choice Needs Wants Value Everything has value…

Slide 1 Law of Supply MICROECONOMICS SSEMI2 Students will explain how the Law of Supply, prices, and profit work to determine production and distribution in an economy Slide…