Scarcity.TO. OC. FOP.Allocation 2013.2014.notebook

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August 06, 2015

Aug 29­8:30 AM

Warm Up: Categorize the following.

Microeconomics Macroeconomicsinflation ratetrade deficit

Walmart's profit marginconsumer trendsexchange ratesdemand for gold

Aug 18­4:16 PM

Economics is all about...

Trees ­ palm

Time to make some choices...

Jul 11­3:06 PM

Items that are below deck:30 cans of SPAM in a caseTwo cases of bottled waterMirrorMacheteMedical kit

A wedding dressA three year old Irish setter named Stacey (injured/can't swim)A flare gun with two flares40 pairs of blue jeans (various sizes)12 ft. of rope

A Swiss Army knifeOne case of Oreo cookiesSeason four of "The Office" on DVD$500.00 cash6' by 6' tarp

A chainsaw with one tank of fuelSurvival guideBook on South Pacific plant lifeBible20 gallon plastic containerChad Ochocinco jersey

Jul 11­3:18 PM

Economic Problems Faced in this Activity:

Pull

Pull

Scarcity

Trade­offs

Opportunity Cost

Feb 12­3:50 PM

Definition: Characteristics:

Examples: Non-Examples:Scarcity

Scarcity.TO. OC. FOP.Allocation 2013.2014.notebook

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August 06, 2015

Aug 29­8:44 AM

1. There is a limited amount of crude oil in the world.

2. El Nopal ran out of Cinco de Mayo t­shirts by 7:00 and many customers were disappointed.

3. The land used to grow soybeans could have been used to grow peanuts or cabbage.

4. Engineers have many job opportunities because they are valuable in many sectors of the economy.

5. The state of Georgia is expected to need about 2,000 more civil engineers over the next decade, but only about 1,200 will graduate from state engineering programs. 

SCARCITY SHORTAGESCARCITY

Feb 12­3:59 PM

Definition: Characteristics:

Examples: Non-Examples:Opportunity

Cost

Aug 25­10:04 AM

CLOSINGSorative Exit Ticket:

What is the difference between scarcity and a shortage?

Choosing is refusing. Explain.

Aug 25­9:50 AM

Warm Up:

Mr. Young has $15 to spend.  He goes to Target and decides he needs new music.  He is caught between a ACDC CD and a Journey Greatest Hits CD.  He decides that Journey will calm her nerves more, and purchases his CD.

1) How does Mr. Young face scarcity?

2) Describe the trade­off faced by Mr. Young.

3) What is Mr. Young's opportunity cost?

4) What incentive influenced Mrs. Foy's choice?

Aug 29­10:50 AM

Watch this clip from Batman.  What economic issues do you see here?

Feb 15­4:27 AM

Definition: Characteristics:

Examples: Non-Examples:

Factors

of

Production

Scarcity.TO. OC. FOP.Allocation 2013.2014.notebook

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August 06, 2015

Aug 15­10:28 AM

Classify the Factors of Production

You decide to order a pizza to satisfy your wants. First, you picked up the telephone and gave your order to the owner that entered it into her computer. This information came up on the chief baker‛s monitor in the kitchen and he assigned it to one of his cooks. The cook was busy mixing dough out of salt, flour, eggs, and milk.

The cook finished mixing dough, washed his hands in the sink, and prepared your pizza using tomato sauce, cheese, and sausage. He then placed the pizza in the oven. Within 10 minutes the pizza was cooked and placed in a cardboard box. The delivery person then grabbed your pizza, jumped in the company car, and delivered it to your door.

Aug 15­10:29 AM

Aug 28­3:55 PM

Factors of Production....why do they matter?

Feb 15­4:45 AM

Closing:Socrative Exit Ticket

Five questions classifying FOP

Feb 15­4:46 AM

Warm Up: Give three different examples of factors of production.

Aug 23­2:26 PM

Resources are Scarce....

How should they be allocated?

Scarcity.TO. OC. FOP.Allocation 2013.2014.notebook

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August 06, 2015

Aug 15­9:16 AM

Allocation Strategies

Feb 15­4:54 AM

Which of these strategies is the most fair?

Which of these strategies is the least fair?

Which of these strategies is best at getting resources to those who value it the most?

Feb 15­4:55 AM

Today's Big Point:

Resources are scarce.

Because resources are scarce we must make decisions on how to

allocate these resources.

There are many ways to allocate resources that may be fair to

some and not as fair to others.

Why does this matter?

Aug 6­12:05 PM

Attachments

Budget Cuts