Introduction to Economics

BIG IDEAS:

  1. Natural, human, and capital resources are used in the production of goods and services.
  2. Scarcity requires us to make trade-offs and have opportunity costs.

AGENDA ACTIVITIES:

  1. Choose 3 items produced in the tri-state area. Label the top of your paper “Tri-state Resources”. Make a chart listing the human, natural, and capital resources that go into making each product.
  1. Label the top of your paper “Production Possibilities”. Imagine that you have just been given $100. Think of 2 different ways you could spend this money. On your paper, draw a production possibilities curve and t-chart illustrating all the possibilities.
  1. For this task, you must choose ONE of the following activities.
  2. Label your paper “Wedding Planning”. You are planning a wedding reception. You have $2000 to spend. You must develop a budget that stays within the parameters of this amount. Include the following expenditures: music (band or d.j.?), food (sit-down, buffet, hors d’oeuvres, cake and punch?), rental of facilities (gym, church basement, hotel?), and cake (homemade, bakery?).

Next, write a short explanation (at least two paragraphs), explaining why you made these decisions. This may be handwritten, but must be legible!

  1. Label your paper “Letter to the Editor”. Write a letter to the editor of the local newspaper supporting the conservation of resources. You may choose to focus on natural resources (oil, land, water, etc.) or financial resources (money).

The letter must be at least 2 paragraphs long. Be sure to explain why you think that conservation is important. Discuss the scarcity of these resources.

Chapter 1 RubricNAME:______PERIOD:______

  1. Tri-State Resources

Spelling and grammar (-1 per mistake)______3 possible

3 Charts (8 points each)______24 possible

Format and neatness (name, labeling)______3 possible

ACTIVITY TOTAL ______(30)

  1. Production Possibilities

Labeling (axis and numbers)______6 possible

Proper Curve, Numbers are accurate______5 possible

Accurate T-chart______5 possible

Neatness______4 possible

ACTIVITY TOTAL ______(20)

  1. Choice Activity

Wedding Planning

Neatness______3 possible

Spelling and grammar (-1 per mistake)______5 possible

Budget Parameters(did you meet budget?)

(outside budget = -5, missing any part = -2 per part______10possible

Realistic Budget______5 possible

Paragraphs’ Content______20 possible

Length (at least 2 paragraphs)______2 possible

Letter to the Editor

Neatness and format______5 possible

Spelling and grammar (-1 per mistake)______5possible

Content (thorough and accurate)______35possible

ACTIVITY TOTAL ______(45)

TOTAL AGENDA FOLDER GRADE ______/95