Economics

Objectives:

Economics 9.0 - The Market Economy - Students will understand how scarcity and incentives affect choices, how markets work, why markets form, how supply and demand interact to determine the market price, and how changes in prices act as economic signals to coordinate trade.

MONDAY

The Business of Money

 What is economics?  Watch the video below to see a kids definition of economics and the economy.
As you watch the video, think to yourself:

• What is economy?
• What is economics 
• How could I explain these terms (words)?

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Vocabulary

• supply
• demand
• profit
• opportunity costs

• producer
• consumer
• trade-off

TUESDAY

Questions of the Day

• Define supply and demand.
• What factors can change supply?
• What factors can change demand?​

Lesson 

Lesson  Click on the images to learn more about Supply, Demand, and Opportunity.  Be sure to take notes.

Assessment

Use your vocabulary worksheets and video notes to answer the assessment questions.

Assessment

WEDNESDAY

Vocabulary

• factors of production
• human capital
• physical capital
• productivity

THURSDAY

• ​What is capital?
• What is the difference between human capital and physical capital?

LESSON

ASSESSMENT

Watch the video below.  Be sure to take notes.

Assessment