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Economics & Economic Decision Making

Economics & Economic Decision Making. Warm Up Question : What are 2 land, 2 labor & 2 capital associated with a high school? [write today’s date: put this in notebook]. FACTORS MAKE G&S. GOODS : Any item that is useful or satisfies a want

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Economics & Economic Decision Making

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  1. Economics & Economic Decision Making Warm Up Question: What are 2 land, 2 labor & 2 capital associated with a high school? [write today’s date: put this in notebook]

  2. FACTORS MAKE G&S GOODS: • Any item that is useful or satisfies a want SERVICE: work that is performed by someone, the action • Ex) teaching, defending, mowing, etc. We can classify all goods in order to understand them better and how the goods fit or needs.

  3. CONSUMER Goods Items intended for final use by individuals (as is) Ex) picture frame or a couch CAPITAL Goods Items used to make other goods (and separate from it) Ex) hammer or stapler Categorizing Goods:

  4. Classifying even further All goods can described as either durable or non-durable. DURABLE GOODS: goods that are intended to last; more than three years, like appliances and furniture. NON-DURABLE GOODS: disposable goods that are not intended for long use, less than 3 years, like food or make-up.

  5. 4 Square Cut n’ Paste You must have 6 examples in each box along with the title. No Repeats! Make sure to put names on it!

  6. Wrap Up Top Ten!!Category: Top Ten Highest Earning Celebrities Last Year Here are some hints: 2 Singer 2 Actors Rapper Athlete Movie Director TV Producer 2 Talk Show Hosts

  7. Top Ten Highest Earning Celebrities 10. Bon Jovi 9. Howard Stern 8. Madonna 7. Tom Hanks 6. Jay-Z 5. Johnny Depp 4. Tiger Woods 3. Steven Spielberg 2. Jerry Bruckheimer(CSI Shows) 1. Oprah Winfrey

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