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DWU #1

DWU #1. If you were going to start your own business, what type of business would you start? Would you sell a good or a service? What things might you need to start your business?. DWU #2. What is the PPF? What are some resources businesses use to create goods or services?

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DWU #1

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  1. DWU #1 If you were going to start your own business, what type of business would you start? Would you sell a good or a service? What things might you need to start your business?

  2. DWU #2 • What is the PPF? • What are some resources businesses use to create goods or services? • What does it mean to be producing along the frontier? • What does it mean to produce inside the frontier? • What does a shift to the left or right mean for your production?

  3. DWU #3 • What are the three economic systems that we studied? What are the main differences between the three economic systems? List some characteristics of each system.

  4. DWU #4 • How much money do you want to make at your job/career? Who or what should determine the amount of money we make? Why do some careers make much more money than others? Explain.

  5. DWU #4 • What does it mean to demand a product? • What are some things that determine your demand? • How do you decide on what products you purchase? Explain.

  6. DWU #1 • Define elastic demand – • Define inelastic demand – • Price Quantity Demand a. 1000 25000 b.1200 23000 c.1400 21000 d.1600 19000 e. 1800 17000 Calculate elasticity from pt.A to B

  7. DWU #1 • List the 5 determinants of Demand- • Explain how they determine the demand of products. • List the 4 determinants of Supply- • Explain how they determine the supply of products.

  8. DWU #2 • What is greed? Do you think greed is a good thing or a bad thing? Why.

  9. DWU #1 • What does it mean to have a surplus of something? What will happen to prices if a surplus exists? How does this benefit consumers and hurt suppliers? Explain. • Graph it!

  10. DWU • What is perfect competition? Give an example of a perfectly competitive market. • What is a monopoly? Give an example a monopoly. (Remember there are four types)

  11. DWU • Do you save any of your money? Why or why not? What are some reasons people save their money? What does the saying ,”save for a rainy day” mean? What is the rainy day?

  12. DWU # • What does a bad economy look like for you? • What does a good economy look like for you? • What does a bad economy look like for business? • What does a good economy look like for business?

  13. DWU • What are the two problems that the U.S. economy faces? Explain the two problems and what fiscal policies does the U.S. government implements.

  14. DWU • What is interest rate? • What is the interest rate formula? • Calculate the your monthly payment on a car loan of 30,000 at 10% for 5 years. • How much will you be giving the bank over the course of the 5 years?

  15. DWU • What are the four components of aggregate demand? How do they effect aggregate demand? • When consumer spending increases 2 % last quarter, graph the effect of aggregate demand.

  16. DWU

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