1 / 16

Complete #1 on page 7. Number your definitions (18)

Bell-Ringer 1-26-09. Complete #1 on page 7. Number your definitions (18). Bell-Ringer 1-27-09. Use the Chart to provide examples of various natural resources, human resources, and capital resources Chapter 1; Section 1 pages 3-7. Bell-Ringer 1-28-09. What is Economics?

sancha
Download Presentation

Complete #1 on page 7. Number your definitions (18)

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Bell-Ringer 1-26-09 • Complete #1 on page 7. Number your definitions (18)

  2. Bell-Ringer 1-27-09 • Use the Chart to provide examples of various natural resources, human resources, and capital resources • Chapter 1; Section 1 pages 3-7

  3. Bell-Ringer 1-28-09 • What is Economics? • What are the factors of production? • What is the goal of entrepreneurship? • Chp 1; Sect 1

  4. Bell-Ringer 1-29-09 • Why is scarcity a basic problem of economics? • What are the three economic questions that all economic systems address; explain them. • Chp 1; Sect 2

  5. Bell-Ringer 1-30-09 • What is opportunity cost? • What is the Production Possibility Curve? • Chapter 1; Section 3

  6. Bell-Ringer 2-2-09 • What two assumptions determine the production possibilities curve (PPC)? • What condition is represented by a point lying inside, or below, the PPC? • Chp 1; Sect 3

  7. Bell-Ringer 2-3-09 • What are the difficulties associated with barter? • Why is self-sufficiency so rare? • What are the economic benefits of interdependence? • Chp 1; Sect 4 (15-18)

  8. Bell-Ringer 2-4-09 • What are the three functions of money? Page 16 • What is value? (17) • What is utility? (17)

  9. Bell-Ringer 2-9-09 • What are the 3 basic economic questions answered in traditional, command, and market economies? • What are the roles of self-interest and incentives in a market economy? • Chp 2; Sect 1

  10. Bell-Ringer 2-11-09 • What are the five main features of the free-enterprise system in the United States? (29) • Identify and explain the two markets of the circular flow model. (34)

  11. Bell-Ringer 2-17-09 • Complete # 2 “Identifying Concepts” page 40

  12. Bell-Ringer 2-18-09 • How do nations decide how to use scarce resources? • Why do economic goals sometimes conflict? • Chp 2; Sect 3

  13. Bell – Ringer 2 – 23 - 09 • How does demand differ from quantity demanded? • What does the law of demand state? • What do demand schedules and demand curves illustrate? • Chapter 3 section 1

  14. Bell – Ringer 2 – 24 - 09 • What does it mean for a product’s demand to shift? • What factors can shift demand for a product? • How do substitute goods differ from complementary goods? • Chapter 3 section 2

  15. Bell – Ringer 2 – 25 - 09 • What is demand elasticity? • What is the difference between elastic and inelastic demand? • How is demand elasticity measured? Chapter 3 section 3 Page 63-68

  16. Bell – Ringer 2 – 27 - 09 • What is the difference between supply and quantity supplied? • What does the law of supply sate? • What do supply schedules and supply curves illustrate? • What is supply elasticity? Chapter 4 section 1 page 73-78

More Related