Juliet Wagner Website julietsworld weebly com My Classroom

Juliet Wagner Website: julietsworld. weebly. com

My Classroom Routines… Once I begin class, I expect phones, etc. to be put away- I usually will say “Okay, phones/devices should be put away now” I do usually give breaks- but they are a privilege not a right- behave accordingly. If you are absent it is YOUR responsibility to find out what you missed and make sure you get what you need. Check the crates, and my website- ask me and follow-up if need be.

My Routines cont… I do allow test retakes for point recovery- provided you have no missing work for the unit and you must have a completed review guide. If you did not do one prior to the test, you will need to complete one and show me before you do the retake. I usually allow phones/devices as music players during individual work time- but if it becomes a distraction it will annoy me and I will change my mind.

Routines cont… Food/Drinks – are okay with the exception of anything messy or that will leave your fingers orange (Cheetos, Doritos, etc. ) and anything with a strong odor (inc. microwave popcorn-it gives me a serious headache) Drinks must have a lid. No open cans/bottles. If messes are left behind- you risk losing this privilege for your class.

Standing Point Recovery Offer Take any concept covered on a test and create an original parody/video/performance piece to either perform live or show the class that explains or demonstrates the concept. Could be a song, music video, poem, or animation, this will satisfy the requirements needed for point recovery- if you missed multiple concepts on an assessment, you can combine them into one project.

Handy Dandy Guide to Economics 1. 2. 3. 4. People choose. People’s choices involve costs. People respond to incentives in predictable ways. People create economic systems that influence individual choices and incentives. 5. People gain when they trade voluntarily. 6. People’s choices have consequences that lie in the future.

The Scope of Economics 1. Description – “What the US looks like” (GDP) 2. Analysis – “Why it works or how it works” (Income data) 3. Explanation – “Why this happened or didn’t happen” (Recession) 4. Prediction – “This will happen if we do this” (Raising income taxes)

Mr. Clifford and his Econ. Movies…

Chapter 1: Introduction to Economics Section 1: Scarcity and Factors of Production Goals: • Identify the 3 Economic Questions • Explain how scarcity and choice are key elements of Economics. • Identify the 3 Factors of Production and 2 types of Capital. • Explain the role of Entrepreneurs.

What is the difference between needs and wants? • Needs – • Wants- • Economics – • Why do we have to choose? • Why can’t we have it all?

TINSTAAFL “There is no such thing as a free lunch”

The 3 Basic Economic Questions 1. What to Produce? 2. How to Produce it? 3. Who is it Produced for?

Scarcity • Goods –…examples? • Services –… examples?

Scarcity vs. Shortage • What is the difference? • Scarcity always exists. It cannot change, it will always be. Wants and needs will always outweigh the resources available. • Shortages (where producer either can not or will not produce enough to meet demand at a particular time) temporary or long term-but originates from the producer more could be supplied if given time or different circumstances

Factors of Production = 3 types of resources used to make all goods and services. 1. Landnot just actual land but all natural resources found in nature, i. e. water, lumber, wind, coal etc. 2. Labor. Human effort in all forms that produces a good or service, i. e. medical aid of a doctor, teaching, building a house etc.

3 Factors of Production cont. 3. Capitalman-made resources used to produce other goods and services 2 types of Capital Physical capital Human capital Usually increasing capital (physical or human) increases production because the process is made more efficient.

Entrepreneurs What is an Entrepreneur? • They are sometimes called the fourth factor. • An entrepreneur is someone who creatively combines land, labor and capital to create a new good or service – they are ambitious risk-takers who are key to forming new ideas, start new businesses and fuel growth

Goal Check • What roles do scarcity and choice play in the study of 3 factors Economics? of production Good or Service / Industry • What are 3 Factors of. Entrepreneur Production and 2 types of capital. Partner activity - Do your own chart for any good or service of your choice