Aim:
What is Scarcity and the Factors of Production?
Journal 54 – Explain how the circular flow of economic activity generates wealth in an economy.
Objectives:
1.
Students will use geographic terms and tools to explain differing perspectives
on the use of renewable and non-renewable resources in, the United States and
the world.
2.
Students will identify the factors of production and why they are necessary for
the production of goods and services.
Agenda:
1.
Bell Ringer (15 min)
2.
YouTube video (10 min)
Home
Learning: Study your 'What Is Economics?' Note-taking guide / prepare for
tomorrow's test. We did not complete Journal 54, so please watch the video below and answer Journal 54.
The next video may help you understand "The Circular Flow" of economic activity:
This one explains "The Circular Flow" in a different way:
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