Aim: What is scarcity and why is it important?
Bell Ringer: Review figure 1.1 then answer Journal 1 – Why is the basic problem of economics, scarcity, a universal problem?
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 (10 min)
- 3. Complete the note-taking guide (What is Economics?) using their textbook (McGraw-Hill Economics Principles and Practices pp. 6-25), online resources, or class notes as appropriate. Teachers may want to guide students through completing the notes, have students work in small groups, or independently. (rest of class)
Home Learning: Complete your designated portion of the note-taking guide (What is Economics?). Use online resources.
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