Lesson on Wednesday, February 21, 2018

Aim: What are the Factors of Production?  

Bell Ringer: Journal 2 – What is the difference between a need and a want? Give examples of each. How does this affect scarcity? 

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)  

2. YouTube video on Factors of Production: https://www.youtube.com/watch?v=VZD7dTSHmIo  (5 min)  

3. Have students work on a concept map about their assigned section of the What is Economics? note-taking guide. (rest of class) 

Home Learning: 

1. Use Figure1.2 to answer Journal 3 – Describe the four factors of production are necessary to bring clothing to consumers? 

2. Complete your concept map.