CHOOSE A GROUP OF 3-4 TO SIT WITH We will do new seats tomorrow

Updates ■Schedule: all assignments are the same; Test on Friday ■Primary Updates ■ ary-calendar-and-results.html?_r=0http:// ary-calendar-and-results.html?_r=0 ■April 19 th : New York/ April 26 th : PA and 4 others ■

Agenda ■We will go through a few different topics today with activities for each –PPF Multiple Choice –Circular Flow Chart, Questions, and Video –Top Ten Products –Macro vs. Micro Economics –Micro and Macro Questions –Micro: Cost of College?  Work with the people in your groups to try and answer as many questions correctly as possible

PPF Questions ■Work with your group to answer as many questions correctly as possible ■There is a front and back ■Goal is to get as many correct as possible ■Each group member should write on their own paper, but one copy will be used to represent the group

Pass Your Paper to the Left ■The group to your left will grade your paper for you ■10 possible points

Firm Gov’t Households Taxes Factor Market Product Market Capital, Entrepreneurship, Land, Labor Resources Goods and Services Purchases Revenue Household Income Factor Payment Purchase of goods/services Household income, interest

Circular Flow Questions ■Decide where each transaction would take place. You will choose either: –Factor Market –Product Market

Pass Your Paper to the Left ■The group to your left will grade your paper for you ■10 possible points

Top Ten Best-Selling Products of All Time ■See how many your team can name! ■Hint: products can be movies, books, objects, toys/games, larger items, or music!

Pass Your Paper to the Left ■The group to your left will grade your paper for you ■10 possible points

Top Ten Best Selling Products 1.Play Station 2.Liptor (blood pressure) 3.Corolla 4.Star Wars (all movies included) 5.iPad 6.Mario Brothers Franchise 7.Michael Jackson’s Thriller albulm 8.Harry Potter (everything included) 9.iPhone 10.Rubik’s Cube

Definitions to Know Write these on the back of your circular flow chart ■Market: is not a place, but a collection of buyers and sellers, wherever they may be ■Macroeconomics: the study of the economy as a whole –How economies grow –How economies collapse –How to grow without collapse ■Microeconomics: the study of how people make decisions and how those decisions affect others in the economy –Any decision affecting an individual, or a small group/business

Micro or Macro? ■Answer the following questions to decide if they are examples of macro or micro economics

Pass Your Paper to the Left ■The group to your left will grade your paper for you ■10 possible points

Micro Example: Cost of College ■Each group member will complete their own example to determine the cost of college ■Read through the article and answer the questions