Practicing with a graph and EOCT Questions

Slides:

Advertisements

Similar presentations

The Important Thing About By. The Important Thing About ******** The important thing about ***** is *****. It is true s/he can *****, *****, and *****.

Advertisements

THE NUMBER LINE zero – neither (+) or (-) negative numberspositive numbers.

Ch 1, Sec. 2 – Opportunity Cost

Production Possibilities Curve Economics Mr. Alvarez.

The Production Possibilities Curve

Introduction to Budget Lines and Production Possibilities Curves.

McGraw-Hill/Irwin Copyright  2008 by The McGraw-Hill Companies, Inc. All rights reserved. Trade-Offs Scarcity implies trade-offs TANSTAAFL What determines.

Determine whether each curve below is the graph of a function of x. Select all answers that are graphs of functions of x:

Comparative Advantage and Trade Lesson 1.4. Gains From Trade We all benefit from Trade, simply because we cannot do everything ourselves. Not only does.

Using Transformations to Graph the Sine and Cosine Curves The following examples will demonstrate a quick method for graphing transformations of.

Question #1 Why is the concept of ‘scarcity’ important in rich countries as well as poor ones?

CHAPTER 7-1 SOLVING SYSTEM OF EQUATIONS. WARM UP  Graph the following linear functions:  Y = 2x + 2  Y = 1/2x – 3  Y = -x - 1.

Classical Long-Run Policy Chapter Chapter Goals  Define growth, list its benefits and costs, and relate it to living standards  Discuss the relationship.

Chapter One Vocabulary Terms and Concepts. Economics the study of the choices people make about how to best use scarce resources to satisfy their wants.

BASIC FUNDAMENTALS PRACTICE QUESTIONS. BASIC FUNDAMENTALS QUESTION 1 Which describes scarcity? A A condition where supply exceeds demand. B The situation.

Specialization & Comparative Advantage Comparative Advantage.

Review From last Class What does “marginal” mean? T or F: You should continue consuming something as long as marginal benefit > marginal cost. If MB is.

What does conversion mean? A change in the units or form of a number or expression.

Standard  SSEF2a- Illustrate the production possibility curve  SSEF2b-Marginal Cost v. Marginal Benefit = Rational Decision Making.

2.8B Graphing Absolute Value Inequalities in the Coordinate Plane 1. Find location of the absolute value “V”  a I x – h I + k 2. Determine if graph is.

Method of Graph sketching Solve the quadratic inequality x 2 – 5x + 6 > 0 graphically.

Notes #3 - Production Possibilities Frontier Economics MHS Mr. Burdette.

Interpreting Graphs EOCT Prep.

SOLVING SYSTEM OF EQUATIONS Unit 1. System of equations Define: system of equations- a set of two or more equations Define: solution of a system- ordered.

Unit 1: Basic Economic Concepts

Unit 1: Basic Economic Concepts

Chapter 1 What is Economics?.

Production Possibilities Curve

Unit 1: Basic Economic Concepts

Milk costs x cents per half-gallon and y cents per gallon

Unit 2: Basic Economic Concepts

[ 1.3 ] Production Possibilities Curves

Production Possibilities Curve

Opportunity Cost & Guns and Butter

Arthur can milk a goat in 10 minutes and shear a sheep in 4 minutes

Vocabulary Terms Chapter 1.

Grilled-Cheese Business Break-down of Costs

Making Choices Should you watch “The Office” tonight? How about “American Idol?” If you do, what are you giving up? - Studying - Watching another show.

Solving Equations Graphically

2.2 Square Root of a Function Square Root of the Linear Function

CHARTS AND GRAPHS on the EOC, you will see several charts, graphs, and cartoons… lets talk through the How To 

Production Possibilities

When you are absent, when you want to review, or if you want to preview the day’s lesson, you can find the class presentations at.

True or False: Suppose the graph of f is given

THE BASICS OF ECONOMICS

Comparative Advantage

ECONOMIC DECISION MAKING

Arthur can milk a goat in 10 minutes and shear a sheep in 4 minutes

4.8 – graphing functions Textbook pg. 253 Objective:

Chapter 2- The Economizing Problem

For the function g(x) whose graph is given, which of the following numbers is greater? {image} or 0. {applet} {image}

Graphing Supply.

Finding the Total Area y= 2x +1 y= x Area = Area =

Unit 1: Basic Economic Concepts

For the function g(x) whose graph is given, which of the following numbers is greater? {image} or 0. {applet} {image}

Determine the graph of the given function. {image}

Production Possibilities

Unit 1: Basic Economic Concepts

Bell Ringer Login into Google Classroom and answer the questions for pg minutes Google Classroom Code: p7bymom.

Lesson Quizzes Standard Lesson Quiz

Finding the Total Area y= 2x +1 y= x Area = Area =

= x 2 = = 20 4 x 5 = = 16 4 x 4 = = 18 6 x 3 = = 12 2 x 6 = 12.

Unit 1: Basic Economic Concepts

Unit 1: Basic Economic Concepts

Unit 1: Basic Economic Concepts

True or False True or False

The Production Possibilities Curve

Presentation transcript:

Practicing with a graph and EOCT Questions Production Possibilities Curve

What does “guns” represent? What does “butter” represent? When you move from point X to point Y, what are you gaining? When you move from point X to point Y what is your opportunity cost?

Use the following production possibilities curve to answer question number _1___: 1. Which statement is true about the graphic above? A Moving from point X to point Y incurs an opportunity cost of guns. B At point X, this country is producing more butter than guns. C Moving from point X to point Y incurs and opportunity cost of butter. D This country does not have to give up any guns to produce more butter.

Use the following graph for question #_2__: 2. On the graph above, shifting production from 10 lbs of cheese to 20 lbs of cheese means an opportunity cost of A 1 gallon of milk. B 7 gallons of milk. C 10 pounds of cheese. D 20 pounds of cheese.

key 1. A 2. A