9/12/11 Obj: analyze how consumers make economic choices Warm up: List the purchases you made over the last few days (both goods and services).

Only Notes for Today Economics- the study of how individuals make decisions regarding their NEEDS and WANTS A science that deals with the production, distribution, and consumption of goods/services.

How do we make economic decisions? What factors do you think consumers consider before making a purchase? Does everyone view spending money in the same way? Explain. How do we determine if the asking price is reasonable? What factors might influence this decision?

It’s Time to Lay Down Some Sick Beats Please form small groups…you may work individually if you want. Write a rap song that describes the difficult choices facing consumers, including wants vs. needs. Be prepared to perform (or at least read) your rap Be creative, yo.