Ch. 7-8 Test is Friday, October 20th

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Presentation transcript:

Ch. 7-8 Test is Friday, October 20th ECONOMICS: October 17 Economics Learning Target #1 In order to understand market structures, I will analyze different types of market structures. I will know I have it when, given an industry, I can apply two of the four characteristics of market structures to explain the market structure in which it operates. --market structure gallery walk (HO) Economics Learning Target #2 In order to understand market failures, I will analyze how resources may be misallocated and how the government can direct the allocation of resources. I will know I have it when I can explain how: (1) activity in the marketplace creates negative spillovers (externalities); (2) activity in the marketplace creates positive spillovers (externalities); and (3) how the government can attempt to address spillover by regulating the marketplace using zoning laws. --market structure wrap-up (HO from earlier) Economics Learning Target #3 In order to understand business organizations, I will analyze the different types of business organizations. I will know I have it when I can list and explain the advantages and disadvantages of sole proprietorships especially in terms of: (1) ease of formation; (2) owner and operator liability; (3) ability to raise money;(4) ability to make money; and (5) taxation. --sole proprietorships (HO): definition; advantages; disadvantages; liability Assignment: read Ch. 8, Sect. 1; work on Ch. 7-8 Test Review (HO) Ch. 7-8 Test is Friday, October 20th