ECONOMICS: August 31 --Conclude Scarcity and the Science of Economics (HO from yesterday) Unit Introduction Video Learning Target In order to understand.

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ECONOMICS: August 31 --Conclude Scarcity and the Science of Economics (HO from yesterday) Unit Introduction Video Learning Target In order to understand the limitations on societies due to the fundamental economic problem, I will recognize that people must choose some mixture of products to fulfill their needs and wants. I will know I have it when I can: (1) recognize the challenges arising from the fundamental economic problem; and (2) differentiate between needs, wants, goods, and services. --needs vs. wants; fundamental economic problem; goods and services; paradox of value Learning Target In order to understand the challenges resulting from the fundamental economic problem of economics, I will analyze the different ways that societies and countries deal with this problem. I will know I have it when I can identify the three ways that three types of societies choose to answer the three economic questions. --Ch. 1, Lesson 1, Day 2 HO begins here --begin Adam Smith & the Invisible Hand Assignment: --read Chapter 1, Lesson 2