Southwest Asia The Middle East FSMS 7th Grade Social Studies; Unit 3 Production, Distribution & Consumption Factors Affecting Economic Growth & Foreign Exchange Georgia Standard SS7E7a.b

FIRST FIVE Agenda Message: Final SWA Project Presentations are Tomorrow! Reminder that Choice Board Projects due December 14th. Standard: Describe the factors that influence economic growth and examine their presence or absence in Israel, Saudi Arabia, and Iran Essential Question for Monday, 12/3/18: What is the definition for entrepreneurs and why are they important for economic growth? Warm Up: What are the definitions for Human Capital, Capital & Natural Resources? Today We Will: Review Factors that Encourage Economic Growth

ANSWERS E.Q. Answers for Monday December 3, 2018: Entrepreneurs are creative, original thinkers who are willing to take risks to create new businesses and products. Entrepreneurs think of new ways to combine productive resources (natural resources, human capital, and capital) to produce goods and services that they expect to sell for a profit. Warm-Up: Human Capital – Education & training of workers Capital Goods – Factories, machines & technology that people use to make other products Natural Resources - The raw materials a country has that make life and production of goods possible. (Land, water, forests, rich soil, and minerals are types of natural resources.)

FIRST FIVE Agenda Message: Final SWA Project Presentations are Today! Economics Vocabulary Quiz is Thursday. Choice Board Project due date is Dec. 14th. Standard: SS7E6 The student will explain how voluntary trade benefits buyers and sellers in Southwest Asia and how specialization encourages trade between countries. Essential Question for Tuesday; 12/4/18: Why do countries trade with one another? Warm-Up: List the three Basic Economic Questions TODAY WE WILL: Start International Trade, Specialization, Trade Barriers

ANSWERS E.Q. Answers for Tuesday December 4, 2018: No Country is completely self-sufficient (meaning it has all the products, goods and services that it needs), as a result, countries trade with one another for those items they do not or cannot produce themselves. Warm-Up: What goods and services will be produced How will goods and services be produced, and Who will consume the goods and services that are produced

FIRST FIVE Agenda Message: After-school tutoring offered Today and Wednesday 4-5p. Deadline for late/missing assignments is Friday December 8th. Standard: SS7E6 The student will explain how voluntary trade benefits buyers and sellers in Southwest Asia and how specialization encourages trade between countries. Essential Question for Tuesday; 12/5/17: What are Trade Barriers? Warm-Up: Why do countries trade with one another? TODAY WE WILL: International Trade, Specialization, Trade Barriers

ANSWERS E.Q. Answers for Wednesday December 5, 2018: Trade Barriers are anything that slows down or stops trade between countries all together Warm-Up: No Country is completely self-sufficient (meaning it has all the products, goods and services that it needs), as a result, countries trade with one another for those items they do not or cannot produce themselves.

FIRST FIVE Agenda Message: Economics Vocabulary Quiz is tomorrow, Friday. Choice Board Project is due Dec. 14th. Standard: Explain why international trade requires a system for exchanging currencies between nations. E.Q. Thursday; 12/6/18: Why does International Trade require a system for exchanging different currencies between nations? Warm Up: Briefly explain why nations trade with one another. TODAY WE WILL: Foreign Exchange Rates/Exercise Environmental Issues

ANSWERS E.Q. Answers for Thursday December 6, 2018: Each country has their own currency or money. Different currencies have different values. In international trade, countries must have a system to exchange their currencies with those used by other countries around the world. This system ensures that no one gets cheated in making a trade. Warm-Up: No Country is completely self-sufficient (meaning it has all the products, goods and services that it needs), as a result, countries trade with one another for those items they do not or cannot produce themselves.

FIRST FIVE Agenda Message: Economics Vocabulary Quiz is TODAY! Choice Board Project is due next Friday, Dec. 14th. Standard: Explain why international trade requires a system for exchanging currencies between nations. E.Q. Friday; 12/6/18: No E.Q. Today due to Vocabulary Quiz & shortened Holiday Assembly schedule. Warm Up: No Warm-Up Today due to Vocabulary Quiz & shortened Holiday Assembly schedule. TODAY WE WILL: Vocabulary Quiz

ANSWERS E.Q. Answers for Friday December 7, 2018: None Warm-Up: