Unit 1 Day 6

Take Out Your Notebooks Think back to the activity from Friday. In your opinion, what were the 2 least important products: –Food –Housing –Medical Care –Education –Clothing –Entertainment Be prepared to share!

Tests, Reminders & Notes

New Groups ChadSethDanielle ZackMichael Baggott KyleKendallMatthNicoleArron HillaryMichael Brannen ShannonLaceyHaleyVirginiaBrandon Teacher Desk/ Work Area ErinMorganTaylor

1 st Period ChadSethDanielle ZackMichael Baggott KyleKendallMatthNicoleArron HillaryMichael Brannen ShannonLaceyHaleyVirginiaBrandon Teacher Desk/ Work Area ErinMorganTaylor

New Groups MeganJustinXavierAndrew PaigeCyndileeChrisCharleeRyanStacey AmandaChelseaBrettJessicaTimCourtneyKylie Teacher Desk/ Work Area ForrestLaceyAlisonJordanAvery DanielMorganEmily

2 nd Period MeganJustinXavierAndrew PaigeCyndileeChrisCharleeRyanStacey AmandaChelseaBrettJessicaTimCourtneyKylie Teacher Desk/ Work Area ForrestLaceyAlisonHaleyJordanAvery DanielMorganEmilyAlex

New Groups Dee MoriahKristenKaylaJade(Empty) DrewStevenKaraAmberBethany(Empty)Kevin HarleyJDCourtneyNickSoniaDavidMelissa Teacher Desk/ Work Area Jordan Edwards JonathanJordan Marin Andre’MandieLauren KaylaDaylanCatherinePhillipJustin RavenRyneMaggieKelsea

4 th Period Dee MoriahKristenKaylaJade(Empty) DrewStevenKaraAmberBethany(Empty)Kevin HarleyJDCourtne y NickSoniaDavidMelissa Teacher Desk/ Work Area Jordan Edwards Jonatha n Jordan Marin Andre’MandieLauren KaylaDaylanCatherinePhillipJustin RavenRyneMaggieKelsea

Write This In Your Notes: Trade-offs = all the choices Opportunity cost = cost of best alternative given up. Trade-offs OR Opportunity Cost

Lebron Duke or the NBA?

A teacher who shall not be named …their story.

Opportunity Cost (You Don’t Have To Write/Draw This) Mac Macbook iPod iPod touch iPhone iPad

Assignment Don’t write your name on this paper. Answer the following question: What is the opportunity cost to you of being in a relationship? In other words, –A) What would you be doing as a single person, that you couldn’t do (or couldn’t do as often) if you were in a relationship. –B) Relationships can cost time & money, among other things. What would you do with the time/money you saved if you were single?

On the opportunity costs of relationships

Write This: Opportunity cost is not money or time. It’s the next best opportunity you gave up.

Two Tests Tomorrow The Options

Production Possibilities Frontier Copy Board Work Into Your Notebooks

Worksheet Should be completed by each student. You may work on this with your partner.

Clicker Quiz As A Class. Good Luck!

1) You’ve narrowed down your options of how to spend $20 to either take your date out to A) eat OR B) the movies. What is your opportunity cost if you choose to go to the movies? A) $20 B) The amount of time that the movie lasts. C) The pleasure you would have gotten from eating the meal. D) $10, since your date gets half of it spent on her.

2) A country is going to war & decides it needs to make more guns. Which answer is realistic in this situation? A) move from A to C B) move from D to A C) move from B to A D) move from A to B

3) With current production at point A, what would the opportunity cost of 90 more guns be? A) 5 butter B) 540 butter C) 54 butter D) 50 butter

4) Which point represents inefficient use of resources? A) P B) O C) M D) X

5) Production at which point could cause the economy to grow? A) P B) O C) M D) X

6) It is currently impossible for the country to produce at which point? A) P B) O C) M D) X

7) Which best represents a situation where a country’s productivity increases? A) moving from Y to G B) moving from CD to AB C) moving from Z to Y D) moving from CD to EF

8) What is the opportunity cost of two pies? A) 0.5 cakes B) 1 cake C) 2 cakes D) 3 cakes

9) What is the opportunity cost of four pies? A) 0.5 cakes B) 1 cake C) 2 cakes D) 3 cakes

10) What is the opportunity cost of 1 cake? A) 0.5 pies B) 1 pie C) 2 pies D) 3 pies

Marker Board Assignment 1) Draw a PPF using the information above. Label each point. 2) What is the opportunity cost of moving from Point C to Point D? 3) Say this country is producing at Point B. What is the opportunity cost of moving to Point E?