Starter # 1  What is the supreme difference between your wants and your needs?

Closer # 1  Are people animals?  Does having life mean to be greedy?

Starter # 2  Define “Globalization”.  What problems might arise due to the continuing connectedness of the world economy?

Closer # 2  How many countries are you wearing?  Write down all the different countries that you can….socks, shoes, shirt, jewelry, etc…  What are your feelings about the low wages the workers were paid to manufacture those items. Explain.

Starter # 3  In your opinion, does the United States do a sufficient job providing for equality of the distribution of production?

Closer # 3  Socialism vs. Laissez Faire  Where do you stand on this idea?

STARTER # 4  “Every decision made by the US government for the past 226 years have been about preserving the economy.” - Phil Ugalde Respond to this quotation and back up your response with at least two examples and explain.

CLOSER # 4  Congratulations!!! You are middle-class!!  Define it formally. In your own words…and  Describe what that means to you if anything.

Starter # 5 “Any man that cannot draw on two thousand years of human history is living from hand-to-mouth.” Ben Franklin  Respond to this quotation.

Closer # 5  “The things you own, …end up owning you.” - Tyler Durden, Fight Club  Respond

Starter # 6  Pick your favorite product. Whatever?!  What effect does this product have on the environment overall? Discuss…

Closer # 6  Concerning your favorite product mentioned in the Starter…. What is the highest price that you would pay for that item? Explain how your tastes may change over time.

Starter # 7  How do you determine the value of something?  Really think about this How do you put a price? Discuss all the factors and calculations you might think of to determine whether something is valuable or not.

Closer # 7  Imagine in the near future that a massive earthquake happens. What types of things should be in earthquake survival kit? Why?

Starter # 8  Going back to the ideas of socialism vs laissez faire and the idea of scarcity…  Describe what problems might arise from a state of “pure capitalism”.

Closer # 8  The black market is all around us.  Why is the “black market” bad for the economy?  OR  Is it a necessary evil?

Starter # 9  Adam Smith stated that the economy is controlled by an “invisible hand”. What does that mean to you?

Closer # 9  What is your favorite product? Why?

Starter/Closer # 10 synthesis Concerning your favorite product…Review the following:  Opportunity cost,  how the economic questions are answered for it,  factors of production involved,  whether or not it is a necessity provided by socialism,  marginal utility and diminishing marginal utility, advertising,  how each of the aspects that affect demand (B.I.T.E.R.) would effect your favorite product.