Discuss the following question with your group: Should people be allowed to sell their organs (kidney, liver, etc.) for money? Explain your answer.

Slides:



Advertisements
Similar presentations
Agricultural Commodities
Advertisements

Social Goals vs. Market Efficiency Chapter 6: Section 3 Kishan Patel, Harriotte Davis, Katherine Bishara, Sava Patel.
The National Council on Economic Education/John Templeton Foundation Teaching the Ethical Foundations of Economics Lesson 7: Should We Allow a Market For.
PRICES Chapter 5.
Price Floors and Ceilings
A relationship between price and quantity demanded in a given time period, ceteris paribus. Cēterīs paribus (Latin phrase), literally translated as "with.
Chapter 3: Demand and Supply
LATIHAN INTRO dan THESIS STATEMENT
Social Goals vs. Market Efficiency As a market, we share seven economic and social goals. Sometimes these goals are in conflict with each other. Goals.
Week 14 Managerial Economics. Order of Business Homework Assigned Lectures Other Material Lectures for Next Week.
Entrepreneurship Unit 1.1: Understanding basic economic concepts related to business ownership.
Strategies to Determine Optimal Prices Entrepreneurship 1 ~ 5.02 B.
How does supply and demand impact you personally?
1 Essential Question: Identify the two ways that producers can increase profit, List and briefly describe the 6 non-price determinants of supply, and evaluate.
Demand, Supply, and Elasticity. Markets In a market economy, the price of a good is determined by the interaction of demand and supply.
Chapter 5 Supply Curves Factors of Supply Supply Curve Shifts.
Economics.   The quantity of a good or service that producers are willing and able to offer for sale at various prices  Aka-the amount of stuff available.
Supply and Demand at Work 21.3 & What is Supply and Demand The amount of goods a producer is willing to sell at market prices. Opposite of demand.
Chapter 6.1: Prices.
Prices as a System Prices help consumers and producers make decisions
Welcome Teachers! The Ethical Foundations of Economics EconomicsWisconsin and Centers for Economic Education at University of Wisconsin-Milwaukee University.
Price: Supply and Demand Together. Finding Market Equilibrium Supply and Demand work together to determine price. Surplus: The condition in which the.
Price: Supply and Demand Together 9B Social – Economics.
Supply and Demand Equilibrium Adapted from material provided by Hudson Falls High School.
Price Supply and Demand. 4 P’s…Prices in a Free Market Some companies have no control over the prices they can sell their good for if one product is the.
Supply ©2012, TESCCC Economics Unit 4, Lesson 1. Objectives 1.Define supply. 2.Explain the law of supply. 3.Analyze the relationship between cost of production.
Prices Chapter 6.
How Markets Work Demand. Introduction Economics is about choices that people make to face scarcity and how those choices are affected by incentives. Prices.
Competition and Markets
Chapter 6 Market Forces 6.1 Price, Quantity and Market Equilibrium
Economics Unit 4 Supply. Supply refers to the various quantities of a good or service that producers are willing to sell at all possible market prices.
Unit 2: Supply, Demand, and Consumer Choice 1. Review with your neighbor… 1.Define scarcity 2.Define Economics 3.Identify the relationship between scarcity.
How Markets Work Demand & Supply. Introduction Economics is about choices that people make to face scarcity and how those choices are affected by incentives.
3 CHAPTER Demand and Supply © Pearson Education 2012 After studying this chapter you will be able to:  Describe a competitive market and think about.
Economics Learning Steps 8/15/12. Dream Book Journal Entry & Standard SSEMI2 Elasticity Review Quiz & SSEMI2 Test Review.
Chapter 6: Price.
APK: Activation of Prior Knowledge Write at least 3-5 sentences describing a time when… you were willing to pay any financial price for a good or service.
Combining Supply and Demand Buyers and sellers have to meet at a certain point Buyers and sellers have to meet at a certain point This point is called.
1.2.5 Unit content Students should be able to:
Money Supply and Inflation Chap. 30 How does an increase in money supply cause inflation? Learning Targets: Neutrality of Money Real Goods vs. Nominal.
Chapter 6 Prices and Decision Making
POB 4.01 PARTS 1 & Understand financial planning.
Aggregate Demand Aggregate demand is the total demand in an economy for all the goods and services produced. The aggregate demand schedule is a schedule.
Social Goals v. Market Efficiency. How could economic and social goals conflict? -This is partially the reason government plays a role in the economy.
Manipulating Supply & Demand Price floors and ceilings.
Chap. 6.1 Market Forces. Market Equilibrium Equilibrium- when the quantity consumers are willing and able to buy equals the quantity that producers are.
Should We Allow a Market For Transplant Organs? Or... Brother, can you spare a kidney?
Prices Chapter 6. Price The monetary value of a product as established by supply and demand Signals: High prices: producers to produce more and for buyers.
Prices and Decision Making Section 1 – Prices as Signals
Law of Demand ~ the amount of a product people will buy at different prices $20 $18 $16 $14 $12 $10 $8 $6 Demand Curve (D)
FREE ENTERPRISE & Supply and Demand. At the end of class today, for a grade: Exit Ticket: 1. Draw the supply and demand graph, with these parts labeled:
© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 1 Consumer’s Role in the Economy Objectives: By the end of class, students will be able.
Intro to Business Supply, Demand and Price Target: I can describe how costs and revenues affect profit and supply.
Chapter 6 Prices. Bell ringer 3/27 Draw a supply and demand curve on the same graph. From there, show what would happen if there were an increase in supply.
Supply What is Supply? –Obj: Explain how supply works.
Presented By Dr / Said Said Elshama
How are prices influenced?
Supply and Demand Ch. 20.
Market Supply and Price Determination
Ch. 6: Equilibrium The Price is “Right”!.
Price Controls.
4.01 Understand financial planning.
Supply & Demand # 5 What is Supply?.
Unit 2: Supply, Demand, and Consumer Choice
Unit 2: Supply, Demand, and Consumer Choice
Supply.
Market-Clearing Price Supply and Demand together
Shortage and Surplus By: Ben Quick.
19. The equilibrium quantity for blue jeans is 60 pairs.
Supply Chapter 4.
Presentation transcript:

Discuss the following question with your group: Should people be allowed to sell their organs (kidney, liver, etc.) for money? Explain your answer.

Shortage: Occurs when more people want something than there is available (quantity demanded is greater than quantity supplied). Incentive: A reason to do something. Commodity: A raw material or agricultural product (EX: Oil, Wheat, Coffee Beans).

Inadequate : Lacking the quality or amount required. Unscrupulous : Having no morals. Not honest or fair. Rebuttal : An argument to disagree with what another person has said.

 You are a member of Congress who is considering proposing a bill that would legalize organ donation. Create the bill and be sure to include the following details: 1. How will donors be compensated? (Cash upfront? Money to leave to relatives or charity?) 2. Will government set a limit on how much can be charged? 3. Can donors still be living when the surgery takes place (if it’s for profit)?