1. Entrepreneur- Opportunity

2. What kind of Entrepreneurship did you create?
Warm Up
What kind of Entrepreneurship did you create?
Why is this an example of an Entrepreneurship?

3. Homework: Fill out Study Guide
Write 1 sentence for each term on the study guide which describes the meaning of the word and its connection to Economics

4. Looking Ahead
First Quiz Next Week

5. Engage in Collaborative Learning Analyze resources and value
Learning Objectives
Engage in Collaborative Learning
Analyze resources and value
Interpret how availability of resources impacts Economics

6. Discussion What is a resource?
What does it mean for something to have value?
What resource do you think is the most valuable in Brentwood? Why?
What resource do you think is the most valuable in the United States? Why?
What resource do you think is the most valuable in the world? Why?

7. Thinking about Value in Your Life
Write down the three goods which are most valuable to you
Next to each good, in one sentence, explain why this good is so valuable to you

8. Availability and Shortage
Availability: The extent to which there are enough resources for people to get
Scarcity: There are not enough resources for everyone’s needs and wants
Shortage: So many people want a resource that the producer of the resource has to change the price
Producer: Someone who makes a good or service
Consumer: Someone who buys a good or service

9. Check for Understanding
How do you think the availability of resources will impact the price of the good/service?
If there is a shortage of resources, is that better for the consumer or the producer of the good/service?
What is the difference between scarcity and shortage?

10. Experiment: The Chips Experiment
Each student has 10 dollars
There are 15 Bags of Chips available
1 Bag of Chips=$1.00
You can only buy 1 Bag of Chips in the first Round
There will be More “Purchasing Rounds” after the First Round

11. Thinking about The Experiment
In 2-3 sentences, explain what this experiment tells you about how availability, scarcity, and shortage impact pricing?

12. Chapter 1, Lesson 2: Scarcity, Choices, and Opportunity Cost
Read Chapter 1, Lesson 2
Answer questions 1-7 in Lesson 2 Review on a separate sheet of paper

13. How does availability impact pricing?
Warm Up
What is Availability?
How does availability impact pricing?

14. Homework: Fill out Study Guide
Write 1 sentence for each term on the study guide which describes the meaning of the word and its connection to Economics

15. Looking Ahead
Quiz Next Week

16. Engage in Visual and Auditory Learning
Learning Objectives
Engage in Visual and Auditory Learning
Analyze the meaning of Trade Offs and Thinking at the Margin
Interpret how Opportunity Cost impacts your own life

17. Review Sheet
Matching Section: Write the correct letter next to the correct number (NOT A BUNCH OF LINES CRISS-CROSSING)
Create an Entrepreneur Flow Chart on the back of the paper using the information I gave you

18. Trade Offs
Trade-Offs: Making a decision that leads to someone having to decide between one choice or another
Example: Since I love Pugs, I decided to get Biggie rather than a Pitbull

19. Trade-OFFS in Your Life
The class is going out to eat at a restaurant. We have to decide what type of food we are going to eat…
What are your three favorite restaurants?
What are good things about going to these restaurants?
What are bad things about going to these restaurants?
After you have answered these questions, as a class, we will decide where we are going to eat based on good and bad things about these restaurants

20. Check For Understanding
How did our restaurant activity show a Trade-Off???

21. Opportunity Cost Opportunity- A chance to do something
Opportunity Cost- The best choice lost due to a decision being made
In our restaurant activity, what was the Opportunity Cost of our decision?
In our “Chips Experiment”, what was your Opportunity Cost?
Think of the most important decision that you have made since school started…what was the Opportunity Cost of this decision?

22. Opportunity Cost in the Media
Bend it Like Beckham:
What was the Opportunity Cost for this woman to play soccer?
The Hurt Locker:
What is the Opportunity Cost for this soldier of fighting in Iraq?
Creed:
What is the Opportunity Cost for Creed if he lets Rocky become his trainer?
What is the Opportunity Cost for Rocky if he becomes Creed’s trainer?

23. Thinking at the Margin
Thinking at the Margin: Deciding how much more or less to do
What decisions does Jerry have to make?
How are these decisions examples of “Thinking at the Margin”?
What are the possible Opportunity Costs of these decisions?

24. How do you make decisions?
Warm Up
What is a decision?
How do you make decisions?

25. Homework: Complete Study Guide
Write 1 sentence for each term on the study guide which describes the meaning of the word and its connection to Economics

26. Analyze Decision-Making Grids
Learning Objectives
Analyze Decision-Making Grids
Apply Economic Principles to your own life
Prepare for Quiz

27. Looking Ahead
Quiz= 2 classes

28. A Decision-Making Grid includes the following:
Decision- Making a choice to do something
Benefit- Goods things about that choice
Cost- Bad things about that choice

29. Example: Should I play Soccer or Tennis
Decision
I will play Soccer
I will play Tennis
Benefit
More Exercise
More people watch
More chance to stand out
Less Competition
Cost
Less chance to stand out
More Competition
Less Exercise
Fewer people watch

30. Decision-Making Grid
You will be making a Decision-Making Grid for the following decisions:
Sleep longer in the morning or getting up early to study for the quiz
Downloading music without paying for it
What you want to do after high school

31. Check for Understanding
What is the difference between a cost and an opportunity cost?

32. Fill out the matching section Write an example for each term
Quiz Review Sheet
Fill out the matching section
Write an example for each term
Create an Entrepreneur Flow Chart

33. Charades
You will get a card with a word or concept that is going to be on the quiz
You have to get someone from the class to guess the word WITHOUT MAKING SOUNDS OR NOISE (YOU CAN’T SAY ANYTHING)
If you get someone to guess the word without saying anything, you will get 3 points extra credit on the quiz

34. Create your own Quiz
What questions do you think will be on the quiz next week? Create your own quiz based on what you think will be on the quiz!
Your quiz needs to have a matching section with ten vocabulary terms
Your quiz needs to have a multiple choice section with five different questions, with four choices for each question
DON’T ANSWER YOUR OWN QUESTIONS!!! You just creating your own quiz, not taking a quiz

35. Exp. What do you need to put in a decision-making grid?
Warm Up
Write down three questions that you have about the content of the quiz next class
Exp. What do you need to put in a decision-making grid?

36. Homework: Complete Study Guide
Write 1 sentence for each term on the study guide which describes the meaning of the word and its connection to Economics

37. Synthesize the Basics of Economics
Learning Objectives
Synthesize the Basics of Economics
Review material that will be on quiz
Engage in Collaborative Learning

38. Quiz=Next Class
MAKE SURE YOU STUDY

39. Switch your warm up with a partner Answer your partner’s questions
Pair-Share Warm Ups
Switch your warm up with a partner
Answer your partner’s questions
Switch back and see if you both understand
ASK QUESTIONS IF YOU DON’T UNDERSTAND

40. THIS IS THE ONLY TIME YOU WILL BE ALLOWED TO USE YOUR CELL PHONES
Kahoot.It
THIS IS THE ONLY TIME YOU WILL BE ALLOWED TO USE YOUR CELL PHONES
Login to Kahoot.IT
Put in your name
Enter the Pin Code that I will show you

41. Jeopardy
RULES:
Your group will be allowed to choose which category they want to answer a question from
Once someone from your group answers: that is the group’s final answer to the question!
Your group has 1:00 minute to answer the question
If your group gets the question wrong, the question goes to the group after you, and they have 30 seconds to answer the question
If someone in your group doesn’t follow the Class Norms, your whole group will lose points

42. Re-write the lyrics to a song
In a group of 4-5, pick a song of your choice, and rewrite the lyrics using terms, concepts, and ideas that will be on the quiz
You have to write out a script for your song
The script has to have at least ten lines and include lyrics that will help you review for the quiz