1. Unit One Day Five

2. Friday, January 27, 2017 Write Homeroom 1/27/17
Answer this question: What are the unintended effects of the Administrators rewarding the staff with bottles of water while they are teaching?
Write the title, “CNN 10”
Write the topics for today
Foreign Leaders
Holiday
Mountain

3. Friday, January 27, 2017
Open your Economics notebooks to your next available page Write the day, date, and year Write out the question and then write your answer: 1. What are 3 costs and 3 benefits for a child to attend Pre-K?

4. Missing Work? Economics Word Art Signed Syllabus Page
Turn in any missing assignments:
Economics Word Art
Signed Syllabus Page
Zoo Activity and Prompt
PPF Problem Set
Incentive Summary
Honors= Honors Paper #1

5. Resources
Costs, Benefits, and incentives all involve the use of resources. There are five different types of resources: 1. Land (renewable) 2. Land (nonrenewable) 3. Labor 4. Capital 5. Entrepreneurship

6. Resources
Use your textbook pages to complete the Graphic Organizer for Resources
Resource
Definition (YOW)
2 examples
Memory Clue

7. Resources
1. Use the Textbook p , for more information on resources 2. Complete p in your workbook 3. Complete p. 5-8 in your workbook 10 minutes individually, then you may choose a partner

8. Resources Graphic Organizer
You are going to create a graphic organizer that could be used in an Economics class. Your organizer will have two parts: Part One: Step by step instructions for students to create and complete your graphic organizer. Think of it like procedures for a lab in Science class ex: Step One= collect a piece of paper Step Two= write your name on the paper Part Two: You will need to have a completed example of the graphic organizer that follows all of your steps Requirements: all five resources are evident, organized and easy to understand Level 4: step by step instruction are clear and easy to understand, organizer has all 5 resources, definitions for resources evident, examples for resources evident, all information easy to see and can be understood by the average Sophomore

9. Entrepreneur Notes
An entrepreneur is a person who takes a risk to create a new product or develops a better way to operate a business.
Risks are one of the main incentives when trying to "make it big" in the business world.
Entrepreneurs are unique individuals who are creative, opportunity seekers, and people who are willing to take a risk when the possibility of great profit is at hand.

10. Entrepreneurs Risk failure consumers not valuing their product
Not finding financing for their business to produce/provide goods and services (to pay their expenses)

11. How Entrepreneurial are YOU?
Survey
You will take the survey, then find your total score

12. Examples of Entrepreneurs Chart
Name
Invention
Risks
Rewards

13. Entrepreneurs
Solve Problems Consumers Have EX: Snuggie, Glow Pets

14. Problem: need rubber for boots during WWII
During World War II, the United States needed rubber for truck tires and soldiers’ boots, but the war made it hard to get a supply of rubber from other countries. So American scientists were asked to invent a product that could be used like rubber. James Wright, a scientist with General Electric, invented a putty that could be stretched into a long string and, when rolled into a ball, could bounce. The bouncing putty was fun, but it was not a good substitute for rubber. In fact, no one could find a use for it.

15. Entrepreneurial Opportunity
Ruth Fallgatter, a toy store owner in New Haven, CT, and Peter Hodgson, a marketing consultant, found out about the putty. They put pieces of the putty in little cases and sold them in the toy store catalog. Ms. Fallgatter lost interest in the putty, but Peter Hodgson decided to put small pieces into plastic eggs and called it _____________ ______________ .

16. The Story of Silly Putty (adapted from The Silly Putty Story at www
The Story of Silly Putty (adapted from The Silly Putty Story at
He took it to toy fairs and demonstrated all of the things that could be done with Silly Putty. It could be bounced like a ball. Children could make animal shapes with it. It would pick up the ink from newspaper pictures. Mr. Hodgson thought that Silly Putty would be profitable.
Mr. Hodgson sold Silly Putty all over the world. He became very wealthy. When he died in 1976, he had an estate worth $140 million.

17. My Problem, My Solution
In partners, you will be given a scenario. You will have to invent something that will solve the problem in the scenario. You will create a sample invention form for your invention that will also include a minimum of two diagrams of your invention.
You will also have to show your sample invention form at the end of class.
DO NOT LET OTHER GROUPS SEE YOUR PAPERS, YOU DO NOT WANT THEM TO STEAL YOUR INTELLECTUAL PROPERTY

19. Invention Presentations

20. Macro or Micro? Macroeconomics Microeconomics
Copy the chart, then use the information on p. 21 of your textbook to write a definition on your chart.
Macroeconomics
Microeconomics

21. MACROECONOMICS
Macroeconomics (from the Greek prefix makro-meaning "large" and economics) is a branch of economics dealing with the performance, structure, behavior, and decision- making of an economy as a whole, rather than individual markets. This includes national, regional, and global economies.

22. MICROECONOMICS
Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources. Typically, it applies to markets where goods or services are bought and sold.

23. On Your Chart Under Each Definition
You will be given an example
You will have to write the example on the correct part of the chart
Take a guess if you need to, we will share answers after the activity

24. Unemployment rate in the food industry Unemployment rate in the USA
Examples
Unemployment rate in the food industry
Unemployment rate in the USA
Consumer choices across the USA
Consumer choices at Hy-Vee
National budget for September
Family monthly budget

25. Unemployment rate in the USA Consumer choices across the USA
Answers
Macroeconomics
Microeconomics
Unemployment rate in the USA
Consumer choices across the USA
National budget for September
Unemployment rate in the food industry
Consumer choices at Hy-Vee
Family monthly budget