1. Find a seat and settle in
Welcome Knight Time
Find a seat and settle in
What would you like to work on while your are here?
Get ready for your next project!

2. Unit 4 Blueprint
Test your knowledge of Unit 4 without the aid of your notes
We will complete 1 page of this blue print each day of KT
Instead of your groups competing against one another, you will compete against those people inside your groups
There will be one winner from each group

3. Budget Project

4. SHH! Quiz in Progress All you need is a pencil
Have a question? Ask a question!
Turn in quiz to class tray when finished
Start working on the Unit 5 Pre-Assessment (half sheet of paper)

5. Consumer Sovereignty Reading
Read the following article regarding consumer sovereignty
Complete the questions
Be prepared to share

6. WELCOME C&E STUDENTS Grab your handouts and settle in
TURN IN YOUR UNIT 4 MENU!!!
Roll Call Question: “Would you rather eat 100 ants or 20 beetles?”

7. Reminders Recovery Next quiz will be Wednesday
Every Tuesday, Wednesday and Thursday in Ms. Divina’s room
Next quiz will be Wednesday
Unit 5 Test will be on 04/19/2016
Peach Pins
5 = hw/cw pass
10 = Open-Notes Quiz
15 = 3 questions on a test
20 = use a notecard on a test

8. Warm Up “What Went Into This Candy Bar?”
List everything that went into making this candy bar from the time someone had the idea for the candy until the consumer purchased the candy in the store

9. Economics: 5.1 Intro to Economics
Identify the basic principles of economics

10. Desert Island
Imagine you are moving to a desert island with no kind of infrastructure.
Write down what you will..
Want
Need

11. Needs v. Wants
What is the difference between the two?

12. I. Scarcity and Choice
Economics- the study of how people seek to satisfy needs and wants with limited resources
Needs and Wants
Need- something necessary for survival
Want- desire not necessary for survival

13. Maslow’s Hierarchy of Needs

14. C. Scarcity- D. Goods and Services
limited quantity of a resource to meet unlimited wants
This is the driving force of economics!
D. Goods and Services
Goods- physical objects
Services- actions or activities that one person performs for another

15. E. Consumer sovereignty
power of consumers to decide what gets produced
producers meet demands or go out of business

16. III. Factors of Production
Resources used to make all goods and services
Land- includes all natural resources
Labor- is the effort for which someone is paid
White collar workers- high skilled office work
Blue collar workers- low skill manual labor

17. Capital- any human-made resource to invest to produce goods or services
Physical capital- buildings, tools, machines, etc
Human capital- knowledge and skills a worker gains through education and experience

18. Entrepreneurs- risk-takers who decide how to combine other factors of production to create new goods and services

19. LETS LOOK AT OUR CANDY BAR
Land
Labor
Capitol
Entrepreneurship

20. IV. Trade-offs
Trade-off- the process of giving up one desire in order to satisfy another desire
Ex: video game vs. give girlfriend a present
Ex: 2 more hours of sleep vs. studying for test

21. Opportunity cost- value of what is given up in a trade-off
Ex: Dating- cost is not dating some other person
Ex: College vs. working- cost is the $ you spend on college and $ you give up from not working

22. Immediate gratification- when you give up something in the long-term to satisfy an immediate want

23. Shark Tank
The prize for the winning team: Peach Pins and Use your notes for an upcoming quiz!
I will present your posters to the AP Macroeconomics students and they will choose the product they would most likely invest in

24. Shark Tank Come up with your own business.
Come up with a name, logo & slogan for your business/product
Explain the factors of production that are used in the development of your business/product.
Describe the goods or services you are providing.
Come up with two trade-offs to consider in the running of your business/product.
What is(are) the opportunity cost(s) of your business/product?

26. Name That FofP!
You will be looking at different elements that fall under one of the four factors of production.
Your job is to correctly identify whether the element is: LAND, LABOR, CAPITAL or ENTREPRENEURSHIP

27. Name that Factor of Production
Bill Gates
Oil
Going to school
Hammer
The night shift at McDonalds
Leather
Executive Office Assistant
8. A forest
9. 10 years experience teaching
10. Paper factory
11. A 10-year old at a lemonade stand
12. Washing machine

28. Answers Bill Gates - E Oil - Ld Going to school - C Hammer - C
The night shift at McDonalds – Lb
Leather – Land
Executive Office Assistant - Labor
8. A forest – Ld
9. years experience teaching – Lb/C
10. Paper factory – C
11. A 10-year old at a lemonade stand – Lb
12. Washing machine - C

29. Team Evaluations
You will be grading your teammates on a scale between 1-5(6) depending on the number of team members you have
Assign the highest number to the teammate (or yourself) who you believe did the best with this assignment
Assign the lowest number to the teammate (or yourself) who perhaps did not contribute as much or anything to the team
Assign remaining numbers to remaining members based on performance

30. Shark Tank

31. Happy Spring Break!
Be Safe and Have Fun!!!!

32. Welcome C&E Students! Grab today’s handouts and settle in!
Roll Call Question: What was your favorite thing you did over Spring Break?
Bell Work:
Tell your neighbor what you did for Spring Break

33. Kahoot!
NAME THAT FACTOR OF PRODUCTION!!!

34. Wedding Pics

35. Shark Tank Winners 1st Block – Fud-Glu 2nd Block – U-Scan
Honorable Mention: Snicker Doodle
2nd Block – U-Scan
Honorable Mention: Speak Up
3rd Block – Shower Shoot
Honorable Mention: Pigment of Your imagination

36. Pre-Break Refresher Let’s review what we covered before break.
Needs v. Wants
Scarcity
Trade-Offs
Opportunity Costs
Immediate Gratification
Factors of Production (Complete the Name That Factor of Production Handout)

37. How Good Are You At Saving?!?
Complete the savings inventory to understand more about your saving habits
Are they good? Or do you need to work on them a little more?

38. Welcome C&E Students! Grab today’s handouts and settle in
Roll Call Question: Would you rather be completely bald or completely covered in hair? (No wigs & no shaving)
Bell Work:
Explain the difference between human and physical capital
Describe a trade-off you have recently made. What was the resulting opportunity cost?
Start working on the “Name Those Factors of Production” handout

39. Reminders
Quiz Tomorrow! (And Friday – Credit v. Debit, Insurance & Checking v. Savings)
Intro to Econ & Budgeting
Unit 5 Test next Tuesday (11/10/2015)
Morning Tutoring
Recovery
Every Tuesday, Wednesday and Thursday in Ms. Divina’s room
Peach Pins
5 = hw/cw pass
10 = Open-Notes Quiz
15 = 3 questions on a test
20 = use a notecard on a test

40. Unit 4 Test Reflection
4.1 – 1, 2, 3
4.2 – 4, 5, 6, 7, 8, 11, 14, 15, 16, 21,
4.3 – 13, 23, 30
4.4 – 9, 10, 12
4.5 – 6, 17, 18
4.6 – 19, 20, 22, 24, 25, 26, 27, 28, 29

41. Evaluate the costs and benefits of budgeting

42. How do Education and Career Choice impact life?

43. Level of Education and Income
Look over your “Level of Education & Income” handout from today
After examining the data answer the accompanying questions

44. Let’s Take a Look at Salaries

45. Why Do Some Jobs Pay More???

46. I. What is a Budget? A. How to spend income v. expenditures (expenses)
1. Income: Amount of money that a person or business makes
a. Gross Income: Total amount of money made before deductions
b. Net Income: The amount of money left over after expenditures
2. Expenditures (expenses): Total amount a person or business spends

47. B. Types of Expenditures
1. Deductions: expenditures before paycheck is received
a. Pre-Tax Deductions
(1.) Retirement Payments
(2.) Life insurance
(3.) Social Security
(4.) Medicare

48. 2. Taxes Federal Income Tax – paid to the US Gov’t
State Income Tax – paid to the State Gov’t

51. C. Types of Bills 1. Mortgage - owning home / Rent – not owning a home
What is a foreclosure?
2. Car Payment
a. Gas Payments
3. Insurance: company “backing” you up
a. Car Insurance: required
b. Home/Renters Insurance : recommended

52. 5. Saving: setting $ aside for a later time 6. General Expenses:
4. Phone Bill
5. Saving: setting $ aside for a later time
6. General Expenses:
a. Groceries
b. Household Items
c. Entertainment

53. Make Your Own Budget Take out your Budget Handout
You will be creating your own budget with the information provided to on the walls
You must budget for the following
Housing, Utilities, Car, Insurance, Gas, Phone, Cable & Internet, Groceries, Saving, Household Items, Credit Payment, Student Loan, Misc.
You must have money left over at the end!

54. Quiz Prep
5.1 – Intro to Econ
5.2 – Budget
Let’s Practice! – Take the Practice quiz on the back of you College & Career Readiness handout.

55. Shark Tank
The prize for the winning team: Peach Pins and Use your notes for an upcoming quiz!
I will present your posters to the AP Macroeconomics students and they will choose the product they would most likely invest in

56. Shark Tank Come up with your own business.
Come up with a name, logo & explanation of the business/product
Explain the factors of production that are used in the development of your business/product.
Describe the goods or services you are providing.
Come up with two trade-offs to consider in the running of your business/product.
What is(are) the opportunity cost(s) of your business/product?

57. Splat!!! Need Gross Income Factors of Production Trade-Off
Federal Income Tax
Consumer Sovereignty
Physical Capital
Expenditures
Scarcity
Labor
Land
Deductions
Mortgage
Want
Pre-Tax Deductions
Opportunity Cost
State Income Tax
Human Capital
Net Income
Economics

58. SPLAT! Checking Account Credit Line Foreclosure Premium Check Debt
Deductible
Interest
Life Insurance
APR
Mortgage
Credits +
Liability
Debit Card
Financing
Credit Card
Credit Score
Co-Pay
Savings Account
Debits -