1. Friday, January 13, 2017 Write the title, “Homeroom 1/13/17”
What is happening next week that will change the United States government?
Write the title “CNN 10”
Write down the three topics
Flooding
Stonehenge
Speeches

2. January 13, 2017
Write out the question below and answer it to the best of your ability: What are three reasons why people may think Economics is boring?

3. Homework
None due today Any missing work or late work, including signed syllabus pages, should be turned in to the folder at the front of the classroom

4. Review
Economics is the science that studies the choices of people trying to satisfy their wants in a world of scarcity.

5. Review Every choice has a cost. Costs are not always money.
Costs can be things like time, attention, friendship, sadness, fear, etc…..

6. Review
Resources are needed to produce the goods and services that satisfy our wants. However, resources are limited.

7. Review
Scarcity occurs when our wants are greater than the resources available to satisfy them. Scarcity results in the need to make choices. Regardless of our level of income, each of us must make a choice when purchasing goods or services.

8. Review
An opportunity cost is the most valued opportunity or alternative we give up when we make a choice. Opportunity Costs usually meet the same function, but in a different way.

9. Economics is the study of mankind in the ordinary business of life
--Alfred Marshall

10. [& learn some economic concepts]
Let’s try an exercise:
[& learn some economic concepts]
Your group is building a new zoo.
You have to decide what animals to have.
Space is limited. You get 25 acres.
Take 8-10 minutes to make your selections, based on the next slide.

11. Zoo Choices – 25 acres total!
Lion - 2 acres
Turkey - 1/10 acre
Giraffe -1 acre
Seal - 1/2 acre
Camel - 1/2 acre
Cheetah - 1 acre
Cow - 1/3 acre
Monkey - 1/2 acre
Asian Elephant - 1 acre
African Elephant acres
Reptile House - 5 acres
Hammerhead Shark - 1/2 acre
Kangaroo - 1/2 acre
Tiger - 1 acre
Whales - 3 acres
House of Birds - 5 acres
*Numbers are acres required for ONE animal (hint: they don’t like being alone!)
[If you had 2 of each, it would take over 34 acres–so you will have to make choices.]

12. 25 ACRES
Lion - 2 acres; Turkey - 1/10 acre; Giraffe -1 acre; Seal - 1/2 acre; Camel - 1/2 acre;
Cheetah - 1 acre; Cow - 1/3 acre; Monkey - 1/2 acre; Asian Elephant - 1 acre;
African Elephant acres; Reptile House - 5 acres; Hammerhead Shark - ½ acre;
Kangaroo - 1/2 acre; Tiger - 1 acre; Whales - 3 acres; House of Birds - 5 acres.
*Numbers are acres required for ONE animal (hint: they don’t like being alone!)
[If you had 2 of each, it would take over 34 acres – so you will have to make choices.]

13. 25 ACRES Two camels Two seals
To get you started here are some examples of what you might do!
Two monkeys
This would have taken care of 7 of the 25 acres. 18 more to go!
Two
Asian
elephants
Two camels
Remember that 2 of each
helps future zoo stock.
Two seals
Two tigers

14. Question
Prompt: When a committee has to make decisions for a new zoo, what are challenges they face?

15. Example: high interest exhibits people will pay to see
Honors Question
Prompt: What are five factors that a committee must keep in mind when they are planning a new zoo?
Example: high interest exhibits people will pay to see
Make sure your answer gives the factor and explains how it effects their decision, or why it is important