1. ECONOMICS: January 17 Warm-up
Draw a production possibilities curve with cars on the x-axis and planes on the y-axis. Shift the PPC (inward or outward, your choice) and explain why that shift may have occurred. Learning Target #1 In order to understand the concept of economic growth, I will be able to explain the impact of fracking on the economy. I will know I have it when I can: (1) explain the pros and cons of fracking; and (2) illustrate how fracking impacts production possibilities.
--Why Fracking and Why Now?; taking a look at fracking related maps; fracking debate (pp ); Fracking Mechanics Learning Target #2
In order to understand the interaction of markets, I will be able to explain the roles that people play in the market place. I will know I have it when I can label and explain the circular flow model of economic activity.
--fillable circular flow model (Powerpoint); circular flow model hypotheticals Closure
Real World Application of the PPC: impact of fracking on production possibilities .