1. AP ECONOMICS: January 24
Warm-up Draw a production possibilities model with the y-axis labeled “consumer goods” and the x-axis labeled “capital goods”. Place a point “X” on the model representing unemployed resources. Then, develop a scenario that would cause the curve to shift outward from the origin. Can a country produce beyond the new PPC? Why or why not?
Check Worksheet 6.4 (HO from earlier)
Learning Target In order to establish a thorough understanding of the workings of a free market economy, I will analyze market equilibrium. I will know I have it when, on a supply and demand graph, I can show and explain an example of: (1) equilibrium; (2) a surplus; and (3) a shortage.
--Worksheet 7.1 (HO)—work together (full class) --Worksheet 7.3 (HO)—pair up and practice
Assignment
GC Assignment #7 (Module 7)
Tue.: FRQ #1 (Production Possibilities) & FRQ #2 (Comparative Advantage)
Wed.: MCT #1