Download presentation
Presentation is loading. Please wait.
Published byJonas Lawrence Modified over 8 years ago
1
What were some of the hard choices you had to make yesterday? (Who lives and Who Dies)
2
MOVIE QUIZ 1.) List 3 Ways Roman society was violent. 2.) Why did the Emperor sponsor the Gladiators? 3.) List 3 elements of the Roman Water system. 4.) Why was Julius Ceasar Killed?
3
Economics Vocab
4
https://www.youtube.com/watch?v=Np- dZSdzymk
5
Scarcity Unlimited Wants- Things that people desire Limited Resources- There is not enough to give everyone everything Scarcity- when wants exceed resources
6
Opportunity Cost The cost of an alternative that must be forgone in order to pursue a certain action. https://www.youtube.com/watch?v=0BAMv6l V2t4
7
Supply and Demand the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price. https://www.youtube.com/watch?v=yIgehmLz u7o
8
Types of resources Human Resources- Skills that people have and the labor they perform. Natural Resources- Resources acquired from the earth. Capital Resources- Things that make work easier such as equipment, inventory and factory, that are man-made
9
https://www.youtube.com/watch?v=qY- LZlnxjo8
10
Good vs Service A good is something that you can use or consume, like food or CDs or books or a car or clothes. You buy a good with the idea that you will use it, either just once or over and over again. A service is something that someone does for you, like give you a haircut or fix you dinner or even teach you social studies. You don't really get something solid, like a book or a CD, but you do get something that you need.
11
https://www.youtube.com/watch?v=pL15YTrjl o8
12
Barter vs. Money Barter is a system of exchange by which goods or services are directly exchanged for other goods or services without using a medium of exchange, such as money. https://www.youtube.com/watch?v=J7hNOt2 Y0J8
Similar presentations
© 2024 SlidePlayer.com. Inc.
All rights reserved.