1. Warm up 2/4/13 p.23 1.producer, product, market, and consumer. Define each term and give examples. 2. What role do you think you play in the Nation’s economy? 3. Using figure 2.1 page 24, what is the opportunity cost of mechanical equipment in farming wheat?

2. Warm up 2/5/13 p.23-27 1.What is one of the key economic questions all societies have to answer? 2.What is economic efficiency? 3.What is economic freedom?

3. Warm up 2/6/13 p. 28-32 1.What is a household? 2.What is a product market? 3.What is a factor market?

4. Warm up 2/7/13 p.34-38 1.What is communism? 2.What is socialism? 3.What is authoritarian?

5. Warm up 2/8/13 p. 40-44 1.What does laissez faire mean? 2.What is private property? 3.What is a continuum?