Integrated Social Studies Sullivan

Monday, February 25, 2013

Law of Supply

Greetings! Today you did a great job graphing the demand curve for important news headlines. Tomorrow we will be shifting our focus from Demand to Supply.

What factors affect a shift in Supply?

Check out the link below from you tube. See if you can find something from this video that you can use in class.

http://www.youtube.com/watch?v=3xCzhdVtdMI

Tuesday, February 19, 2013

Demand and Supply

What are demand and supply, and what factors influence them?

Demand refers to_____________________________________________________?

Supply represents____________________________________________________?

The supply schedule is a table that shows the relationship between the price of the good and the quantity supplied.

The demand schedule is a table
that shows the relationship
between the price of the good
and the quantity demanded.

With that being said, answer the following.

If the price of leather sandals were to rise, consumers might decide they don't need them after all if a cheaper substitute is available. This would cause the quanity of leather sandals demanded to __________________.

Monday, January 28, 2013

Economic Systems

At the end of this unit you will be able to do the following.

I can identify the factors and economic goals that influence decisions about the production and consumption of goods.

I can compare and contrast the role of government in command and market economies.

I can compare the advantages and disadvantages for consumers and producers in command and market economies.

I can identify and explain the features of the American Free Enterprise System.

So, what type of Economic System do we have here is America?

Who or what decides what you get?

Tuesday, January 22, 2013

Making Sound Economic Choices

Is College the right choice for you?

Analyzing the Costs and Benefits of going to college is sometimes frustrating. You probably know many of the benefits of leaving home to become a full-time college student. But have you analyzed the costs as well?

Using this table as well as adding any other that you might think of I want you to calculate the Costs and Benefits of going to college and share out in class.

* Assign each cost and benefit a score of 1-(not very important) to a 5 -(extremely important) for each cost section

* Add your scores in both columns.

* What conclusions can you draw by comparing the results?

Costs and Benefits of Going to College

Cost	Score	Benefit	Score
Cost of tuition, books, room and board, and travel to school		Greater lifetime earning with a college degree
Earnings lost buy not joining the work-force full time after high school		Better job opportunities once college is completed
Lost opportunity for on-the-job training and the development of workplace skills		More opportunity to develop thinking, writing, and professional skills
Less time to pursue nonacademic interests and hobbies		More time to pursue academic interests
Less opportunity to spend time with old friends from high schools		More opportunity to make new friends from different places
Less time for spending with family at home		More opportunity to make family proud.

Monday, January 14, 2013

Economic Choice-What choices are you making

As we continue to discuss economic choices I hope that you are taking notes as to how this not only applies to you now but in the future.

Scarcity!

Opportunity Cost!

What do those words mean to you? Look at the Organizer below. Why are things scarce?