Social Studies Economics - Bayport-Blue Point School District

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a t S r fiGURE2.1 ThECONCEPT OFANECONOMIC SYSTEM fiGURE22 ECONOMIC CIRCULAR FL MODEL C OVERHEAD21
SCARCITY AND OPPORTUNITYCOST Reviewof Concepts Somepeople want to raise the speedlimit on our nation’shighwaysso that motoristscanspend less time travelingfromplace to place and more timedoingotherthings. Otherswantto reducethe speedlimitbecausetheybelievetheadditionaltime spentdrivingat the lowerspeedwillreducehigh wayinjuriesandfatalities. This controversyillustratesscarcity, whichis the basicprincipleof economics: scarcityis the Thabilityof limited meansto satisfyall of every one’swants. The scarcityof time requiresus to choose between spendingmore time driving at slowerspeedsto reduceaccidentsand drivingat faster speedsto have more time for other activi ties. Similarly,the scarcityof yourtime requires youto choosebetweenvisitingfriendsanddoing homework,and the scarcityof your income re quiresyouto chooseamongmanypossibleitems youcouldbuywithyourmoney. Scarcityforcesyouto chooseamongalternative uses of your time and money. Wheneveryou makea choice,therefore,yousacrificesomething else you could have obtainedby spendingyour timeor moneydifferently. Thes.I opportunity yougiveup whenyoumake a choiceis yourop. • portunity cost. For example, suppose by spending$5 on gasoline you give up a $5hair brush,a$5 cassette,or a $5 lunch. Becauseeach of thesealternativescosts$5, youcouldnothave purchasedall three withthe $5 you spenton gas. As a result,youropportunitycostis notallthreeof theseproducts;it is whicheverof the threesacri ficedalternativesis mostimportanto you. Becauseof scarcity,youmakechoicesandbear opportunitycosts.Allindividualschooseandbear costsbecauseno nationhas enoughresources to I satisfyallof its citizens’wants. Resourcesarethe basic ingredientsused to producewhat we want. They are land, labor, capital and management. Machines,tools,andbuildingsare a nation’scapi tal, andmanagementis the abilityto organizethe otherthreeresources. No matterhow wealthyor poorindividualsandnationsmightbe, allindivid ualsmakechoicesandpay costsbecausescarcity stillexists. Even an unselfishpersontryingonly to satisfy others’wants would discover that re sourcesare insufficientto meet all of everyone’s wants. Because scarcity is everywhere,people must choosecarefullyif theyareto use theirlimitedre sourcesto satisfytheirmostimportantwants. Ec onomics examinesthesechoicesbecauseit stud ies how scarce resources are allocated among alternative uses. When examining individuals’ choices,however,economicsemphasizesthink ing at the margin. Thewordmarginrefersto a
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Page 17 and 18: Page 10 920 LAVI Famous Industriali
Page 19 and 20: INTRODUCTION This course is designe
Page 21 and 22: Economics — Marking Period Term P
Page 23 and 24: Economics Report Directions : Selec
Page 25 and 26: . INTRODUCTION TO ECONOMICS AND ECO
Page 27 and 28: BASIC STUDENT ATTITUDE OBJECTIVES P
Page 29 and 30: S 1. Why (A) (B) All Study Economic
Page 31 and 32: I (G) Responsiveness of quantity de
Page 33 and 34: Page 21 5. Examine the lists you ma
Page 35 and 36: Page 23 13. List some of your favor
Page 37 and 38: Page 19. Go to the library and look
Page 39 and 40: Page 27 era. A barber provides a se
Page 41 and 42: Page 29 33. Consider your occupatio
Page 43 and 44: INDEPENDENTPRACTICEWORKSHEET CHAPTE
Page 45 and 46: 4 $ I 4 Figure1-1:PRODUCTION POSSIB
Page 47: 4 * = E I LEARNING ECONOMICS Name S
Page 51 and 52: Name ______________________________
Page 53 and 54: Name, WORKSHEET3 MEASURINGDIMINISHI
Page 55 and 56: C. UsingTransparencyI ACTIVITY1.1 H
Page 59 and 60: a SKILLSWORKSHEET CHAPTER6 The tabl
Page 61 and 62: Basic Grid 7n JLISIat*I OnL, twodag
Page 63 and 64: Demand Curve DM e ‘ .. Explanatio
Page 65 and 66: Demand VariationsIn Demand I S $6 5
Page 67 and 68: ‘of Supply Elasticity of Supply
Page 69 and 70: Supply and Demand Schedule for 1-sh
Page 71 and 72: Distribution of FamilyIncome by Inc
Page 73 and 74: V I. FRE ENTERPRISE WORKSHEET SUPPL
Page 75 and 76: 4 I I I I S S S Name LEARNING ECONO
Page 77 and 78: Name 1 Handout13 2 HOW MUCH GUNKSHO
Page 79 and 80: IT. I college.The tradeoffsinvolved
Page 81 and 82: I- INDEPENDENTPRACTICEWORKSHEET CHA
Page 87 and 88: 4 ENRICHMENT WORKSHEET In the Sovie
Page 89 and 90: NameandClass Handout3-1 TYPESOFECON
Page 91 and 92: • Handout3-3 WHAT,HOW, AND FORWHO
Page 93 and 94: • Handout3-4 THEMARKETECONOMYASAN
Page 95 and 96: 4 Handout3-5 THECOREOF THECOMMANDEC
Page 97 and 98: 4 r INDEPENDENTPRACTICEWORKSHEET CH
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I Number of Workers INDEPENDENTPRAC
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[Name INDEPENDENTPRACTICEWORKSHEET
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INDEPENDENTPRACTICEWORKSHEET CHAPTE
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a padre who started of f round the
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Credit etered into many transaction
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obvious to all, and the convenience
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Activity I — BackgroundQuestions
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OPPORTUNITYCOSTS Economics isthestu
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SELFINTEREST NYOu thinkyouarehelpin
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SUPPLYANDDEMAND Theforcesofsupplyan
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Activity I — BackroundQuestions E
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QUESTIONBANK UNITI Baseyouranswerst
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(9) WhenConjnunist Chinabuildsa can
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(21) Whena nation’shumanandmateri
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(33)Whichis themostvalidstatementco
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*(46)WhichIsthemostfundamental econ
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MATCHING Matcheachdefinition with t
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II. Microeconomics — Consumer, Bu
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Knowledge OBJ Page 53 (1) The role
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Page 55 (39) Comparison of farm inc
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(C) Role of profit (1) As an indivi
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Page 59 (B) Why gov’ts. provide c
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Page 61 a larger multiplier be good
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Page 63 (Examples: If the club pays
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Page 65 spent, as well as the cost
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Page 67 (22) To learn about product
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Page 69 protection, aid to the elde
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Page 71 (35) Assume that you have i
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Page 73 (41) Get a copy of the book
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Page 75 (49) Study a particular cap
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Page 77 What are the terms of the l
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Page 79 weak in your area? How impo
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YOUTHECONSUMER WORKSHEET Name Class
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Lesson 1: ConsumerMarketplaceDecisi
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Handout1-1 CASE’STUDY: TRANSPORTA
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SKILLSWORKSHEET CHAPTER10 Name Clas
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Teacher’sCopyof Handout2 COMPARIS
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Lesson3: To Paint or Not to Paint T
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418 The mechanisationof mankind Tod
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420 drive a car, therefore, you are
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Figure3-1:CONSUMER SPENDING INARECE
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YOUTHECONSUMER WORKSHEET BUYINGSTOC
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SELLING ASSETS FRE ENTERPRISE WORKS
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Figure9•2:STRUCTURE OFATYPiCAL. C
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ENRICHMENTWORKSHEET CHAPTER8 Name__
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confront.SouthDakota is consistentl
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I - . .T- I 1 z-U”i 110WDO MY BEN
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Nonefor“reasonableandcustomary”
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Figure16 2: CLEARING ACHECK JoséRo
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AUTOMATION Name YOUTHECONSUMER WORK
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Handout4-1A THE STORYOF THE BIG WAV
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Handout4-lA (continued) otiationsev
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Handout4-lA (concluded) heputit,an
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1 I help.Includingthekids. This faW
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HARD TIMESAMIDPLENT Today.onlyabout
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NAME____________________________ DA
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• • .•.. - - — The Brotherh
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DATE_________ CLASS_____ SCORE_____
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The Dreyfus Worldof Finance Puzzle
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NAME_____________________________ D
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Lesson 7: Producer’sChoice—Wher
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Lesson8:.Mass Markets, Advertising,
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Handout8-1 CASESTUDY:THEFORDEXPERIE
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1-landout 8-3 QUESTIONSTO ACCOMPANY
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d Jobtraining for the unemployed: S
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Handout3-1B WHEREDO YOU STAND? Name
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the quality of life for all residen
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OUR ECONOMICSYSTEM Handout32B PRIVA
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. I. 1F:’ 11 ReadingtheFinancial
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I - ___ The Dreyfus World of Financ
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(6) Businessfirmswishto selltheirpr
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(20)In the U.S.,governmenthas grant
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*(32)ThemainreasonwhyAmericanfarmer
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*(46)Ifpractically allourworkershav
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MATCHING 1) A certificate represent
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5) Laborunionmembershiphasdeclinedi
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Knowledge OBJ Page 31 (1) Understan
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(40) (41) (42) (43) (44) (45) (46)
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Unit III— General Projects Page 3
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Page 37 Messner, 1974) was written
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Page 39 by Ralph C. Bryant (Washing
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Page 41 (27) Imagine that your own
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Page 43 labor leaders. Do their vie
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Page 45. sides, and then draw your
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Page 47 using local newspapers for
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Page 49 give your own position on w
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VI. Economic Growth is a National P
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L I. I I IJAIA DATE_________CLASS__
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Name OVERVIEW The 1930sweremarkedby
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Handout15.1(continued) w wellhasthe
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Figure13.1:EMPLOYMENT STATUS OFUNIT
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4 POPULATIONBELOWTHEPOVERTY LEVEL (
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NAME_____________________________ D
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$ Figure12-2:CHANNELS OFDISTRIBUTIO
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Section 2. EFFECTS OF INFLATION Nam
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Economists differabouthemostimporta
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Handout4-5 (continued) Name Class__
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4 I EXTENSIONACTIVITY 7 TheHistoryo
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184 Id IIisI4s, 5 (If (.‘nspuui l
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• ,%ri!ul. ’tl.r 11/ (on.pini v
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SKILLSWORKSHEET CHAPTER5 Name _____
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I Investment andInvestors SOLVINGA
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90 80 170 60 50 What does Graph I s
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t d 10 . ScholaiticUPDATE - - - HIS
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12. ScbolasticUPDATE depression was
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(7) TheSpeculativeBoom(continued) S
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(9)TheUnderlyingCauses... (continue
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Cycles Inthe United States thSIdIIS
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4 S S S C U E I Name Section 3. PHA
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4 I C Name Section 2. THE FUNCTIONS
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‘ ___________ INDEPENDENT PRACTIC
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READING Principles of Taxation by J
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GOVERNMENT EXPENDITURES TAXES 1. Lo
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AN INTERVIEW WITH GEORGE BORTS I EL
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d The LafferCurve As Arthur Laffer
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The LafferCurve the Laifer curve’
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today.and ... It isactuauymischievo
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3 Section 3. THE BUDGET Name Class
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I I C U I E Section 5. THE NATIONAL
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14.3 percent in 1986 to 15.3 percen
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4 matic cuts rather than compromise
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4 I I g INTERPRETINGINFORMATION Nam
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• Section 5. MONETARYPOLICY Name
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FIGURE11.2TAXGRESSIVITY .4 -3 High
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Name Section 1. WOMEN IN THE WORK F
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Name Section 3. FISCALPOLICYAND STA
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i READING Free to Choose Education
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I Handout6-2 WHEREWILLYOUCUTTHEBUDG
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BUSINESS / A LessoninEconomicLife I
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Bythe1950sandI960stheseideashad tak
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a .TF Ti U11 Nation TheQuarterback
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I p t I. iThe Balanced-Budget Amend
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pletelydifferent. Manyof the expend
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CopingwithStagflation:(6) TheFordPl
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7 Healthand Police $21.3 •Figure1
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• TaxCuts: HowMuchIs Enough? 8/10
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4 . TYPESOF MONEY FRE ENTERPRISE WO
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0 I Figure15-2:GROWTH IN THEMONEYSU
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Name 1. In which Federal ReserveDis
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FRE ENTERPRISE WORKSHEET TOOLSOF TH
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Figure161:ORGANIZATION OFTHEFEDERAL
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Sani TheFederReserve System * Ioad
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ENRICHMENTWORKSHEET CHAPTER12 Name_
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INDEPENDENTPRACTICEWORKSHEET ______
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Source:Commerce Department and TheN
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A, CHAPTER REVIEW. ‘ WORKSHEET Na
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Figure6-1: NEW.HOUSINGSTARTS, 1965-
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_________________ SKILLS WORKSHEET
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Rgure14-4:A MODELOFTHEBUSINESS CYCL
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1 ‘1 g 1 I DATABANK •UPDATE.Sel
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“.‘ lawc.: U.io. Ii 5.Uas.kmid
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READING Estimating GNP by EdwardMea
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Handout14-1 tame Class ____________
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GROSSNATIONALPRODUCT Activity Ill
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WHEREFOREIGNAID $$ GO $20.3billion
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FAL E,dY kev’ bk) Tk FW RAL RES V
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StudentHandout1 PROBLEMSHEET—WHAT
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DEPRESSION & NEW DEAL 1 Louisiana
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TIMEEDUCATIONPROGRAM ESTUI)}NFACTJI
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TIMEEDUCATIONPROGRAM (STU)E\T ACTIV
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1 1919 1920 1q21 1922 1923 124 1i25
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Handout14-3(concluded) ‘ 0, 2100
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Handout 14-4(concluded) 2100 2050 2
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GROSSNATIONALPRODUCT WhentheGreatDe
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(6) Theconinercial bankingsystemcre
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(19)Thosewhobelievethatpeopleshould
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(31)WhenCongressauthorizes a reduct
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*(44)Those whobelievethatpeopleshou
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*(58)TheFederalReserveSystemdirectl
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1) thepatternof growthor decline In
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UNIT iii- Essay Test Questions 1. G
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IV. United States and the World Eco
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Unit Fo — The U.S. and the World
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Unit IV — Project Ideas Page 84 (
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Page 86 Do any of the businesses re
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3 Innovation’ tPOl TIrCONOMiCs :,
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MARCH15, 1985. 7 - ‘!: SPECIAL RE
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Handout15-2 ISA SAFERLAWNMOWERWORTH
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approximately$40,or 32 percent,to t
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Handout3-4B GOVERNMENTREGULATION [I
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Handout34D GOVERNMENTREGULATION inl
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HANDOUT3-4F Name Class_____________
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HANDOUT 3-4G Name Class____________
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creates inefficiencies that hinder
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Section 1. WHY NATIONS TRADE Name C
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C Section 2. EXCHANGE RATES Name Cl
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Lesson 11: Protectionism in Foreign
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Handout11-1 STEELMANUFACTURERS (GRO
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Handout11-3 RICEGROWERS(GROUPIII) N
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Figure16.1 HypotheticalCost/OutputR
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__________________ [Name WORKSHEET1
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FREETRADEOR PROTECTIONISM Name Clas
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____________ INDEPENDENTPRACTICEWOR
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50%of thepeopleansweringa LouisHar
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ment money, recoveredquickly.and th
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, thefinalresult is moreiobs. I re
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ut many others have taken evenmore
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Lesson 13: United States and Intern
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KatySavageof the U.S.Commerce Depar
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(! :Ii Thinkfora moment. Howmanytim
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eyeexercisesand meditate. On the da
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Directions: Read the article “Can
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Figure17.2 Exportsand Importsas a P
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for each category of developing cou
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suits of this methodaccording to pe
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Handout8-2 THE SEMANTICSOF “DEVEL
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QuestIonson Handout8-3A Handout8-3B
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Handout8-5 PerCapitaIncomeinU.S.Dol
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Handout8-7 Table8-7A. Labor ForcePa
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growth.Most,however,do havesuchreso
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States,and,morerecently,theSovietUn
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knowthat most developingnationsare
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healthservices,roads,airfields,ener
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Name Class Date FUNDINGECONOMICGROW
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Handout 9-1 ComparativeStandardof L
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Handout9-3 THEEVOLUTIONOF THESOVIET
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Handout9-3 (continued) DuringtheSix
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TheTenthFive-YearPlan,1976—i980 I
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Name Class Date Section 1. CHARACTE
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Name Section 2. SOCIALIST THEORY VE
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Name. Class Date Section 4. THECONV
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ENRICHMENTWORKSHEET CHAPTER17 Name
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___________________ SKILLSWORKSHEET
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Figure20-2:UNITEDSTATES BALANCE OFT
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Dute Collected a PercefitageDutiabl
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Billions ofDollars 2,500 2,000 1,50
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PROJECTIN ECONOMICS UNIT4 Name_____
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PROJECTIN ECONOMICS UNIT4 Name ____
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C Name Class Date OPEC: ANINTERNATI
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( CHINA’SBOLDREFORMS Name r Ctass
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( Ajinualchange A%era8eAnnualPerten
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P. 197Figure 8—4 DISTRIBUTIONOF M
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( P.218,Figure 9.3 BIWEEKLY PAYCHEC
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( P. 244 Figure 10-2 THE CHANGING P
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Corporate1ncom Ta Exds Taxes Other
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aris’l. The steep dccli iw reIk i
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STATE NE%. N.H NJ. N.M. N.Y. NC. N.
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( Annual Change AverageAnnual Perce
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P. 197 Figure 8—4 DISTRiBUTION OF
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( P 218, FIgure 9-3 BIWEEKLYPAYCHEC
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( P. 244, FIgure 10—2 THE CHANGIN
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CorporateIncomc Tax RECEIPTS EXPEND
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vlit’,i th ii I) lI inenibtis in
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( barrel. The sleep decline rdle
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• .1 No.6 Thisisthesecondoftwoiss
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thepoundsdelivered.Thedifferencebe
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I WhatWe:, •‘ BuyandSell • e
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QUESTIONBANK UNITIV U.S.andtheWorld
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(13)Whichstatementconcerningproduct
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industries suchas farmsandshoefacto
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*(37)Whfch Isan advantageof livingi
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1) anytaxon Imports 2) an unfavorab
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*9) 0Standardof Living”can be def
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14) Thegraphsbelowshowsocioeconomic
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*1 16. Chernenko wasa Sovietleaderw
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MULTIPLECHOICE UNITIIITESTBANKANSWE
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Questions1-4arebasedon thefollowing
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10) Anothernamefora coninand econom
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22) Thepointat whichproducersupplya
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36) AneasymoneypolicywouldresultIft
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47) WhIchisa partofsupply-side econ
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ESSAYS Selec threeof thefollowinges
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Economics — Review for Final Exam
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ISt4b Economics Final Exam June, 19
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Economics Final Exam — June, 1989
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Economics Final Exam June, 1989 Pag
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Economic -‘Regents NAME:F JA1. EX
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Economics — 11 Regents Page 3 . 1
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Economics — 11 Regents Page 5 33.
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Economics — 11 Regents Page 7 47.
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Economics — 11 Regents Page 9 Ans
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Economics — 1].Regents I.. Page 1
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ESSAY 5.’ COMPARATIVECONOMIES: TH
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NAME:_____________________ Page 2 M
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Economics B Page 4 15. If the price
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Economics B Page 6 . 26 A surplus o
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Economics B Page 8 39. Employers in
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Economics B Page 10 _52. When two p
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eco.44&c3- ia .Fss*.. EXA’1 PMTX
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17. I lott much a orkcr e.Iri is de
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33. Onepossiblecauseof inflationist
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Unit Test — Economics — Chapter
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Economics — Chapters 1—2—4 Pa
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Test: Chapter — Business and Labo
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Test: Chapter — Business and Labo
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Test: Chapter 7 — Business and La
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Social Studies Economics - Bayport-Blue Point School District

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