Intro to Economics Smartboard Lesson

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Choice and Scarcity •Choices must be made given our limited resources among alternatives. •Since resources are limited in supply and fully employed, any increase in the production of one product will require resources to be shifted away from the production of another product.
Economics Defined: • Economics is the study of how society distributes its limited resources given its unlimited needs and wants.
Page 1 and 2: Introduction to Economics BR1 Mr. R
Page 3 and 4: Agenda •Textbook distribution •
Page 5 and 6: Question: •Same list: how much of
Page 7 and 8: Consumers obtain/use various goods
Page 9 and 10: Satisfaction-Rolling Stones
Page 11 and 12: Here’s the Problem! •Society ha
Page 13 and 14: ..this results in Scarcity!!!!!
Page 15 and 16: …making choices have costs!
Page 17 and 18: Opportunity Cost (what is given up,
Page 19: Economic Choice • Economists assu
Page 23 and 24: Exit Card • This is an example of
Page 25 and 26: Positive vs. Normative Statements P
Page 27 and 28: Factors of Production: Societies Li
Page 29 and 30: Glossary: Let’s Begin! Title a ne
Page 31 and 32: Economic Systems • The three econ
Page 33 and 34: Economic Systems • Most countries
Page 35 and 36: Gallery Walk •Instructions: •Yo
Page 37 and 38: Complementary and Conflicting Econo
Page 39 and 40: The Production Possibilities Curve
Page 41 and 42: The Law of Increasing Costs Product
Page 43: The Founder of Modern Economics •

Intro to Economics Smartboard Lesson

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