Intro to Economics Smartboard Lesson

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Shifts in Production Possibilities How can this economy gain more automobiles and banana’s? Production Possibilities Curve Bananas 2000 Through improved technology or better education this economy can gain more of both goods (represented by a shift of the PPC outward and to the right). 0 3 Automobiles
The Founder of Modern Economics • Adam Smith: ◦Explained how specialization of labour increases production ◦laissez faire (leave it alone), argued that government should not intervene in economic activity ◦The “invisible” hand lead by self interest will result in economic gain and efficiency in markets
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 and 20: Economic Choice • Economists assu
Page 21 and 22: Economics Defined: • Economics is
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: The Law of Increasing Costs Product

Intro to Economics Smartboard Lesson

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