Unit # 01
Introduction to Economics

Section 1
Thinking Like an Economist: Scarcity and Economic Reasoning

Students will understand that productive resources are limited; therefore, people, institutions and governments cannot have all the goods and services they want. As a result, people, institutions and governments must choose some things and give up others.

 

Concept Textbook Pages Internet Options
Vocabulary
words: scarcity, trade-offs, opportunity cost, incentive, factors of production, entrepreneur, economic system, traditional, command, market, three key economic questions
Chapter 1 - 3 Quizlet - this is an online program that allows students to make flash cards.  You may select from any of the study and game options listed on the page.
Scarcity Pages 3 - 7 Slideshare - an online version of a PowerPoint

Video - an overview of scarcity (YouTube video)
Video - an overview of scarcity (Same as above but saved on
             Econ Central)
Opportunity Cost Pages 8 -12 Video - What is Opportunity Cost (YouTube video)
Video - What is Opportunity Cost (Same as above but saved on
             Econ Central)

Video - Opportunity Cost (YouTube video)
Video - Opportunity Cost (Same as above but saved on Econ Central)
 

Production Possibilities Frontier Pages 13 - 18 Video-  Production Possibilities Frontier (Khan Academy)
Video - Production Possibilities Frontier (Same as above but saved on
             Econ Central)

Video - Increasing Opportunity Cost on a PPF (Khan Academy)
Video - Increasing Opportunity Cost on a PPF (Same as above but
             saved on Econ Central)

Introduction to Economic Systems Pages 23 - 28 Slideshare - an online version of PowerPoint

Video - Introduction to Economic Systems (YouTube video)
Video - Introduction to Economic Systems (Same as above but saved on
             Econ Central)

Video - A short overview of Economic Systems (YouTube video)
Video - A short overview of Economic Systems (Same as above but
             saved on Econ Central)

Circular Flow Pages 30 - 31 Video - Circular Flow (On Econ Central)
The Three Key Economic Questions Pages 23 - 25 The Social Studies Help Center
The Market Economic System Pages 29 - 32, 49 -68 Video - Command vs. Market Economies (YouTube video)
Video - Command vs. Market (Same as above but saved on
             Econ Central)

Quizzes

Quiz # 02
Quiz # 03
Quiz # 04