Heading:
Unit 1 due by January 27
I can list five things which would
create scarcity.
I can list the factors of
production.
I can create and explain a PPC.
I can explain a mixed market
system and why the US is a
mixed market system.
I can explain the logic behind
the invisible hand.
I can explain opportunity cost
and give two examples.
I can explain a market,
command and mixed market
system.
I can explain why property rights
are critical to capitalism.
I can explain the relationship
between scarcity and
opportunity cost.
I can give three examples of
each factor of production.
I can explain entrepreneurship.
I can explain consumer
sovereignty.
I can explain an incentive and
give two examples.
I can evaluate and explain the
economic implications of a
current event (i.e., newspaper
article).
I can explain how the factors of
production are used in making
goods and services.
I can explain and give examples
of an intermediate and a final
good.