AIM: Economic Principle #7 Future Consequences Count DO NOW: Using your notes and your text book create a list of words that you think are the most important vocabulary words you have, thus far, learned in Economics. Future Consequences Count • Land here is cheap. • Nice scenery • On the side of the only road that leads to Bigg City, so all traffic must take this road. **** Does not think of the future ! ! ! Future Consequences Count • Asks: Will the old road always be busy? • Learns that a new highway is planned - 2 years - takes all old road’s traffic !! Future Consequences Count Sometimes, however their can be the law of unintended consequences. - The actions of governments and people sometimes have results that are not expected The area right off the highway grows quickly. Unexpectedly, The restaurant has no way to expand at its present location. 1. Go to page 11 in your text book. 2. Look over the map, pictures and captions on this page. 3. On a fresh piece of paper, give a brief description of how each of the Seven Economic Principles come into play on your trip. This will be collected at the end of class.