Mater Academy/ Dual Enrollment / ECO 1000
Unit 1: Introduction to Economics
Assignment #5
Topics: Opportunity Cost and Choices. Factor of Production


“Choices Are Everywhere: Why Can’t We Just Have It All? / Economics Newsletter
“Investigating in Yourself: An Economic Approach to Education Decisions” / Economics Newsletter
Basic Economic Concepts
 Opportunity Cost
 Scarcity
 Government Debt
 Factor of production
 Investment in human capital
 Profit
Objectives
 Understanding of scarcity and opportunity cost to make good economic decisions
 Making economic decisions
Textbooks

McConnell, Campbell; Brue, Stanley; and Flynn, Sean. “Economics, Principles, Problems, and Policies”. 18th
Edition, New York, 2009. , Chapters 1, pages 3-28
Class Materials / Articles
1. “Choices Are Everywhere: Why Can’t We Just Have It All? / Economics Newsletter.
2. “Investigating in Yourself: An Economic Approach to Education Decisions” / Economics Newsletter
Online Resources
 http://glencoe.mheducation.com/sites/0025694212/student_view0/index.html
 http://www.stlouisfed.org/education_resources/page-one-economics-classroom-edition/
 https://www.khanacademy.org/economics-finance-domain/microeconomics
General Instructions
Working in Group, student will be able to:
o Read the given article, then answer questions.
o Explain your answer fully.