Students will be able to identify the basic economic policies of the United States.
Content Complexity: Level 2/Skills and Concepts
Review the concepts of supply and demand, choice, scarcity, and opportunity cost as they relate to the development of the mixed market economy in the United States.
Task 1: Economy Activities
1) With you partner, download and read the file to the right titled "Economy READING" and answer the questions below the file.
2) Go through the "Practice scenarios" to the right to gauge your understanding and see how you would fare in economic situations. Note your answers on a blank sheet of paper with BOTH of your names :)
Task 2: Economies around the world
Use an internet search to find information on the following questions:
1. What are some ways to measure the health of a country's economy?
2. What does "GDP" mean?
3. What are the top economies in the world today?
4. What are some possible reasons why some country's might have a stronger economy than others?
Task 3: The People's Pie
Do you like to control your own money? In People’s Pie, you control the budget of the federal government! You choose how federal revenues should be raised and how taxpayers’ money should be spent. You must decide how to fund programs that are important to you, without setting taxes too high or borrowing too much money.
On the iPads - don't forget to use Photon and enable FLASH!