1 / 16

The American Economy

The American Economy. Chapter 19. pgs. 516-519 19.1Economic Resources,. How does America’s economic system affect you ? Silent Reading, Summarizing &Note taking Main Ideas Facts Details Reasons. R.H.1 Cite evidence R.H.2 Determine central ideas R.H.3 Read and Comprehend

chas
Télécharger la présentation

The American Economy

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The American Economy Chapter 19

  2. pgs. 516-519 19.1Economic Resources,. How does America’s economic system affect you? • Silent Reading, Summarizing &Note taking • Main Ideas • Facts • Details • Reasons • R.H.1 • Cite evidence • R.H.2 • Determine central ideas • R.H.3 • Read and Comprehend • MI.7.E.2 • Analyze the influence improved factors of production have on productivity. Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

  3. 19.1Economic Resources, pgs. 516-519. • Under what factor of production would you classify oil deposits? • Natural Resources • Under what factor of production would you classify a diamond-cutting machine? • Capital • What is the difference between final goods and intermediate goods? • Final goods are what consumers purchase to use. Intermediate goods are supplies you need to produce the final product.

  4. Gross Domestic Product. Discussion Pair/Share How does the United States GDP compare to other countries? What would account for the difference? Why are Americans considered rich? Kagan Cooperative Learning, Kagan, Spencer, 2009, pg. 6.33

  5. 19.1Economic Resources, Goods and Services Pair/Share • Logical/Mathematical • What is a “factor” in a math equation? How can this information help you understand what an economic factor is? Kagan Cooperative Learning, Kagan, Spencer, 2009, pg. 6.33

  6. 19.1Economic Resources, Goods and ServicesAnswer these questions • What is a factor in Algebra? • What is a factor in Economics? • How are the two different? • How are the two alike?

  7. 19.2 Economic Activity, pgs. 520-525. • Focus Question • How does America’s economic system affect you? • Reading, Summarizing Note taking • Main Ideas • Facts • Details • Reasons • R.H.1 • Cite evidence • R.H.2 • Determine central ideas • R.H.3 • Read and Comprehend Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

  8. 19.2 Economic Activity. • Give an example of a factor market? • Farmers, Ranchers, Fisheries • Land owners, • Oil Companies, Electric Companies • Employment agency • Give an example of a product market? • Target, Sears, Dollar General • McDonald’s, Olive Garden, El SuperTaco

  9. 19.2 Economic Activity. • In the circular flow of economic activity, in what economic activity is the consumer involved? • Consumersearn income in the factor markets; • earn wages for labor, • land owners may rent their properties, • people who own financial capital (money) exchange it for interest. • Consumersspend their income in the product markets.

  10. 19.2 Economic Activity. • Why is productivity important to economic growth? • Resources are used efficiently to produce many goods and services. • The economy grows when businesses preserve scarce resources while maintaining high levels of productivity.

  11. 19.2 Economic Activity, Economic Sectors and Circular Flow Pair/Share • Analyzing Diagrams • Explain the meanings of the two inset charts (Factor Markets and Product Markets) on page 522? • Record your answer in your notes Kagan Cooperative Learning, Kagan, Spencer, 2009, pg. 6.33

  12. 19.2 Promoting Economic Growth Pair/Share • Making Inferences • Why does Specialization improve productivity? • Why does Division of Labor improve productivity? • Why does Human Capital improve productivity? • Why does Economic Interdependence improve productivity? Kagan Cooperative Learning, Kagan, Spencer, 2009, pg. 6.33

  13. 19.3 Capitalism & Free Enterprise, pgs. 527-531 • Focus Question • How does America’s economic system affect you? • Reading, Summarizing, Note taking • Main Ideas • Facts • Details • Reasons • R.H.1 • Cite evidence • R.H.2 • Determine central ideas • R.H.3 • Read and Comprehend Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

  14. 19.3 Capitalism & Free Enterprise • What is the difference between capitalism and free enterprise? • Capitalism speaks of our freedom to own and use the factors of production. (property) • Free Enterprise speaks of our freedom to compete in a system with minimumgovernmentinterference. • Which feature of capitalism is a right that is protected by the Fourth Amendment of the Constitution? • Private Property Rights • “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable search and seizures shall not be violated”

  15. 19.3 Capitalism & Free Enterprise • What are the benefits of competition? • Efficient production • Higher quality products • More satisfied customers • What is the role of government, according to laissez-faire economic philosophy? • The role of government in a laissez-faire economy is to ensure free competition in the marketplace. • According to Adam Smith, what are the results of individuals working for their own self-interest? • They would use resources efficiently to produce many goods and services.

  16. Pair/Share Create a T-Chart to track the rewards and risks involved in the system of capitalism. Risks Rewards Make mo money Be successful Profit Improve the well being Efficiency Keep costs low Losing money Failure Embarrassment Humiliation Poverty Kagan Cooperative Learning, Kagan, Spencer, 2009, pg. 6.33

More Related