Wednesday, May 17, 2017

Timelinks G5 The American Economy page 10 -11

It is very important for people nowadays to understand the economy.  Many schools skip over this important subject and jump into teaching names and dates of history, or the part of grammar, But if more people understood economy then they would be able to work more efficiently.

This unit is about the American economy and how it changed.

Key Terms
GDP
Goods and Service,
Supply
Demand
cost-benefit decision
opportunity cost


Questions:
What was the basis of the American economy in the 1700's.
Why did it change?
What is the GDP?
Why is a Free Market important?
What is a good?
What is a service?

Homework:

How is the economy structured in your country? What decisions do you make about which goods and services to buy?  What are your opportunity costs? Write about how you made a decision to buy a "big ticket item" like a car or a property.  What steps did you think about?





Post sponsored by:  The Jerusalem Magic Candy Shop

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