Monday and Wednesday, July 13 & 15, 2020: Day 17 & 19

Please complete assignments 1&2 before July 14, 2020 when class meets.
Book: O'Sullivan and Sheffrin. Economics: Principles in Action. Prentice Hall

1. Chapter 8 Assessment: Business Organizations p. 206-207 Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
2. Chapter 9 Assessment: Labor p. 236-237 Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
3. Chapter 10 Assessment: Money and Banking p. 266-267  Key Terms, Using Graphic Organizers, Reviewing Main Ideas, Critical Thinking, Problem-Solving Activity, Skills for Life.
4. Case Studies: Business and Ethics p. 205, Americans Improve Their Working Conditions p. 235, Big Banks and Small p. 265

Study Guide

1. need/want
2. Economics
3. goods/services
4. scarcity
5. factors of Production: Land, Labor, Capital
6. Entrepreneur
7. Guns or Butter/ Trade-Offs
8. Opportunity Cost
9. Production of Possibilities Frontier
10. Standard of Living
11. Market/ Command/Mixed Economies
12. specialization
13. profit
14. Self-interest
15. competition
16. Invisible Hand
17. profit motive
18. voluntary exchange
19. macro/micro economics
20. GDP
21. business cycle
22. externality
23. Demand- Law, schedule, curve, why it shifts
24. Supply- Law, schedule, curve, why it shifts
25. Price- Equilibrium, excess/shortage, ceiling/floor
26. Fixed, Variable, Total, Marginal cost
27. Perfect Competition v. Monopolistic Competitions and Oligopoly