SSEF1 Explain why limited productive resources and unlimited wants result in scarcity, opportunity costs, and tradeoffs for individuals, businesses, and governments. Opening: Work session: Supply and demand: Crash Course Economics #4: So, economics is basically about choices. We'll look at some of the broadest economic choices when we talk about the difference between planned economies and market economies. We'll get into communism, socialism, command economies, and capitalism. We'll look at how countries choose the kind of system they're going to use (spoiler alert: many end up with mixed economies). We'll also look into how individuals make economic choices. | KEY TERMS:
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Closing
- Review study guides and have at least 5% more of your Edgenuity coursework completed by 8/20/2021. That means by Friday 8/20/2021 at least 15% of your coursework should be completed.
- No Zoom Meeting tomorrow (Friday 8/20/2021), use the time to complete your assignments.