Friday 9 2 tuesday 9 6
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Friday 9/2 & Tuesday 9/6 PowerPoint PPT Presentation


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Friday 9/2 & Tuesday 9/6. Opening Act Open your binders (everyone) to your Unit I “Running in Place” Know List Review the information with your neighbor Begin discussing and working on a possible Driving Question: How can we, as Holden’s Daughter (advisors)…..? Agenda is on the next page.

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Friday 9/2 & Tuesday 9/6

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Friday 9 2 tuesday 9 6

Friday 9/2 & Tuesday 9/6

Opening Act

  • Open your binders (everyone) to your Unit I “Running in Place” Know List

    • Review the information with your neighbor

    • Begin discussing and working on a possible Driving Question:

      • How can we, as Holden’s Daughter (advisors)…..?

        Agenda is on the next page

Chapter 1

Section

Main Menu


Agenda

Agenda:

  • Review Know List (KL)

  • Driving Question (DQ)

  • initial Need to Know List (NTKL)

  • Start viewing Video Interview Part One

    • Discuss & possibly revise KL & NTKL

  • Possibly Start Operation of Market Economies Notes: Part 1

  • Assignment: BRING YOUR TEXTBOOKS NEXT CLASS, THERE WILL BE HW TO START

  • Chapter 1

    Section

    Main Menu


    Operation of market economies part i

    Operation of Market Economies Part I

    • What are markets & why do they exist?

      • A market is an arrangement that allows buyers and sellers to exchange goods and services.

      • Markets exist because none of us produces all the goods and services we require to satisfy our needs and wants.

    Chapter 1

    Section

    Main Menu


    Operation of market economies part i1

    Operation of Market Economies Part I

    • Components of Markets

      • 2 Basic Components

      • Households-consumers

      • Firms-producers and businesses

    Chapter 1

    Section

    Main Menu


    Operation of market economies part i2

    Operation of Market Economies Part I

    • The Product Market

      • This is the market where Households give their money to Firms in exchange for goods and services.

        • Why do Households need to do this?

    Chapter 1

    Section

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    Operation of market economies part i3

    Operation of Market Economies Part I

    • Price

      • Prices play a big role in this market

      • It is in the Households’ self interest to pay the lowest price for goods and services.

    Chapter 1

    Section

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    Operation of market economies part i4

    Operation of Market Economies Part I

    • It is in the Firms self interest to sell at the highest price possible.

    • Both sides are motivated by Self Interest

    • Both sides react to prices

    Chapter 1

    Section

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    Operation of market economies part i5

    Operation of Market Economies Part I

    • Households compete against each other in supplying their resources

    • Firms compete against each other in selling their goods and services

    • In addition, both sides compete against each other

    Chapter 1

    Section

    Main Menu


    Operation of market economies part i6

    Operation of Market Economies Part I

    • Any questions about Product Markets?

    • Later we will see how firms create goods and services?

    • Anyone looking for further information and clarification should review Chapter 2, Section 2 “The Free Market” pgs, 28-33

    Chapter 1

    Section

    Main Menu


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