Day 69 Agenda (Monday 12/07/15)

Mr. C's SMART Lunch Availability This Week
Lunch	Monday	Tuesday	Wednesday	Thursday	Friday
A	CLOSED	By Appointment	CLOSED	By Appointment	Open TUTORIAL
B	CLOSED	Open TUTORIAL	CLOSED	By Appointment	By Appointment
Motivation for the Week: "Success is not final, failure is not fatal: it is the courage to continue that counts." - Winston Churchill

Agenda
All Classes
1) Review for Test
10 Question Kahoot! to review before the test.

2) TEST
(Unit 7) Personal Financial Literacy

3) Trade-Offs, Opportunity Costs, and the Production Possibilities Curve (PPC)
Important to know, most of what we learn in the economics portion of the course you already intuitively know. Mostly, I will not be giving too much new information. What we will mostly do is make the economic way of thinking accessible and apply the formal vocabulary to the concepts.

It is important to note that in this example any place underneath a PPC represents an inefficient use of resources (point A). Any point outside of the PPC is not possible with the current level of technology and resources (point B). Any point on the PPC represents a possible combination that maximizes your resources (point C), in this example you are maximizing your time. Moving along the PPC from point C to any other point demonstrates opportunity costs. Point C represents a combination of 2 hours of leisure time and 2 hours of academic time. In order to gain 1 more hour of leisure time (3 hours) you will have to give up 1 hour of academic time (1 hour).
Homework
All Classes
Read Section 18.2 and take notes
Complete Activity 1: Scarcity, Opportunity Cost and Production Possibility Curves in the packet

Announcements
UNIT 8 VOCABULARY QUIZ FRIDAY