State the criteria Evaluate the alternatives Make a decision 702b Given a

State the criteria evaluate the alternatives make a

This preview shows page 66 - 69 out of 95 pages.

State the criteria Evaluate the alternatives Make a decision 7.02b Given a description of a personal economic problem involving the use of credit, apply the decision-making model. ns/index.cfm? lesson=EM364&page=teacher It All Adds Up Interactive Economic Site Decision-Making Model ns/print.cfm? lesson=EM396&page=teacher The Production, Distribution, and Consumption of Goods and Services , The Economic Series (ISBN 1-56007-605-4): Producing, Consuming, Money, Resources, and Needs and Wants , United Learning, 1560 Sherman Avenue, Suite 100, Evanston, IL 60201 Competency Goal 7: The learner will investigate how and why individuals and groups make economic choices. Objective 7.03: Compare examples of tradeoffs and opportunity costs of economic choices. Major Concepts Terms Thinking Skills and Suggested Activities Suggested Resources: Primary, Secondary, Technology, Audio and Visual, and Key Documents for Listed Activities Wants versus Needs Tradeoffs Opportunity Costs Immediate gratification Incentives Fixed costs Variable costs Total costs Marginal costs 7.03a Given descriptions of situations involving individual economic decisions; state the opportunity cost in each decision. What Are Incentives? s/index.cfm?lesson=EM379 Inventive Incentive s/index.cfm?lesson=EM260 Civics & Economics Curriculum Document , 10 th Grade Social Studies, NCDPI, 2004. 66
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CIVICS AND ECONOMICS CURRICULUM 7.03b Select a newspaper article describing an economic decision by a local, state or national business organization and determine the opportunity cost; prepare a letter to the editor expressing your views. 7.03c Determine the trade-offs involved in building a housing development where an apple orchard now stands. Prepare a speech to be delivered to the county commissioners arguing for or against the proposed housing development. The Opportunity Cost of a Lifetime s/index.cfm?lesson=EM51 Weighing Options: Build vs. Buy: A Fresh Look & Other 'Gotchas' m/story/topNews/WST20010918S 0017 Civics & Economics Curriculum Document , 10 th Grade Social Studies, NCDPI, 2004. 67
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CIVICS AND ECONOMICS CURRICULUM Competency Goal 7: The learner will investigate how and why individuals and groups make economic choices. Objective 7.04: Analyze the impact on economic activities of specialization, division of labor, consumption and production increases. Major Concepts Terms Thinking Skills and Suggested Activities Suggested Resources: Primary, Secondary, Technology, Audio and Visual, and Key Documents for Listed Activities Specialization Division of Labor Consumption Production Assembly line Technologies Robotics Invention Innovation Mass production Factory Agribusiness Business organizations Specialization Human capital Productivity White collar Blue collar Skilled workers Unskilled workers Automation 7.04a Assume the role of one of the following and write a paragraph describing how specialization affects
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