Friday, March 8, 2013

Economics: Day 2

Date
Friday, March 8


Pages covered
Period 5: 9
Period 6: 7-9
Period 8: 8-9


Topics covered

Period 5: Eisenhower (choosing weapons means not choosing social benefits), resource allocation, inputs, outputs, factors of production (land - natural resources like land, sand, oil, mining, and environmental health; labor - human time spent on production; and capital - investment in the future of the economy in the form of factories, machinery, roads, etc.), production-possibility frontier (weapons production up and car production down in WWII)

Period 6: The 3 problems of economic organization (What goods are produced?  How are goods produced?  Who gets the goods?), market economy, laissez-faire, command economy, mixed economy, Eisenhower (choosing weapons means not choosing social benefits)

Period 8: Market economy, laissez-faire, command economy, mixed economy, Eisenhower (choosing weapons means not choosing social benefits), resource allocation, inputs, outputs, factors of production (land - natural resources like land, sand, oil, mining, and environmental health; labor - human time spent on production; and capital - investment in the future of the economy in the form of factories, machinery, roads, etc.), production-possibility frontier (weapons production up and car production down in WWII)

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