Unit 1 - Introduction to Economics
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Unit Objectives:
1. Students will understand the Economic Principles and why they are important
2. Students will learn how to construct and evaluate data using charts, tables, graphs, etc.
3. Students will understand how to analyze costs vs. benefits
4. Students will understand alternative courses of action/other directions and that all decisions come with a cost
5. Students will understand the factors of production and how production of one product affects another
6. Students will compare and contrast the different economic systems in the world today
7. Students will evaluate the meaning, implication, and impact of historical events on the world economy today
8. Students will define the role of business and entrepreneurship in the economy
Essential Questions:
1. What is economics and what are the Economic Principles?
2. Why do we study economics?
3. How do people make decisions?
4. What is the state of our economy, and why do we care?
5. How do different types of economies compare (what to produce, how to produce, for whom to produce)?