Unit 5
What is the Economic Problem?
Class preparation
Read chapter 5 "What is the Economic Problem"
Lecture outline
What are our National economic goals?
Read chapter 5 "What is the Economic Problem"
Lecture outline
What are our National economic goals?
- Low unemployment
- Low inflation
- Steady GDP growth
- A level playing field (opportunity for all)
- What should we produce?
- How much should we produce?
- For whom should we produce?
| 5._lecture_-_the_economic_problem1.ppt |
Communism: The Soviet Story
Read the homework instructions, and watch the 30-min. video below - which is synched to the homework questions
Read the homework instructions, and watch the 30-min. video below - which is synched to the homework questions
| communism_-_the_soviet_story - homework instructions.docx |
Homework questions (8 questions, 100 points total)
Ch. 5 end of chapter "Content Questions" (7 questions)
....plus.....
Review Question: “Your chocolate-covered jalapeno business has been going great! You pick up the phone and call your chocolate supplier – ‘Sinful Chocolate Company’ – and demand a better supply arrangement from them, as follows: $5/lb up to 100 lbs, $4/lb from 100 to 200 lbs., and $3/lb above 200 lbs. Sally, the owner of Sinful, accuses you of violating the “Law of Supply” and rudely ends the phone call. Is Sally correct?” You may need to review the lecture slides posted in Unit 4, and Ch. 4 of the text. Give this some thought in light of what we have learned!
Ch. 5 end of chapter "Content Questions" (7 questions)
....plus.....
Review Question: “Your chocolate-covered jalapeno business has been going great! You pick up the phone and call your chocolate supplier – ‘Sinful Chocolate Company’ – and demand a better supply arrangement from them, as follows: $5/lb up to 100 lbs, $4/lb from 100 to 200 lbs., and $3/lb above 200 lbs. Sally, the owner of Sinful, accuses you of violating the “Law of Supply” and rudely ends the phone call. Is Sally correct?” You may need to review the lecture slides posted in Unit 4, and Ch. 4 of the text. Give this some thought in light of what we have learned!
