Today we...
1. discussed our $50 million gift exercise...compared our choices if we had only $10,000.
2. Discussed - Economic Concepts
- Scarcity - resources are limited, wants are unlimited
- Means of Production - Land, Labour, Capital
- 3 basic economic questions - 1. What goods should be produced? 2. How will these goods and services be produced? 3. Who should decide how goods and services should be distributed.
3. Chapter 7 worksheet
Homework - Make sure CH. 7 worksheet is complete.
No comments:
Post a Comment