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glenco book
Due Date: 1/14/2014
Subject: Economics

http://glencoe.mcgraw-hill.com/sites/0078606934/student_view0/online_student_edition.html

 

 


Eco. Ch. 3 sec. 1
Due Date: 9/9/2013
Subject: Economics

Name:_________________________________

Date:____________________________

 

Hickman, Eco. Chapter 3, sec. 1

 

Forms of Business Organizations

Sec.1, ch. 3

Answer the following

1.                 Name the three forms of business organizations and tell the advantages and disadvantages of each.

Organization

Advantage

disadvantage

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2.                 define:

a. unlimited liability

b. inventory

c. limited life

d. limited partnership

e. bankruptcy

f. charter

g. stock

h. stockholder/shareholder

I. dividend

J. bond, principle

K. interest

L. double taxation

 

 

3.                 Name and describe the two types of partnerships.


Ch. 3 eco - What is a corporation? video
Due Date: 9/6/2013
Subject: Economics

https://www.youtube.com/watch?v=LNkuWBvZ1E4

Watch video and answer the questions - focus is on the characteristics of a corporation


Ch. 1 Review
Due Date: 8/24/2013
Subject: Economics

Complete chapter review, page 28, Identify Key Terms # 1 - 10 and Reviewing the facts, # 1 - 12


Adam Smith - Questions
Due Date: 8/23/2013
Subject: Economics

Questions for pg. 18 Economics

 

Adam Smith

 

1.  What University did he graduate from?

2.  What was the name of his book?

3.  Smith observed that labor becomes more productive as each worker becomes _________________________.

4.  What did he believe would come from new machinery, division of labor and specialization?

5.  How did Smith define the wealth of a nation?

6.  What did Smith mean by “led by an invisible hand”?

7.  define laissez-faire

 


Circular Flow Chart
Due Date: 8/23/2013
Subject: Economics

Draw the chart on page 15 - The Circular Flow of Economic Activity

Define - Product Market and Factor Market

Answer the question under the chart

 


Ch. 2, Sec 2 assignment
Due Date: 8/23/2013
Subject: Economics

E VALUATING ECONOMIC PERFORMANCE

OUTLINING

Directions: Locate the following headings in your textbook. Then use the information under the headings

to help you write each answer. Use another sheet of paper if necessary.

I. Economic and Social Goals

A. Introduction

1. What are two kinds of goals people may share?

2. How many major kinds of goals are there?

B. Economic Freedom

1. What are three examples of economic freedom for individuals?

2. What kind of economic freedom do business owners want?

C. Economic Efficiency

1. What happens if resources are wasted?

2. Why must economic decision making be efficient?

D. Economic Equity

1. What are two examples of economic equity?

2. What is a “lemon law”?

E. Economic Security

1. What do American workers want protection from?

2. What kind of protection does Social Security offer?

F. Full Employment

1. What happens when people work?

2. What happens when people do not have jobs?

G. Price Stability

1. What is inflation?

2. What happens to people on fixed incomes when there is inflation?

H. Economic Growth—Why is economic growth needed as a population grows?

II. Trade-Offs Among Goals

A. What is the opportunity cost of a policy of protecting a domestic industry, such as shoe manufacturers?

B. What is the trade-off in increasing the minimum wage?


Ch. 2, sec. 3 assignment
Due Date: 8/23/2013
Subject: Economics

Economics Ch 2, sec. 3

Capitalism and Economic Freedom

1.                  Define the key terms on page 46.

 

2.                  Identify and describe the 5 characteristics of a free enterprise.

Characteristic

Example

1

 

 

 

2

 

 

 

3

 

 

 

4

 

 

 

5

 

 

 

3.                  Describe the role of the entrepreneur.

 

4.                  Analyze the consequences of consumer economic decisions in a free enterprise economy.

 

5.                  Identify the role of the government in a free enterprise economy.


Ch. 2 vocab activity
Due Date: 8/23/2013
Subject: Economics

 CHAPTER 2: ECONOMIC SYSTEMS AND DECISION

MAKING Directions:Write one of the following terms on each numbered line below to complete the news report.

Two terms are not used.

 Social Security,  capitalism, economic system, market economy, fixed income, voluntary exchange, consumer sovereignty inflation,  private property, command economy, profit, and mixed economy

The kickoff for Governor Ed Ham’s bid for reelection began last night with his campaign speech to several hundred senior citizens concerned by the recent rise in 1. __________________, , which has brought food prices to a nearly unacceptable level for those living on a 2. _____________________.

He also spoke to a large group of people who survive only on 3._____________________ payments, which have been threatened by recent attempts of Congress to reduce benefits.

“Our 4. ___________________ has not always been successful in providing for the wants and needs of our citizens,” Governor Ham said. “You may feel that the 5.________________has left you behind and without choices or power to affect what companies produce and charge. What we need to do is go back to the basics of

6. _________________ so that citizens can once again own the factors of production,” he added.

 When asked how he proposes to carry out his plans, Governor Ham said he believes strongly in benefiting both  buyers and sellers with opportunities for a 7.______________________that will bring more money and 8._________________ to all. He wants to give 9.___________________________ back to the buying public so they can once again rule the Market. He also mentioned the need for laws to protect 10. __________________  so people are freer to do what they wish with their possessions.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Ch. 2 Sec. 1
Due Date: 8/20/2013
Subject: Economics

Name: ____________________

Date: _____________________

 

Chapter 2, Sec. 1

Economic Systems

 

Name of Economic System

Example

Advantages

Disadvantages

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Define:

 

Economic System:

 

Traditional Economy:

 

Command Economy:

 

Market Economy:

 

 

 


Project Durable and nonDurable
Due Date: 8/20/2013
Subject: Economics

Hickman – Chapter 1 assignment – Economics

Make a Collage

 

Divide your paper into two sections – label one side Durable Goods and the other side Nondurable Goods –

Using pictures – collect various examples of each and put on your paper (must have at least 6 pictures of each)

 

Due – Monday – 10-19-09

Graded on

 

Did you follow instructions-----------------05 points

Durable Goods--------------------------------15 points

NonDurable Goods---------------------------15 points

Neatness/Name/Title--------------------------05 points

Turned in on time-----------------------------10

 

Total points ------------------------------------50 points

 


Ch. 1, sec. 1, 2 and 3
Due Date: 8/19/2013
Subject: Economics

SCARCITY AND THE SCIENCE OF ECONOMICS - Sec. 1

Directions:Use the information in your textbook to answer the questions. Use another sheet of paper if

necessary.

 1.What is the basic economic problem facing all societies?

2.How is need different from want?

3.What do the letters TINSTAAFL stand for, and what does the term mean to consumers?

4.What are the three basic questions societies have to answer about the way their resources are used?

5.List the factors of production and define each one.

6.What is production?

7.What are the four key elements of the study of economics? Explain briefly why each one is important.

BASIC ECONOMIC CONCEPTS - sec. 2

 

 Directions:Locate the following headings in your textbook. Then use the information under the headings

 

to help you write each answer. Use another sheet of paper if necessary.

I.Goods, Services, and Consumers

 

A.Introduction—What is scarcity in an economic sense?

 

B.Goods—What is the difference between a consumer good and a capital good?

 

C.Services—What kind of economic product is a service?

 

D.Consumers—What is a consumer?

 

II.Value, Utility, and Wealth

 

A.Introduction—To what does value refer?

 

B.Paradox of Value—What is the paradox of value?

C.Utility—What is required for something to have value?

D.Wealth—What is wealth?

 

III.The Circular Flow of Economic Activity

A.Introduction—What is a key feature of circular flow?

 

B.Factor Markets—What is a factor market?

 

C. Product Markets—Where do individuals spend their income from the resources they sell?

IV. Productivity and Economic Growth

 

A.Productivity—What is productivity?

 

B.Division of Labor and Specialization—How do division of labor and specialization affect productivity?

 

C.Investing in Human Capital—In what ways can government, businesses, and individuals invest in human capital?

 

ECONOMIC CHOICES AND DECISION MAKING  - sec. 3

 FILLING IN THE BLANKS

Directions:Use your textbook to fill in the blanks using the following words. Some words may be used

more than once. Use another sheet of paper if necessary.

trade-offs, cost-benefit analysis, maximum combinations

free enterprise economy, standard of living, decision-making grid,

production possibilities frontier, opportunity cost, fully employed,

Trade-Offs, and Opportunity Cost

Whenever people make economic decisions, they face1__________, or alternative choices. Using a

 2___________________allows consumers to consider various alternatives and decide which one comes closest

to meeting their needs. 3____________is more than the price tag on a good or service. It is the cost

of the next best alternative use of money, time, or resources.

 Production Possibilities

To illustrate the concept of 4________________, economists use a diagram representing various

combinations of goods and/or services an economy can produce when all productive resources are5_____________. By showing the various alternatives, the 6 ________________________allows producers to decide how to allocate limited resources. The diagram indicates the7__________________ofgoods and/or services that can be produced. If, however, for various reasons some resources are not8_____________________, the producer cannot reach its full production potential and the9______________of that failure is whatever is not produced. Economic growth occurs when moreresources or increased productivity causes the10____________to move outward.

Thinking Like an Economist

Economists use various methods to help people make the best choices among the many wants that compete for the

use of scarce resources. One is 11__________________________,a way of thinking about a problem that compares

the costs of an action to the benefits received. This allows a business, for example, to choose investment projects that 

give the highest return per dollar spent.

 The Road Ahead

The study of economics can provide a more detailed understanding of a 12_____________________, where consumers

and privately owned businesses, rather than government, make the majority of economic decisions. It provides an understanding of a number of factors that have a bearing on our 13_____________, which is the

quality of life based on the possession of the necessities and luxuries that make life easier.