Ch. 1 Jeopardy Review
Chapter 1: What is Economics? Section 1. Slide 2 Copyright © Pearson Education, Inc.Chapter 1, Section 1 Objectives 1.Explain why scarcity and choice.
What IS Economics?. Economics is the study of how people seek to satisfy their needs and wants by making choices.
Unit One, Lesson One Notes How is Economics defined by scarcity?
What is Economics? Scarcity and Factors of Production Chapter Essential Question How can we make the best economic choices? 9/12, 9/13 9/14, 9/15 9/19.
Warm-up List 5 things you need List 5 things you want How are the two lists different? Which ones can you live without?
Chapter 1: What is Economics? Section 1: Scarcity and factors of Production.
What does the following statement mean. If you don’t know, work it out on your paper. What do you think it means: “There is no such thing as a free lunch.”.
Unit 2 Fundamental Economic Concepts SSEF1-SSEF6 Unit 2: Test SOON!
The Economic Institution What is Economics?. The Economic Institution To satisfy people’s needs and wants, every society develops a system of roles and.
Economics The Study of how people seek to satisfy their wants and needs by making choices.
What is Economics Section 1 Scarcity and the Factors of Production.
