2. Question of the Day
What country is the traditional home of
the tango?
In 2001 it defaulted on $93 billion worth of debt.
Argentina
3. โข How does โข What are two key
economics help us components that
understand the help us think like an
world? economist?
4.
5.
6. What is scarcity?
โข The result of an inability to satisfy all of
everyone's wants
โข What is to be produced, whoโs going to get it,
howโs it going to be produced, and when is it
to be produced?
โข What resources are scarce in our society?
โข How does scarcity affect you?
9. โข What is the true cost of
anything?
โThe amount of money you
spend?
โWhat about whatever you
have to give up in its place?
โข That is called, โopportunity
cost.โ
11. โข Who should the โข Should I spend my
Lions take with the time studying math
first overall pick in or studying social
the draft? studies?
โ What is the โ What is the
opportunity cost? opportunity cost of
studying math all
night?
12.
13. Trade-Offs
A choice that involves giving up some of
one thing to have more of another
โข How do you decide
what to give up?
โข Will people always
agree?
โข Therein lies the
basis of most
politics.
14. Marginal Benefit/Cost
โข Marginal Benefit โข Marginal Cost
โ The extra or โ The extra or
additional benefit of additional cost of a
a decision. decision.
Why do drive-up ATMโs
have Braille on the
keypads?
15. What is the opportunity cost
of going to college after high
school?
16. What is the opportunity cost
of spending $20 on a date?
17. What are three resources that
are scarce for a factory owner?
