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14 lessons found; showing 10 per page, sorted by Title...
Showing Grade 12e, Unit 1, Economic Terms and Reasoning
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Opportunities and Costs

Description: The true cost of doing something is the value of whatever opportunity one must give up in order to do it. Like all values, such opportunity costs are subjective and difficult to measure in terms of dollars or any other units. Most importantly, since time, energy and resources are scarce, any and every choice involves a cost; some use of scarce resources must be foregone to put them to the most desired use. Apply these concepts to the issue of health care. Standards 12.1.1 and 12.1.2 economics

Author: Dwight R. Lee

Lesson ID: 785

Scarcity, Choice, and Decisions

Description: The interrelated concepts of scarcity, choice, and costs form a basic economic trilogy. Since most families have financial resources far more limited than their wants, individuals and families face the problem of dealing with money scarcity. Deciding how to use scarce resources is a problem of societies as well as families. And every choice involves an opportunity cost -- i.e., by deciding to use resources in one way, the decision-maker must give up all opportunities to use them in another way. Standard 12.1.1 economics

Author: Northwestern Mutual

Lesson ID: 928

Tapped Dry: How Do You Solve a Water Shortage?

Description: Water scarcity is an issue that proves economists do not operate in a vacuum. If an economist is going to suggest that the price of a good needs to be increased, he or she needs to consider who will bear the increase in costs. Will the costs be distributed equally or will one group pay more than another group? Furthermore, an economist should ask if there is a more efficient way to allocate the good than by means of a broad-based price increase. Here's your chance to develop a water policy using the four Es: Equity, Environment, Economy, and Effectiveness. Standards Econ 12.1.1 and 12.1.4

Author: Conor Irons, University of Chicago

Lesson ID: 1007

The Golden Opportunity

Description: Last month some hikers stumbled across an old mining camp. They found evidence and maps that document a vast gold vein still exists within the boundaries of Marshall Gold Discovery State Park. It was named the "Great Grandmother Lode". The "Mine Your Own Business Mining Co." proposed a deal to split 50% of the gold profits with California State Park System in return for the right to mine within the Park boundaries. Normally, the state parks would not consider the matter, but state cutbacks are hitting the park budget hard and forcing up to 50% cutbacks. Standard 12.1.1, 12.1.2, and 12.3.1 Your team will take part in presenting a project that will determine whether large scale mining should take place. This evidence will be used to answer they key question: Should Marshall Gold Discovery State Park be reopened to commercial gold mining? Standard 12.1.4

Author: Cliff Dimond, SCORE Science

Lesson ID: 1038

14 lessons found; showing 10 per page, sorted by Title...
Showing Grade 12e, Unit 1, Economic Terms and Reasoning
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