Prayer
Current events:
A budget video from Political Math will be shown.
We are on the Production Possibilities Curve:
"A correctly labeled Production Possibilities Curve/Frontier," and "Tougher Questions About the Production Possibilities," up to, but not including "Absolute and Comparative Advantage."
As review assistance, consider the post, "Every Graph You Need To Know," to supplement your understanding of the Production Possibilities Curve and subsequent graphing.
Read, and printing it out may make it easier to review,
"Opportunity Cost: The Soviet Choice for Growth."
HW: email answers to me at gmsmith@shanahan.org.
Chapter 2
1. What are the three (3) basic economic questions every society must answer?
2. Who determines what goods will be produced in a capitalist economy?
3. How?
4. What three (3) things determine what goods and services will be produced in an economy?
NB: Quiz Preparation Page on Shanawiki has been added.
