Unit Originally Created By:
Mike Morris
Economics
Part of Course: Marketing Model
Unit Overview / Details
After completing this unit, the students will be able to explain what an economy is, identify the factors of production needed to create goods and services. They will also be able to list the three basic economic questions that must be answered by all economies.
Instructional Hours
- Classroom
- 10 Hours
Standards
- California Career and Technical Education Standards: 7
- California Academic Content Standards: Reinforced: 7
- All Standards
- Full Details
Content and Concepts
- Students will be able to summarize the key principals on which a modified free enterprise system is based
- Students will be able to explain how supply and demand interact to set prices
- Students will be able to identify various types of economies
- Students will be able to identify various types of economies measurements
- Students will discuss the role of the government and the consumer in a market economy
- Students will bel able to identify the factors of production and relate them to the three basic questions that all economies must answer
- Students will bel able to list the goals of a healthy economy, and explain how they are measured
- Students will bel able to describe the four phases of the business cycle
Lessons in this Unit
This lesson examines different types of economies, including the free enterprise system, and develop key economic concepts such as resources and the ways in which economics are evaluated.
- Textbook: Marketing Essentials.Glencoe -McGraw Hill. Copyright 2006, Woodland Hills, CA
- 2 - 3 Blocks
- 200 - 300 Minutes
This lesson will cover how scarcity and private enterprise, law of supply and demand, economic competition, and economic utility are involved with marketing.
- Lesson Opener
- 15 Minutes
- Vocabulary
- 55 Minutes
- Cornel Notes
- 110 Minutes
- Teamwork Project
- 55 Minutes
- Projects
- 55 Minutes
- Check Your Understanding
- 25 Minutes
- Questions
- 30 Minutes
