Chapter 4 - Gains from Trade
Essential Question: How does trade make people better off?
Chapter 4 Points Checklist:
Notebook Guide Questions (Complete all) - 5 points Processing: Comic Strip - 5 points Reading Challenge Game "Matrix of Knowledge" - 5 points Chapter 4 Quiz - 10 points |
Vocabulary
specialization division of labor barter voluntary exchange money economic interdependence absolute advantage comparative advantage |
Section 1 - Introduction
-Read Section 1 and then familiarize yourself with the vocabulary for the chapter.
-Complete the questions about the opportunity costs when managing a fast food restaurant.
-Complete the questions about the opportunity costs when managing a fast food restaurant.
Section 2 - How does specialization lead to economic interdependence?
Read Section 2 and complete the corresponding Notebook Guide Questions
Section 3 - How do people and nations gain from specialization and trade?
Read Section 3 and complete the corresponding Notebook Guide Questions
Section 4 - How does trade make us wealthier?
Read Section 4 and complete the corresponding Notebook Guide Questions
The Power to Choose
Read the Power to Choose and complete the skills inventory, write a short paragraph describing if you agree or disagree with the results. Then write another paragraph describing why these skills make trading more beneficial to you.
econ_ch_4_skills_assessment.pdf | |
File Size: | 31 kb |
File Type: |
Summary
Read the short Chapter Summary
Processing: Comic Strip Creating
Create a colorful comic strip illustrating the concept of comparative advantage.Your comic strip should include:
• at least two characters (not Selkirk or Pirate Jack)
• a title
• a caption or voice bubble containing the term comparative advantage
• captions or voice bubbles containing at least two of these terms: specialize/specialization, division of labor, opportunity cost, absolute advantage, economic interdependence
-You can either draw it by hand and take a picture of it, and then upload that file, OR use a comic strip drawing app of web tool OR create a Google Drawing file and share it with me.
• at least two characters (not Selkirk or Pirate Jack)
• a title
• a caption or voice bubble containing the term comparative advantage
• captions or voice bubbles containing at least two of these terms: specialize/specialization, division of labor, opportunity cost, absolute advantage, economic interdependence
-You can either draw it by hand and take a picture of it, and then upload that file, OR use a comic strip drawing app of web tool OR create a Google Drawing file and share it with me.
Assessment
-Complete the Reading Challenge for Chapter 4
-Complete the Chapter 4 Quiz once you have reviewed your notes and completed the Reading Challenge.
-Complete the Chapter 4 Quiz once you have reviewed your notes and completed the Reading Challenge.