In any economic system, people must decide what to produce, how to produce it, when to produce it, and who will get it. This lesson looks at the "when" question. In particular, if society has only a finite amount of some resource, when should that resource be used -- today, tomorrow, or not at all? This problem is sometimes called the "cake-eating" problem: given a cake (with good preservatives!), what is the best way to eat it? All at once? A little each day? or by some other pattern of consumption? In this lesson students learn how people making decisions in the market for a nonrenewable resource decide when the resource will be used. After reviewing the news around Clinton's Africa visit and his focus on environmental issues in Botswana, they are introduced to the "when" question with a spring holiday variation of the 'cake-eating' problem. The snacks described in the problem are then used to demonstrate how a market for a nonrenewable resource works.
Why are some countries very wealthy and others so poor? In this lesson you will learn about the factors that contribute to a nation's standard of living.
Using poverty rate as a measure of development, students select countries five at a time to compare how resources are allocated to three economic sectors (agriculture, industrial, service). After making comparisons, students will identify patterns in which sector is emphasized by the wealthiest countries, and will look for patterns in the geographic distribution of countries.
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This publication contains complete instructions for teaching the lessons in Capstone. When combined with a textbook, Capstone provides activities for a complete high school economics course. 45 exemplary lessons help students learn to apply economic reasoning to a wide range of real-world subjects.
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Use this DVD program to show students how to live healthy, wealthy and risk-free.
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Focus: Understanding Economics in U.S. History uses a unique mystery-solving approach to teach U.S. economic history to your high school students.
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