Students will be able to:
- Explain how government uses the power of taxation to redistribute income.
- Define opportunity cost as the next best alternative given up when individuals, businesses, and governments confront scarcity by making choices.
In this economics lesson, students will examine a public-private partnership to learn about opportunity cost.
In this economics lesson, students will revise a federal budget to understand its contents.
Key Concepts: Budget Deficits and Public Debt, Decision Making/Cost-Benefit Analysis, Roles of Government
In this personal finance lesson, students will use an IRS Form 1040 to calculate personal income tax.
Key Concepts: Taxes
In this economics lesson, students will evaluate fiscal policy objectives to learn the challenges of sustainable national budget formation.
Key Concepts: Budget Deficits and Public Debt, Fiscal Policy, Roles of Government
In this economics lesson, students will use cost-benefit analysis to build their own Minecraft shelter.
Key Concepts: Decision Making/Cost-Benefit Analysis, Opportunity Cost