Starter # 1 What is the supreme difference

between your wants and your needs?

Closer # 1 Are people animals?

Does having life mean to be greedy?

Starter # 2 Define “Globalization”.

What problems might arise due to the continuing connectedness of the world economy?

Closer # 2 How many countries are you wearing? Write down all the different countries

that you can….socks, shoes, shirt, jewelry, etc…

What are your feelings about the low wages the workers were paid to manufacture those items. Explain.

Starter # 3 In your opinion, does the United States

do a sufficient job providing for equality of the distribution of production?

Closer # 3 Socialism vs. Laissez Faire

Where do you stand on this idea?

STARTER # 4 “Every decision made by the US

government for the past 226 years have been about preserving the economy.”

- Phil Ugalde- 2015

Respond to this quotation and back up your response with at least two examples and explain.

CLOSER # 4 Congratulations!!! You are middle-

class!!

Define it formally. In your own words…and

Describe what that means to you if anything.

Starter # 5“Any man that cannot draw on two thousand years of human history is living from hand-to-mouth.”

Ben Franklin

Respond to this quotation.

Closer # 5 “The things you own, …end up owning

you.”

- Tyler Durden, Fight Club

Respond

Starter # 6 Pick your favorite product. Whatever?!

What effect does this product have on the environment overall? Discuss…

Closer # 6 Concerning your favorite product

mentioned in the Starter….

What is the highest price that you would pay for that item?

Explain how your tastes may change over time.

Starter # 7 How do you determine the

value of something?

Really think about this How do you put a price? Discuss all the factors and calculations you might think of to determine whether something is valuable or not.

Closer # 7 Imagine in the near future that a

massive earthquake happens. What types of things should be in earthquake survival kit? Why?

Starter # 8 Going back to the ideas of socialism vs

laissez faire and the idea of scarcity… Describe what problems might arise

from a state of “pure capitalism”.

Closer # 8 The black market is all around us.

Why is the “black market” bad for the economy?

OR Is it a necessary evil?

Starter # 9 Adam Smith stated that the economy is

controlled by an “invisible hand”. What does that mean to you?

Closer # 9 What is your favorite product?

Why?

Starter/Closer # 10 synthesis Concerning your favorite product…Review the following: Opportunity cost, how the economic questions are answered for it, factors of production involved, whether or not it is a necessity provided by

socialism, marginal utility and diminishing marginal utility,

advertising, how each of the aspects that affect demand

(B.I.T.E.R.) would effect your favorite product.