Binder Check #2 📚

⏰ What We Did

• Returned and discussed the answers to last week's "Understanding Market Equilibrium"
• Conducted the Q3 Economics binder check

Lesson 5 Lesson Review 5️⃣

🎯 Learning Targets

• Review the key concepts covered in Lesson 5 of Economics

⏰ What We Did

• Took a quiz on Lesson 5, Part 3: Managing Prices
• Began working on Lesson 5 Lesson Review (Due M 7 April 2025)

⚙️ Resources

• Lesson 5 Lesson Review (LR-4)

Managing Prices 💵

🎯 Learning Targets

• Explain why governments sometimes set prices
• Explain what governments try to accomplish through price floors, price ceilings, and rationing
• Explain what happens when governments manage prices

⏰ What We Did

• Continued playing "Business Strategy," incorporating content concepts into the game

⚙️ Resources

• Business Strategy Central

Determining Prices 🍻

🎯 Learning Targets

• Explain what market equilibrium is
• Explain how the price system handles product surpluses and shortages
• Explain how shifts in demand and supply affect market equilibrium

⏰ What We Did

• Using Prohibition of the 1920s and 1930s as a case study, examined the impact of the 18th Amendment on the supply and demand of both alcoholic beverages and grain

⚙️ Resources

• Understanding Market Equilibrium (A-8)

💻 Homework

• Watch and take notes on Lesson 5, Part 3: Managing Prices, before class tomorrow

The Price System 🏷

🎯 Learning Targets

• Explain the role of the price system
• Describe the benefits of the price system
• Describe the limitations of the price system

⏰ What We Did

• Watched and took instructional notes on Lesson 5, Part 1: The Price System
  
• Continued playing "Business Strategy"

⚙️ Resources

• Lesson 5 Instructional Notes
• Lesson 5, Part 1: The Price System
• Business Strategy Central

💻 Homework

• Watch and take notes on Lesson 5, Part 2: Determining Prices, before class tomorrow

"Plotting Supply Curves," "Setting Prices" ❗️

🎯 Learning Targets

• Explain why producers look at productivity when making supply decisions
• Describe how varying levels of input affects the levels of output
• Explain how changes in production costs affect producers’ supply decisions

⏰ What We Did

• Collect Lesson 4 Lesson Review, handed out W 19 March 2025
• Distributed and discussed the checklist for the second Economics Binder Check
• Returned and discussed the answers to last week's "Plotting Supply Curves" and Monday's "Setting Prices"

⚙️ Resources

• Economics Binder Portal (M 7 Apr 2025)

Spring Break — No School 🏖

Clintondale High School is currently on Spring Break. Classes will resume on Monday, March 31, 2025, at 7:35 A.M.

Have a fun and relaxing time away, Dragons!

Spring Break Countdown ⏲

⏰ What We Did

• Due to low student census, played general trivia Kahoot!

Lesson 4 Lesson Review 4️⃣

🎯 Learning Targets

• Review the key concepts covered in Lesson 4 of Economics

⏰ What We Did

• Took a quiz on Lesson 4, Part 3: Making Production Decisions
• Began working on Lesson 4 Lesson Review

⚙️ Resources

• Lesson 4 Lesson Review (LR-4)

Lesson 4 Lesson Review 4️⃣

🎯 Learning Targets

• Review the key concepts covered in Lesson 4 of Economics

⏰ What We Did

• Took a quiz on Lesson 4, Part X: X
• Began working on Lesson 4 Lesson Review

Business Strategy 💸

🎯 Learning Targets

• Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Continued playing "Business Strategy"

⚙️ Resources

• Business Strategy Central

Making Production Decisions 📈

Today is St. Patrick's Day 🍀

🎯 Learning Targets

• Explain why producers look at productivity when making supply decisions
• Describe how varying levels of input affects the levels of output
• Explain how changes in production costs affect producers’ supply decisions

⏰ What We Did

• Used instructional notes from Lesson 4, Part 3: Making Production Decisions, to calculate revenue, costs, and profit at various price points to determine the ideal price for a good

⚙️ Resources

• Setting Prices (A-7)

Changes in Supply 📈

🎯 Learning Targets

• Explain what it means for a product’s supply to shift
• Identify factors that might cause a product’s supply curve to shift
• Describe the difference between a tax and a subsidy

⏰ What We Did

• Discussed and reviewed the determinants of supply, the non-price factors that shift supply curves
• Used Lesson 4, Part 2 instructional notes to draw — and then shift — supply curves

⚙️ Resources

• The Determinants of Supply (H-3)
• Plotting Supply Curves (A-6)

💻 Homework

• Watch and take notes on Lesson 4, Part 3: Making Production Decisions, before class on Monday

Changes in Supply Notes 📈

Half-Day Due to Parent-Teacher Conferences 🐲

🎯 Learning Targets

• Explain what it means for a product’s supply to shift
• Identify factors that might cause a product’s supply curve to shift
• Describe the difference between a tax and a subsidy

⏰ What We Did

• Took instructional notes on 4, Part 2: Changes in Supply, to be ready for tomorrow's assignment

Nature of Supply 📈

Late Start Day 🕣

🎯 Learning Targets

• Explain the difference between supply and quantity supplied
• Explain what the law of supply states
• Explain what supply schedules and supply curves illustrate
• Describe supply elasticity

⏰ What We Did

• Watched and took instructional notes on Lesson 4, Part 1: Nature of Supply
  
• Continued playing "Business Strategy"

⚙️ Resources

• Lesson 4 Instructional Notes
• Lesson 4, Part 1: Nature of Supply
• Business Strategy Central

💻 Homework

• Watch and take notes on Lesson 4, Part 2: Changes in Supply, before class tomorrow

Lesson 3 Lesson Review 3️⃣

🎯 Learning Targets

• Review the key concepts covered in Lesson 3 of Economics

⏰ What We Did

• Reviewed the answers to "Exploring Revenue and Demand Elasticity" from last Friday
• Took a quiz on Lesson 3, Part 2: Changes in Demand
• Began working on Lesson 3 Lesson Review

⚙️ Resources

• Lesson 3 Lesson Review (LR-3)

Business Strategy: Loans Payable, Capital Improvements 💸

🎯 Learning Targets

• Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Passed back and went over "Plotting Demand Curves" from last Thursday
• Finished learning how to play "Business Strategy," making decisions on whether to take out a loan and making capital improvements (ordering more factories)

⚙️ Resources

• Business Strategy Central

Elasticity of Demand 📉

🎯 Learning Targets

• Define demand elasticity
• Describe the difference between elastic and inelastic demand
• Explain how demand elasticity is measured

⏰ What We Did

• Used instructional notes from Lesson 3, Part 3: Elasticity of Demand, to calculate and examine the elasticity of demand

⚙️ Resources

• Exploring Revenue and Demand Elasticity (A-5)

Changes in Demand 📉

🎯 Learning Targets

• Explain what it means for a product’s demand to shift
• Identify and describe the factors that can shift demand for a product
• Explain how substitute goods differ from complementary goods

⏰ What We Did

• Discussed and reviewed the determinants of demand, the non-price factors that shift demand curves
• Used Lesson 3, Part 2 instructional notes to draw — and then shift — demand curves

⚙️ Resources

• The Determinants of Demand (H-2)
• Plotting Demand Curves (A-4)

💻 Homework

• Watch and take notes on Lesson 3, Part 3: Elasticity of Demand, before class tomorrow

Nature of Demand 📉

🎯 Learning Targets

• Describe how demand differs from the quantity demanded
• Explain what the law of demand states
• Explain what demand schedules and demand curves illustrate
• Individually and collaboratively, students will engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Watched and took instructional notes on Lesson 3, Part 1: Nature of Demand
• Continued playing "Business Strategy," incorporating concepts from today's lesson into the game

⚙️ Resources

• Lesson 3 Instructional Notes
• Lesson 3, Part 1: Nature of Demand

💻 Homework

• Watch and take notes on Lesson 3, Part 2: Changes in Demand, before class tomorrow

Business Strategy: Loans Payable, Capital Improvements 💸

🎯 Learning Targets

• Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Finished learning how to play "Business Strategy," making decisions on whether to take out a loan and making capital improvements (ordering more factories)

⚙️ Resources

• Business Strategy Central

Business Strategy: Production, FIU Sales 💸

🎯 Learning Targets

• Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Continued learning how to play "Business Strategy," making production decisions (turning RMUs into finished inventory units [FIUs]) and selling FIUs

⚙️ Resources

• Business Strategy Central

Business Strategy: Fixed Expenses, RMU Purchases 💸

🎯 Learning Targets

• Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Continued learning how to play "Business Strategy," calculating initial expenses for each company and bidding to buy raw material purchases (RMUs) for the first round ("month")

True Black History Museum

🎯 Learning Targets

• Examine contributions of African-Americans in the arts, sciences, sports, entertainment, education, military, and politics

⏰ What We Did

• Attended a tour of the mobile True Black History Museum in the CHS Conference Center

Business Strategy: Fixed Expenses, RMU Purchases 💸

🎯 Learning Targets

• Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Conducted the P3 Economics binder check
• Continued learning how to play "Business Strategy," calculating initial expenses for each company and bidding to buy raw material purchases (RMUs) for the first round ("month") (NOTE: The game was postponed because the Federal Reverse Bank did not have money; the H.S. Mint did not have it prepared)

Business Strategy 💸

🎯 Learning Targets

• Engage in planned inquiries to describe and demonstrate how the economic forces of scarcity and opportunity costs impact individual and household choices

⏰ What We Did

• Begin learning how to play "Business Strategy," organizing into groups ("companies") and providing an overview of the game

⚙️ Resources

• Six Phases of Business Strategy

Lesson 2 Quiz 💯

🎯 Learning Targets

• Review the key concepts covered in Lesson 2 of Economics

⏰ What We Did

• Reviewed the answers to "Classifying Business Organizations"
• Took a quiz on Lesson 2, Part 3: Corporations
• Continued working on Lesson 2 Lesson Review (Due on W 26 Feb 2025)

⚙️ Resources

• Classifying Business Organizations (Answers)

Lesson 2 Lesson Review 2️⃣

🎯 Learning Targets

• Review the key concepts covered in Lesson 2 of Economics

⏰ What We Did

• Reviewed the answers to "Classifying Business Organizations" from last week (Moved to M 24 Feb 2025)
• Took a quiz on Lesson 2, Part X: X (Moved to M 24 Feb 2025)
• Began working on Lesson 2 Lesson Review

⚙️ Resources

• Economics ✮ Lesson 2 Lesson Review (LR-2)

Imperfectly Competitive Markets 🍔

🎯 Learning Targets

• Describe the structure of an oligopoly
• Define a monopoly
• Identify the types of monopolies that exist
• Describe the factors that affect price in oligopolies and monopolies

⏰ What We Did

• Used the instructional notes from Lesson 2, Part 6: Imperfectly Competitive Markets, to answer the following questions in complete sentences:

1. Define oligopoly, interdependent pricing, price leadership, price war, collusion, cartel, natural monopoly, economies of scale, geographic monopoly, technological monopoly, patent, copyright, and government monopoly.
2. Compare the characteristics of oligopolies and monopolies.
3. What are the four main types of monopolies? Under what conditions does each type tend to arise?
4. Identify the factors that affect prices in oligopolies and monopolies.

Highly Competitive Markets 🍏

🎯 Learning Targets

• Define perfect competition
• Define monopolistic competition
• Explain how sellers differentiate their products under monopolistic competition

⏰ What We Did

• Distributed and discussed the checklist for the first Economics Binder Check
• Distributed and discussed a handout on perfect and imperfect competition
• Used the instructional notes from Lesson 2, Part 5 to answer the following questions in complete sentences:

1. Define perfect competition, buyer, seller, monopoly, monopolistic competition, differentiate, product differentiation, and non-price competition.
2. What four conditions must exist for a market to be perfectly competitive?
3. How does monopolistic competition differ from perfect competition?
4. How do sellers in monopolistic competition compete with one another?

⚙️ Resources

• Perfect vs. Imperfect Competition (H-1)
• Economics Binder Portal (W 26 Feb 2025)

💻 Homework

• Watch and take notes on Lesson 2, Part 6: Imperfectly Competitive Markets, before class tomorrow

Mid-Winter Break — No School ❄️

Clintondale High School is out on Mid-Winter Break. Classes will resume on Wednesday, February 19, 2025, at 7:35 A.M.

Mid-Winter Break — No School ❄️Presidents' Day 🇺🇸

George Washington's Birthday Observed (1732) 🇺🇸

Clintondale High School is out on Mid-Winter Break

Other Forms of Organization 🕴

🎯 Learning Targets

• Explain how vertical combinations differ from horizontal and conglomerate combinations
• Explain why a business owner might decide to open a franchise
• Describe the customer’s role in a cooperative
• Describe how a nonprofit organization differs from other types of business organizations

⏰ What We Did

• Used instructional notes for Lesson 2, Part 4 and a provided text to examine leveraged buyouts (LBOs), a means by which vertical, horizontal, and conglomerate combinations may occur

⚙️ Resources

• Leveraged Buyouts (A-3)
• What Are Leveraged Buyouts? (Text)

💻 Homework

• Watch and take notes on Lesson 2, Part 5: Highly Competitive Markets, before class on Wednesday

Inclement Weather — No School 🥶

Clintondale High School is closed due to inclement weather. Classes will resume on Friday, February 14, 2025, at 7:35 A.M.

Classifying Business Organizations 🧮

Abraham Lincoln's Birthday (1809) 🇺🇸

🎯 Learning Targets

• Identify the advantages and disadvantages of sole proprietorships, partnerships, and corporations
• Calculate and create a circle graph from given data

⏰ What We Did

• Completed a review of the advantages and disadvantages of the three main types of business organization covered so far in Lesson 2
• Calculated and created pie chart from government data on the number, sales, and income of the three business organizations

⚙️ Resources

• Classifying Business Organizations (A-2)

💻 Homework

• Watch and take notes on Lesson 2, Part 4: Other Forms of Organization, before class tomorrow

Corporations 🏢

🎯 Learning Targets

• Explain how a corporation is formed
• Describe how a corporation is organized
• Explain how stocks and bonds differ
• Describe the advantages and disadvantages of organizing a corporation

⏰ What We Did

• Used the instructional notes from Lesson 2, Part 3 to answer the following questions in complete sentences:

1. Define corporation, stock, share, dividend, common stock, preferred stock, corporate bond, principal, and interest.
2. Legally, how is a corporation treated as an individual?
3. How are corporate bonds different from shares of stock?
4. What advantages does incorporation give to shareholders and to the company?
5. What disadvantages does incorporation give to shareholders and to the company?

Partnerships 👥

🎯 Learning Targets

• Explain how general partnerships and limited partnerships differ
• Describe the advantages of organizing a partnership
• Describe the disadvantages of organizing a partnership

⏰ What We Did

• Collected Tuesday's "Lesson 1 Lesson Review"
• Returned and discussed Monday's "Understanding Graphs" assignment
• Used the instructional notes from Lesson 2, Part 2 to answer the following questions in complete sentences:

1. Define partnership, general partnership, and limited partnership.
2. Compare general and limited partnerships. Would you rather be a general partner or a limited partner? Explain your answer.
3. Why might two or more people agree to become partners in a business?
4. What challenges do partnerships face?

💻 Homework

• Watch and take notes on Lesson 2, Part 3: Corporations, before class tomorrow

Movie Day 📽

⏰ What We Did

• Went to the CHS Auditorium for a school-wide movie viewing

Inclement Weather — No School 🥶

Clintondale High School is closed due to inclement weather. Classes will resume on Friday, February 7, 2025, at 7:35 A.M.

Sole Proprietorships 🔧

🎯 Learning Targets

• Describe the advantages of establishing a sole proprietorship
• Describe the disadvantages of establishing a sole proprietorship

⏰ What We Did

• Watched and took instructional notes on Lesson 2, Part 1: Sole Proprietorships
• Used the instructional notes from Lesson 2, Part 1 to answer the following questions in complete sentences:

1. Define sole proprietorship, zoning law, liability, collateral, and longevity.
2. Why might someone organize their business as a sole proprietorship?
3. What are the main government restrictions on sole proprietorships?
4. What challenges does a sole proprietor face?

⚙️ Resources

• Lesson 2 Instructional Notes
• Lesson 2, Part 1: Sole Proprietorships

💻 Homework

• Watch and take notes on Lesson 2, Part 2: Partnerships, before class tomorrow

Lesson 1 Lesson Review 1️⃣

🎯 Learning Targets

• Review the key concepts covered in Lesson 1 of Economics

⏰ What We Did

• Discuss the answers to "Understanding Graphs"
• Took a quiz on Lesson 1, Part 2: Scarcity and Choice
• Began working on Lesson 1 Lesson Review

⚙️ Resources

• Economics ✮ Lesson 1 Lesson Review (LR-1)

Opportunity Costs 📉

🎯 Learning Targets

• Understand why sacrifice is an important element of economic choice
• Identify the assumptions involved in creating a production possibilities curve
• Determine why future production possibilities might differ from current production possibilities

⏰ What We Did

• Used instructional notes from Lesson 1, Part 3 to illustrate opportunity costs through production possibilities curves

⚙️ Resources

• Understanding Graphs (A-1)

Scarcity and Choice 🕳

🎯 Learning Targets

• Determine why scarcity exists
• Identify the issues that producers must address to distribute resources
• Explain why producers study productivity

⏰ What We Did

• Used the instructional notes from Lesson 1, Part 2 — taken before class — to answer the following questions in complete sentences:

1. Define scarcity, allocate, productivity, efficiency, division of labor, and specialization.
2. Why do people need to make choices about distributing resources?
3. What are the three questions that all economic systems address?
4. Why is productivity important to society?

💻 Homework

• Watch and take notes on Lesson 1, Part 3: Opportunity Costs, before class on Monday

An Economic Way of Thinking 🧠

🎯 Learning Targets

• Define economics
• Identify the factors of production
• Determine the goal of entrepreneurship

⏰ What We Did

• Watched and took instructional notes on Lesson 1, Part 1: An Economic Way of Thinking
• Used the instructional notes from Lesson 1, Part 1 to answer the following questions in complete sentences:

1. Define economics, consumer, producer, good, service, resource, factor of production, natural resource, human resource, capital resource, capital good, consumer good, technology, entrepreneur, and entrepreneurship.
2. What are the key influences on daily economic decisions?
3. Give one example of each of the following: natural resources, human resources, and capital resources.
4. Why might a person become an entrepreneur? What characteristics might someone need to be a successful entrepreneur?

⚙️ Resources

• Lesson 1 Instructional Notes
• Lesson 1, Part 1: An Economic Way of Thinking

💻 Homework

• Watch and take notes on Lesson 1, Part 2: Scarcity and Choice, before class tomorrow

Trivial Trivia ❓

Played a general trivia game, in order to keep Sixth Hour and Third Hour on the same schedule

Binder Organization 🗂

🎯 Learning Targets

• Students will become familiar with the organziational system of Economics

⏰ What We Did

• Assigned seats for Second Semester; Reviewed the classroom syllabus for Economics; Distributed and labeled five-tab dividers, discussing the purpose of each

⚙️ Resources

• Economics syllabus
• Economics Binder website

Records Day — No School 📂

Clintondale High School is closed for Records Day. The Second Semester will begin tomorrow, Tuesday, January 28, 2025, at 7:35 A.M.

Semester Assessment 💯

🎯 Learning Targets

• Assess comprehension of Lessons 1 through 8 in Civics

⏰ What We Did

• Completed the Semester Assessment

Cold Weather Advisory — No School 🥶

Clintondale High School is closed due to extreme cold. Classes will resume on Thursday, January 23, 2024, at 7:35 A.M.

Cold Weather Advisory — No School 🥶

Clintondale High School is closed due to extreme cold. Classes will resume on Thursday, January 23, 2024, at 7:35 A.M.