What might that suggest about the economic problem? Download a copy of the following glossary template linked here and write definitions of the words we have used so far, i.e. everything to and including 'Marginal utility'. Use your textbook for the definitions... never just Google it as you need to learn proper IB definitions!! Soon you will have a 10 word vocabulary test (formative). After you finish that, write a paragraph explaining the economic problem and the three questions which need to be answered by any economic system. Rewrite your "Economics is the study of.... " card then film yourself reading both original and new sentences and post here to Flipgrid https://flipgrid.com/91f62d
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Walk and talk.... discuss the questions you are given.... then come back for debriefing and a worksheet to complete. The following document is about the difference between positive and normative statements... read it and do the quick exercise at the end. positive_normative.pdf Download File So what is Economics all about... listen to the song and then watch the YouTube clip... The song and video are based on Greg Mankiw's 10 Principles of Economics... but what does each statement mean? Discuss with a partner.
How People Make Decisions
How the Economy Works as A Whole
How People Interact
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March 2021
Maree SpraggonTeacher of IB Economics at the American School of Budapest Categories |