This activity is to expose students to other types of currency of Spanish speaking countries. Students will practice the numbers in Spanish and will use adjectives to describe items that they can sell and buy.
Students learn about the many types of expenses associated with building a bridge. Working like engineers, they estimate the cost for materials for a bridge member of varying sizes. After making calculations, they graph their results to compare how costs change depending on the use of different materials (steel vs. concrete). They conclude by creating a proposal for a city bridge design based on their findings.
This is a short description of the differences in business between cost and price, as well as consumer and business customer. These terms are often confused.
In this activity, students are going to practice asking for the cost of something and practice purchasing items. Students are also going to be exposed to the concept of bartering and how to do it with a vendor.
A public interest group claims that pharmaceutical companies overstate the costs of developing drugs because they include the foregone earnings from the money invested in drug development. The story can be used to discuss the concepts of opportunity cost and normal profit.
Principles of Macroeconomics 2e covers the scope and sequence of most introductory economics courses. The text includes many current examples, which are handled in a politically equitable way. The outcome is a balanced approach to the theory and application of economics concepts. The second edition has been thoroughly revised to increase clarity, update data and current event impacts, and incorporate the feedback from many reviewers and adopters.Changes made in Principles of Macroeconomics 2e are described in the preface and the transition guide to help instructors transition to the second edition.
In this Unit, you will learn about:How Individuals Make Choices Based on Their Budget ConstraintThe Production Possibilities Frontier and Social ChoicesConfronting Objections to the Economic Approach
By the end of this section, you will be able to:
Interpret production possibilities frontier graphs
Contrast a budget constraint and a production possibilities frontier
Explain the relationship between a production possibilities frontier and the law of diminishing returns
Contrast productive efficiency and allocative efficiency
Define comparative advantage
Students use real-world data to evaluate whether solar power is a viable energy alternative for several cities in different parts of the U.S. Working in small groups, they examine maps and make calculations using NREL/US DOE data from the online Renewable Energy Living Lab. In this exercise, students analyze cost and availability for solar power, and come to conclusions about whether solar power is a good solution for four different locations.
Students learn about the major factors that comprise the design and construction cost of a modern bridge. Before a bridge design is completed, engineers provide overall cost estimates for construction of the bridge. Students learn about the components that go into estimating the total cost, including expenses for site investigation, design, materials, equipment, labor and construction oversight, as well as the trade-off between a design and its cost.
In this activity, students are going to practice asking for the cost of something and practice purchasing items. Students are also going to be exposed to the concept of bartering and how to do it with a vendor. This activity will teach students more about questions, prices, money, numbers, and items that are frequently purchased.