Practice pp fs and travistan

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Practice pp fs and travistan

  1. 1. Bellringer on your “white board” on set of answers per group 1. Give an example of each factor of production if I want to make a pencil 2. How do we show opportunity cost on a graph?
  2. 2. How do we show opportunity cost on a graph?
  3. 3. Production Possibility Practice 1. What is the opportunity cost of moving from point W to Z? W Z G
  4. 4. Production Possibility Practice 2. What is the opportunity cost of moving from point G to W? W Z G
  5. 5. 3. What is the opportunity cost of moving from point 4 to 5?
  6. 6. 4. What is the opportunity cost of moving from point 3 to 2?
  7. 7. 5. What is the opportunity cost of moving from point B to C?
  8. 8. 6. What is the opportunity cost of moving from point E to C?
  9. 9. 7. What is wrong with point D?
  10. 10. 8. What is wrong with point C?
  11. 11. 9. What caused this PPF to shift out?
  12. 12. 10. Which of these points are possible?
  13. 13. 11. What is the opportunity cost of moving from point Z to W? W Z
  14. 14. 12. What is the opportunity cost of moving from point W to Z? W Z
  15. 15. Why? 3 reasons negative
  16. 16. In your groups • You are members of the financial ministry of the country of Travistan • Create a budget for FY 2014 • Smog level 100 million particles per square inch Reducing pollution would increase tourism and create thousands of new jobs Travistan
  17. 17. NAFTA is 20! 1. Does the author think NAFTA has been a success? Back up your answer with evidence. 2. Which country has gained most from the trade deal? 3. What are the three suggestions for NAFTA in the future? 4. Which do you think is the most important and explain why? 5. What 3 types of goods does Mexico have a comparative advantage in producing? 6. Based on the experience of NAFTA should free trade be expanded all the way to Argentina and Brazil? Explain

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