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. How do we show opportunity cost on
a graph?

3. Production Possibility Practice
1. What is the opportunity cost of moving
from point W to Z?
W
Z
G

4. Production Possibility Practice
2. What is the opportunity cost of moving
from point G to W?
W
Z
G

5. 3. What is the opportunity cost of
moving from point 4 to 5?

6. 4. What is the opportunity cost of
moving from point 3 to 2?

7. 5. What is the opportunity cost of
moving from point B to C?

8. 6. What is the opportunity cost of
moving from point E to C?

9. 7. What is wrong with point D?

10. 8. What is wrong with point C?

11. 9. What caused this PPF to shift out?

12. 10. Which of these points are possible?

13. 11. What is the opportunity cost of
moving from point Z to W?
W
Z

14. 12. What is the opportunity cost of
moving from point W to Z?
W
Z

15. Why?
3 reasons
negative

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. 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