Day 3

With Your Group Members From Yesterday• Create/Write a “Cheer” About One or More of

the Following:• Definition of “resources”.• Definition of “scarcity”.• Everybody (individuals, businesses, and

countries) faces scarcity.

• Mr. Cook will lead the class in your cheer.• You have until eight minutes after the tardy bell

to compose your cheer.• Best cheer wins candy (good candy).

Seating Chart 1st Period Front of Class

Chad Seth Danielle

Zack Michael Baggott

Kyle Kendall Matth Nicole Arron

Hillary Michael Brannen

Shannon Lacey Haley Virginia Brandon

Teacher Desk/ Work Area

Erin Morgan Taylor Aric

Seating Chart 2nd Period Front of Class

Megan Justin Xavier Andrew

Paige Cyndilee Chris Charlee Ryan Stacey

Amanda Chelsea Brett Jessica Tim Courtney Kylie

Teacher Desk/ Work Area

Forrest Lacey Alison Jordan Avery

Daniel Morgan

Seating Chart 4th Period Front of Class

Dee Dee Moriah Kristen Kayla Jade (Empty)

Drew Steven Kara Amber Bethany Emily Kevin

Harley JD Courtney Nick Sonia David Melissa

Teacher Desk/ Work Area

Jordan Edwards

Jonathan Jordan Marin

Andre’ Mandie Lauren

Kayla Daylan Catherine Phillip Justin

Raven Ryne Maggie Kelsea

Same Groups as Yesterday

But Switch Roles!

Group Assignment Part 1

• Sort your cards into categories.• Name each category.• Write down your items next to your

categories.

Group Assignment Part 2

• Consider the two pictures.• Write down:

– 1) What the pictures are of.– 2) What they have in common.

What Are They?What Do They Have In Common?

What Are They?What Do They Have In Common?

What Are They?What Do They Have In Common?

Notes

Write Them Down

With Your Groups

• Write down the three factors of production.

• Think of everything needed to make pizzas at Papa John’s.

• List things needed to make pizzas under each factor of production.

Clicker Training

Clicker Quiz to Follow

1) Which of the following best represents a capital investment in a carpet cleaning business?

• A) renting commercial office space

• B) marketing the business

• C) purchasing carpet cleaning equipment

• D) hiring ten employees

2) What basic economic problem do both higher-income nations and lower-income nations have

in common?• A) too many unskilled laborers

• B) lack of capital goods

• C) too much government

• D) scarcity of resources

3) Which of the following is an example of an investment in

human capital?

• A) A company builds a new factory.

• B) A state puts in a new highway.

• C) A person goes to college.

• D) A country builds new schools.

4) Which of the following is a human capital resource that Ms. Kronhorst could use for her art

gallery?• A) light fixtures to help display the work

• B) a security guard to protect the artwork

• C) knowledge of trends in modern art

• D) a series of paintings by a prominent local artist

5) In order to build a skyscraper,Builders Inc. hires 400 constructionworkers and 50 managers. Which

factor of production is being paid for?

• A) land

• B) labor

• C) capital

• D) entrepreneurship

What do we use our scarce resources for?

• We try to maximize benefit/pleasure with our scarce resources.

• Does this always happen?

• Article