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Economics
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Economics Multimedia Text Set>
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Domain-Specific Vocabulary
Day 1 - Needs vs. Want
Budget-a plan for managing
money
Income-the money you make
(salary ) for doing work
Expenses-things you spend
your money on.
fixed expenses-recurring
expenses month to month
Variable expenses-items that
change price month to month
Debt-owing money to
someone
Needs
Food
Water
Shelter
Air
clothes
Wants
Money
A big house
A phone
Electronics
Candy
100 dollars.
Day 10 - Interdependence
String Activity
Interdependence-Countries
are dependent on one
another for goods and
services.
Day 11 - Types of Economies
Market Economy
What is a Traditional
Economy?
Command vs. Market
Economy
Mixed Economies
1) Choose a job
2) Salary - $___________
3) Research job description & necessary
education requirements
1) Choose a car
2) Determine which payment plan works with
your monthly budget
Work in class
Work in class