Are you looking for an engaging and diverse lesson that hits multiple intelligences and gives your students an opportunity to practice calculating production possibilities and opportunity cost? This is the activity you've been looking for!
This activity includes:
1) This "Production Possibilities" Activity includes 3 parts. It begins with a graphic organizer that asks your students to define production possibilities, the factors that answer the question of which production possibility to choose in society, and the concept of "ceteris paribus" and how it impacts economic analysis. Next, students will have a chance to put principles into practice by calculating opportunity cost using several production possibilities schedules provided . Finally, students will use their knowledge and a collection of data provided to practice calculating PER UNIT opportunity cost of production at several production possibilities points.
This activity can be used in many different ways in the classroom. Students can work independently, in pairs or this activity can be used as a jigsaw in order to facilitate a class wide discussion about the topics discussed in the activity.
2) A detailed answer key to the lesson activity to save you time and help guide student comprehension.
This activity can also be found in a bundle paired with a PowerPoint, Keynote and PDF version of a fully customizable lecture found here:
Production Possibilities Bundle
If you like this activity, check out our Unit Activity Bundle that includes activities for all of the objectives in this unit.
Introduction to Economics Unit Activity Bundle
Best of all, this activity aligns to our "Topic 1.4 - Production Possibilities" video lecture, which can be found here:
Topic 1.4 - Production Possibilities
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