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Economics Unit 1 Lesson 4 Teacher’s name: Mr. Jurado

Market Economy Lesson Date and Time: 3/7/12 Ch2 Sec 2: The Free-Market

What is the lesson objective? Students will be able to explain why how the free market economy works and how its used in our everyday lives. Anticipatory Set: The Students will watch the CNN daily news and comment on the story that has to do the most with economics and share with the class. Teaching/Instructional Process/ Independent Practice: Short lecture/Discussion on Chapter 2 Section 2: The Free Market Assignment – the students will answer the following questions while watching a short video of the show recess. While you watch the video write down an example of the term in the story of the episode. ANSWER IN FULL SENTENCES! NO ONE WORD ANSWERS! In the cartoon…. 1.What is the market? How? 2.What is an example of Specialization? How? 3.Who would be part of the household? Why? 4.What is an example of a firm? how? 5.What is an example of a profit? how? 6.What is an example of self-interest? how? 7.What is an example of an incentive? how? 8.What is an example of competition? how? 9.What is an example of consumer sovereignty? How? 10. What were two of the problems you noticed with the Market Economy? Guided practice and monitoring: I will check for understanding with questions through out the lecture and discussion as well as walk around to monitor their progress in the assignment. Closure: To Close I will ask the students to answer the following question, What were some of the problems you noticed from the Market Economy? Standards addressed TEKS 1A, 1B, 5B, 12A, 16B, 22A, 16B, 22A, 23A, 23B, 23F, 24D, 26A, 26B


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