1 CLIL - teaching economics in english (4 H).pdf

Transcript

1. Economy: the study of how society uses its scarce resources. Scarcity: Supplies of the factors of production are not unlimited Factors of Production The ingredients of economic activity: land, labour, capital and enterprise Basic economic concepts Domanda: tutto ciò che è scarso ha valore economico ed è monetizzabile? Domanda: perchè l'impresa (ossia l'imprenditore) sarebbe un fattore della produzione? Translate your answers in English, please
2. 1. Economic growth: Economic growth means that the incomes of all consumers and firms (after accounting for inflation) are increasing over time. 2. Full employment: The goal of full employment is that every member of the labor force who wants to work is able to find work. Unemployment has to be as low as possible. 3. Price stability: The goal of price stability is to prevent increases in the general price level known as inflation, as well as decreases in the general price level known as deflation. Goals of Economy Domanda : I redditi di consumatori da dove vengono? E i redditi delle imprese? Domanda : E' più importante tenere i prezzi bassi o avere meno disoccupazione? Perchè? Translate your answers in English, please
3. Opportunity costs Opportunity costs are opportunity lost. The cost of a choice is the value of the best alternative activity not done. PLAY 2 4 6 8 10 12 14 16 WORK 16 14 12 10 8 6 4 2 curve of opportunity costs shows what is possible in combining both resources C C is the combination of work and play choosen. 12 h of work and 4 h of play
4. Opportunity costs Opportunity costs are opportunity lost. The cost of a choice is the value of the best alternative activity not done. PLAY 2 4 6 8 10 12 14 16 WORK 16 14 12 10 8 6 4 2 A. very poor combination of work and play B. not possible combination of play and work curve of opportunity costs shows what is possible in combining both resources C
5. Opportunity costs Opportunity costs are opportunity lost. The cost of a choice is the value of the best alternative activity not done. Question: what is the opportunity cost if I choose the alternatives in C? PLAY 2 4 6 8 10 12 14 16 WORK 16 14 12 10 8 6 4 2 A. very poor combination of work and play B. not possible combination of play and work curve of opportunity costs shows what is possible in combining both resources C
6. Opportunity costs: exercises The government decides to spend 30 billion of Euros on defense and 40 billion of Euros on education. Plot this combination on the diagram you will do on your exercise book and put the letter A for this choice. After this say what would be your choice if you were the government and put the letter B for it on your exercise book (write the answer in italian and then translate it in English). DEFENCE (billions) 10 20 30 40 50 60 70 80 90 100 EDUCATION (billions) 100 90 80 70 60 50 40 30 20 10
7. Production possibilites frontiers (PPF) Opportunity costs are opportunity lost in production too, let's see the diagram below: 2000 4 000 6 000 8 000 10000 12 000 14 000 16000 Unities of good 1 16000 14000 12000 10000 8000 6000 4000 2000 Unities of good 2 Every production is possible along the PPF curve like in C. You can't produce in A or you produce less than possible in B B. A. C
8. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY
9. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY
10. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY
11. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY Rents Interests Wages
12. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY Rents Interests Wages Goods and Services
13. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY Rents Interests Wages Goods and Services
14. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY Rents Interests Wages Goods and Services
15. Circular flow of money LAND CAPITAL LABOR FIRMS HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY Rents Interests Wages Goods and Services SELLING SELLING BUYING BUYING
16. Circular flow of money LAND CAPITAL LABOR HOUSEHOLDS RESOURCE MARKET PRODUCT MARKET GOALS OF FIRMS GOALS OF HOUSEHOLDS MONEY Rents Interests Wages Goods and Services profits utility
17. Circular flow of money Domande: Quali sono i dieci beni che più desideri acquistare? Traduci in inglese l'elenco che farai Conosci dei beni venduti a distanza dalle imprese? In che modo? Traduci in inglese le tue informazioni in proposito Quali le risorse energetiche per l'impresa? Traduci in inglese la risposta True or false?: A) Firms are producing lands B) firms are paying wages C) Householders would like to make profit D) Firms are producing lands H) utility is what households wants F) Capital produces rents G) supplying work help the firm to produce E) firms are paying wages I) Capital produces rents