Title: 3 Economic Questions

Write down the

Essential Question.
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
Think / Write / Share
What types of things do you think the Inuit
need to consider regarding their survival?
How do you think they manage their
resources?
Do you think the Inuit survive through
individual effort, or community effort? Why?
How does their experience differ from ours?
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
Think/Write/Share


How would you describe each scene?
Who or what determines what consumers
get in each cartoon?
What advantage / disadvantage do you see
with each?
Because resources are scarce, every
society and nation has to answer 3 core
economic questions.

What to produce?
How to produce?
For whom to produce?

Think/Write/Share Give me 2 examples
you think would fall into each category
(What How Whom)
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
Question 1: What Will Be
Produced?

Societies must decide on mix of goods
to produce
depends on their natural resources
Some countries allow producers and
consumers to decide
In other countries, governments
decide
Must also decide how much to
produce; choice depends on societies
wants
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
Question 2:
How Will It Be Produced?
Production decisions involve using
resources efficiently
Influenced natural resources

Societies adopt different
approaches
labor-intensive methods versus capital-
intensive methods depends on
availability
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
Question 3:
For Whom Will
It Be Produced?

How goods and services are
distributed involves two
questions
how should each persons
share be determined?
how will goods and services
be delivered to people?
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
You are the leader of a small war torn village
in Europe (circa 1800) that had to relocate
because of fighting. With limited supplies and
tools, you move your 300 villagers to a
forested region that has good water access
(rivers and lakes). The only problem is that
winter is fast approaching.

Examine the 3 basic economic questions for
this society.
What to produce?
How to produce?
For whom to produce?
AB group discussion. (3 minutes)
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
0 5 Utility -
Utility is the satisfaction or pleasure one
gains from consuming a
product/service/resource.
Utility = Use

Think / Write / Share
What would cause utility to change from one
region of a country to another? From one part
of the world to another?
What products or resources can you think of
that will change how a product/service/resource
is used?
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?

Think / Write / Share
Analyze the images above. How is the resource
in the middle used differently in the images on
the left and right? What factors are behind this
difference?
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?

Think / Write / Share
Analyze the images above. How is the resource
in the middle used differently in the images on
the left and right? What factors are behind this
difference?
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?
2 minutes

On the right hand side of your
notes please answer the essential
question:





Closure
Objective (What?) SWBAT
identify and explain the 3
basic economic questions
every society must face,
and compare how utility
differs from one region to
another.

DOL (how?) Given an exit
card, 100% of students will:
1. List the 3 basic questions
and provide 2 examples for
each. 2. Given two
resources, compare how
utility differs from one
region to another.

Why?: understanding
scarcity of resources and
how societies use these
resources is key to
understanding economics.
Standards: Econ 3.1.a

EQ: What 3 economic questions do all societies face, and why are they important?