Analyze your findings. What are the implications of the rankings in terms of policy decisions these people will make that might affect your life? Handouts and Supplemental Materials. Lesson Purpose: As we move into macro-economics, the study of the operations of the economy as a whole, it is important to remember that scarcity extends beyond the decision-making of individuals in households and businesses.
Key Terms: scarcity trade off opportunity cost macroeconomics marginal Content Standards: Standard 1: Students will understand that Productive resources are limited. Benchmarks: grade 8: Like individuals, governments and societies experience scarcity. Choices involve trading off the expected value of one opportunity against the expected value of its best alternative.
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The choices people make have both present and future consequences. The evaluation of choices and opportunity costs is subjective; such evaluations differ across individuals and societies. Benchmarks: grade Governments provide an alternative method to markets for supplying goods and services when it appears that the benefits to society of doing so outweigh the costs to society.
Not all individuals will bear the same costs or share the same benefits of those policies. Session Objectives : Introduce and define the generally accepted list of national economic goals.
Equity and Efficiency in Educational Finance: An Operational Conundrum
Tie to scarcity, trade-off, marginal decision-making. Participate in a consensus-building exercise to rank economic goals in order of importance. Consider how command and traditional economies rank goals differently from market economies. Discuss the relationship between goals and policy, and the implications of the lack of goal consensus for policy formation.
Repeat the consensus-building exercise in specific policy contexts. Discuss the implications of changing goal priorities for policy formation and for consensus. Economic goals are not always mutually compatible; the cost of addressing any particular goal or set of goals is having fewer resources to commit to the remaining goals.
Evaluation of the importance of relative importance of economic goals is subjective. Perceptions of the relative importance of economic goals changes with time and circumstance. Scarcity impacts our ability to translate national economic goals into policy. Trade-offs in addressing national economic goals occur at the margin. Policy decisions are rarely all-or-nothing decisions. Governments do not have economic goals.
All economic systems have the same goal priorities.
Study on Equity and Efficiency of Health Resources and Services Based on Key Indicators in China
If politicians made better decisions, we could achieve all our economic goals. Combining techniques from several disciplines, this work provides an accessible discussion of a central topic in political theory and normative economics. David Saari provides an extended essay on the nature of freedom in contemporary America, its historical roots, and its present-day Please note that the Lexile measures for a small population of books have been recently updated.
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- The Art of Richard Thompson.
- The Thyroid Hormones;
Overview This book defends equality against the objection that, due to its failure to provide incentives, it must conflict with either freedom or efficiency, or both. About the Author T.
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