APMic Unit 1 Lesson 1 - Ten Principles of Economics (Module 1) by jclerch https://padlet.com/jclerch/bzxdn5yw1zz7 Basic Economic Concepts en-us 2016-10-03 21:06:04 UTC 2025-05-08 15:58:04 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/135439946/3db90c9f43ef8043c170061d2186eb6c/IMG_12291_1mb.png jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/180152706 2017-08-04 22:08:23 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/180152706 Questions jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/245873794 1. Do the first four principles (dealing with the individual) reflect reality? What principle would you add here about how individuals engage in the economic way of thinking? 

2. What is the best way for individuals to interact to exchange goods and services with each other? 

3. How can government help to make sure that individual interactions are done in the “best” way possible?

]]> 2018-03-25 19:57:44 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/245873794 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/272065823 2018-08-06 11:29:26 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/272065823 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/272661032 2018-08-10 18:11:55 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/272661032 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/273814540 2018-08-17 20:35:45 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/273814540 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/274209402 2018-08-21 03:09:59 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/274209402 Rational Thinking? jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/293027221 Think we are rational? Maybe not. Listen to Alex Laskey explain a proven way to change behavior that is arguably irrational.]]> 2018-10-15 19:12:34 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/293027221 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/341632705 2019-03-15 06:43:13 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/341632705 What Can You Do With An Economics Degree? jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/354805842 2019-04-28 19:10:59 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/354805842 Opportunity Cost jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/356392715 2019-05-02 20:22:01 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/356392715 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/370871268 2019-07-11 14:19:19 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/370871268 Enduring Understanding jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372198128 The production possibilities curve (PPC) model is used to demonstrate the full employment level of output and to illustrate changes in full employment.

Most resources are scarce, and in most cases the use of resources involves constraints and trade-offs.]]> 2019-07-24 21:24:30 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372198128 Learning Objectives jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372198159 Define scarcity and economic resources.

Define how resource allocation is influenced by the economic system adopted by society.]]> 2019-07-24 21:25:11 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372198159 Essential Knowledge jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372198198 Individuals and societies are forced to make choices because most resources are scarce.

Resource allocation involves answering three basic questions: What goods and services to produce? How to produce those goods and services? And who consumes those goods and services?

Resource allocation is significantly influenced by the economic system adopted by society, such as command economy, market economy, or mixed economy. Each system involves a particular set of institutional arrangements and a coordinating mechanism for allocating scarce resources and distributing output.
]]> 2019-07-24 21:25:42 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372198198 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372410944 2019-07-26 20:16:34 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372410944 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372414015 2019-07-26 21:26:04 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372414015 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372938829 Incentives anyone?]]> 2019-08-01 12:05:49 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/372938829 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/374880231 2019-08-15 20:37:53 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/374880231 Behavioral Economics jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/374884833 It turns out we are not nearly as rational as Homo Economicus is portrayed. ]]> 2019-08-15 21:02:21 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/374884833 Hidden Brain Podcast jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/427027069 Application - In this episode, you can listen to what scarcity does to a person in real life.]]> 2019-12-29 20:23:07 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/427027069 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/427258168 2020-01-02 03:36:53 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/427258168 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/429662933 2020-01-09 19:06:39 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/429662933 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/437497004 2020-01-29 12:37:44 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/437497004 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/493397357 2020-04-05 16:07:31 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/493397357 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/681587667 2020-08-16 00:00:35 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/681587667 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693468964 2020-08-23 18:13:27 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693468964 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693469088 2020-08-23 18:13:43 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693469088 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693477545 2020-08-23 18:32:01 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693477545 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693477616 2020-08-23 18:32:12 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693477616 jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693477746 2020-08-23 18:32:30 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693477746 Scarcity jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693536422 2020-08-23 20:23:36 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693536422 Resource Allocation and Economic Systems jclerch https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693536768 2020-08-23 20:24:28 UTC https://padlet.com/jclerch/bzxdn5yw1zz7/wish/693536768