Transcript Laissez
Warm-Up: Stock Market Review 1. _________ – unit of ownership in a company 2. _________________ – a place for trading stocks 3. Goal is to sell stock for ________ than you paid for it 4. The ___________ for a stock makes its value go up and down 5. __________ – money gained from a _________ in stock value 6. __________ – money lost from a ________ in stock value 7. ______ market – market where most stock values are going up 8. ______ market – market where most stock values are going down 9. Margin buying – buying stocks with ________________________; risky 10. _____________ – buying and selling stocks to make a quick profit; high risk but chance of high reward THE GREAT DEPRESSION Today’s Episode: So How Bad Is It Really Right Now? Learning Target 1: Gov’t Policy prior to the Great Depression Warm-up: Discuss with the person closest to you 1. 2. T/F: We are currently in a recession Use the root word of recession to explain what it is Warm-up: Are we still in a recession today? Use the graph to WRITE an answer. How do you know? Real GDP (Gross Domestic Product) = total value of the economy Economy Etymology: derived from Greek oikonomos "household manager," from oikos "house" and nemein "to manage" ECONOMY The production, distribution, and consumption of things you can buy Production: Distribution: Consumption: How might this news story be related to the economy? Examples of ECONOMY 1. 2. 3. The war altered the country's economy by… An increase in tourism will help the city's economy (How?) Create your own example showing you understand the definition. Private vs. Public What’s the difference? Can you think of an example? Private vs. Public Private Controlled by the people Public Controlled by the gov’t Laissez faire anticipatory set You’ve got work to do when you get home. Chores, homework, etc. Do you work better with mom or dad checking in, staying on top of you, or is it better when they leave you alone? Do your habits change based on their presence? Teacher gives class a list of learning targets and tells you to teach yourself and be ready to take a test on Friday. What happens? Coach says to practice on your own in preparation for a game/meet. What happens? What factors determine the outcome? (e.g. common goal, motivation re: goal) Why do they do what they do? Does it ever annoy you? Business has an objective, work to do. In 1920s, the parents/teacher/coach/gov’t let the kids do what they wanted under the assumption that things would work out Regulation Policy Laissez faire article Working together Closure • • Flow chart review Share three things you learned with the person closest to you, no repeats THE GREAT DEPRESSION Today’s episode: Hands Off My Economy, Dude LT 1: Gov’t Policy prior to the Depression Icebreaker Get a name and answer to the following question from three people you do not know If you could eat only one food/dish for the rest of your life, what would you get? Warm up… Answer on your laissez faire handout from yesterday in the economy section: write your own example of a sentence using the word “economy” correctly. Jot down an example of something in the private sector and something in the public sector of the economy Laissez faire is the government’s economic policy prior to the Depression Laissez faire – hands off Whose hands? Off what? Gov’t Policy prior to the GD: Laissez-faire Laissez-faire Economic policy meaning hands-off – government chooses NOT to get involved in the economy Based on belief that government spending will increase economic trouble [Why? Reps vs. Dems] Was the government’s economic policy of the 1920s Led to economic boom but lack of gov’t regulation [control] allowed for risky actions in business (e.g. margin buying, speculation) Closure Write one example from your life where laissezfaire might be a good policy and one that might not work so well. Example: Mr. Stone and my class Pros and cons of regulation