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Limits, Alternatives, and Choices: The Economic Perspective
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| Organization: | Wolfram Research, Inc. |
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Precollege
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Students will learn about Economic tradeoffs involved with choices, relative terms, and some calculations involved with the concept. At the end of this lesson, students will be able to do the following: - Describe the relationships presented by the budget line
- Describe the relationships presented with the Production Possibilities curve.
- Calculate a table and display a Production Possibilities curve
This notebook covers topics that fulfill the following NCTM standards: - Grade 6-8: Connections: Recognize and apply mathematics in contexts outside of mathematics
- Grade 9-12: Connections: Recognize and apply mathematics in contexts outside of mathematics
- Grade 9-12: Representation: Use representations to model and interpret physical, social, and mathematical phenomena
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Introduction to Economics, Production Possibilities Curve, Budget Line, Economic Trade-offs, Micro-Economics, Macro-Economics, Scarcity, Choices, Law of Increasing Opportunity Cost, Elementary School, Middle School, High School, Precollege, NCTM
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http://www.wolfram.com/solutions/precollege
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| ProductionPossibilitesCurve.nb (253.7 KB) - Mathematica Notebook |
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