All resources in OER Fundamentals Fall 2023 - Rural Arizona

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ECONOMICS FOR ALL GRADE 11 - THE CIRCULAR FLOW

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This is an Economics Grade 11 e-learning course that will be only focused on one module: the circular flow. Learners are expected to bring their prior grade 9 and 10 knowledge on the circular flow as it will be needed for grade 11 knowledge building. On this particular module, learners will be required to:Define the concept 'circular flow'Compare open and closed economyGive examples of participants that fall in either open or closed economyDifferent between factors market and product market

Material Type: Activity/Lab, Assessment, Case Study, Full Course, Homework/Assignment, Reading

Author: Hlengiwe SENOSI

Scarcity

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Dealing with scarcity is the basis of economics, but what does it mean to say that something is scarce? In this video, we explore the definition of scarcity in economics and how scarce resources are different from free resources.

Material Type: Lesson

Author: Sal Khan

Production Possibilities Curve as a model of a country's economy

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In this video, Sal explains how the production possibilities curve model can be used to illustrate changes in a country's actual and potential level of output. Concepts covered include efficiency, inefficiency, economic growth and contraction, and recession. When an economy is in a recession, it is operating inside the PPC. When it is at full employment, it operates on the PPC.

Material Type: Lesson

Author: Sal Khan

Long run self adjustment

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A demand shock has a short-run effect on an output and unemployment, but in the long run only the price level will be impacted. If there is an increase in aggregate demand, the price level will go up. Once wages have adjusted to that inflation in the long run, SRAS decreases and returns the economy to full employment output. Shocks do not cause economic growth, only changes in full employment output cause economic growth.

Material Type: Lesson

Author: Sal Khan

Rent control and deadweight loss

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Price controls have the potential to reduce total surplus. In this video we step through some details on how one kind of regulation, a price ceiling, can reduce economic efficiency. A real world example of a price ceiling is rent control, which some cities have experimented with as a way to control rising housing costs. Created by Sal Khan.

Material Type: Lesson

Author: Sal Khan

Deriving demand curve from tweaking marginal utility per dollar

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Where does a buyer's demand curve come from? A rational buyer wants to get as much "bang per buck" from their consumption as possible. In economics, that's called marginal utility per dollar spent. When the price of a good decreases, the "bang per buck" on that good increases, which incentivizes consuming more of it. In this video, we derive the individual's demand curve for a good by tweaking the marginal utility per dollar spent. Created by Sal Khan.

Material Type: Lesson

Author: Sal Khan

Cartography | Indigi-Genius

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Cartography is the art and science of graphically representing a geographical area on a flat surface such as a map. For Indigenous peoples, cartography is more than just topography or mapping locations. For many Indigenous communities, it's about values, culture and traditional understandings.

Material Type: Lecture

Author: PBS Learning Media

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