Beginning of the End

Your FINAL Quarter of High School (well, for most of you at least).  We started the day by defining the following terms as succinctly as possible:

Economics                                Demand                         Equilibrium

Markets                                   Supply                            Shortage

Opportunity Cost                            Price Effect             Surplus

Resources (types of)                      Shift in

                                                         Elasticity

We then watched the third segment of Freakonomics: "It's Not Always A Wonderful Life" explores the question of what led to a decline in the urban crime rate in the US during the mid- to late 1990s. The authors of Freakonomics suggest that a substantial factor was the 1973 US Supreme Court case, Roe v. Wade, in the US which permitted people to have legal abortions, leading to more wanted children with better upbringings.

I concluded the day by reminding you that there are still about 38 days of class left...so do not stop now.