Vocabulary for Project



Unit 1 - Basic Economic Concepts

Team Vocabulary Project

The following is a partial list of terms and concepts you will be learning in Unit 1 (Chapters 1 - 3). Every term listed below must be included in your picture book. Do not use the textbook definition – make sure you use them in context and provide pictures to demonstrate your understanding of these important concepts.

Your Task: You and your partners (groups of up to 3 people) are to use and present these vocabulary terms/concepts in an unusual and creative way in a picture book. You may hand draw your book or create a digital book that is printed out.

Need

Want

Incentive

Opportunity Cost

Trade-Off

Scarcity

Land

Capital

Financial Capital

Labor

Entrepreneur

Good

Service

Input

Output

Productivity

Economy

Utility

Wealth

Paradox of Value

Market

Standard of Living

Profit Motive

Competition

Consumer Sovereignty

Free Enterprise

Economic Growth

Your grade will be determined according to the following criteria – see grading rubric on back of this sheet.

1. Your project contains all of the vocabulary words from the above list

2. You turn in your project in a tangible written form for grading

3. Your project demonstrates a clear understanding of the meaning, context and proper usage in Economics of each of the words. Using definitions from the text book will cause you to lose points.

4. Your project shows creativity and is well-organized and neat.

5. Your project shows intrinsic motivation, was well-planned and shows a substantial amount of time spent on preparing.

| |

|Topic: Basic Economic Concepts |

|TEKS: 24) Social studies skills. The student communicates in written, oral, and visual forms. |

|The student is expected to:(A) use social studies terminology correctly; |

| |

|Grade 12 |

|Score 4.0 |In addition to Level 3.0, student exhibits understanding of basic economics concepts above and beyond what was explicitly |

| |taught by associating terminology with previous knowledge and applying to real world situations. |

| |Student shows exceptional creativity. |

|Score 3.5 |Partial success at applying concepts to real world situations. |

| |Engaging and creative book. |

|Score 3.0 |Project contains all vocabulary terms and demonstrates a clear understanding of meaning and context of basic economic |

| |concepts. |

| |Presentation is entertaining and informative. |

| |Project shows creativity, and is well-organized and neat. |

|Score 2.5 |Some terms are used successfully in context, but not all words are used correctly. |

|Score 2.0 |Project contains the majority of required terms. |

| |Student can define terms correctly, but not use them in context or demonstrate understanding. |

| |Project is turned in at assigned time. |

| |Project is well-organized and neat. |

|Score 1.5 |Project contains some terms correctly defined. |

| |Project is disorganized. |

| |Project is presented late. |

|Score 1.0 |With help, student can define terms. |

|Score 0.0 |Project was not turned in. |

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