2. ___________________

3. ___________________

2. Scenario: Jordan has a free Saturday night and must choose between: (1) studying for economics, (2) working a shift for $60, or (3) attending a concert. Jordan chooses the concert. Studying was the preferred "next-best" choice. Identify Jordan's Opportunity Cost and Trade-Offs:

Opportunity Cost:

All Trade-Offs:

3. Explain the difference between scarcity and shortages:

Unit 1 Foundations Exam Page 1 of 2

Part IV: Production Possibilities Curve Graph Analysis (10 points)

Refer to the PPC graph below and answer the following questions based on slide concepts.

SOCIETY'S PRODUCTION MODEL X Y Z Product A Product B

1. Which letter point represents an inefficient underutilization of resources?

Explain briefly what this means for factories or labor forces:

2. Which letter point represents an impossible/unattainable level of production?

Explain what must happen for a society to reach this production level:

3. If a society is producing at point X, what does moving along the curve to produce more of "Product B" require? Use economic terms like Trade-offs or Opportunity Cost in your explanation.

Part V: Case Studies - RACE Writing Responses (8 points)

RACE Strategy Required: Restate prompt, Answer clearly, Cite slide evidence, and Explain.

1. Henry Ford's introduction of the moving assembly line in 1913 transformed manufacturing. Identify which Factor of Production this specialized tool represents, and explain how it revolutionized production times. (Use RACE format)

2. Productivity is often described as "working smarter, not just harder." Based on Ford's success with the Model T, explain how doubling productivity can benefit consumers and improve their overall standard of living. (Use RACE format)

Unit 1 Foundations Exam Page 2 of 2

3. FOR WHOM to produce?

2. Scenario: Jordan has a free Saturday night and must choose between: (1) studying for economics, (2) working a shift for $60, or (3) attending a concert. Jordan chooses the concert. Studying was the preferred "next-best" choice. Identify Jordan's Opportunity Cost and Trade-Offs:

Opportunity Cost:

Studying for economics

All Trade-Offs:

Studying & working shift

3. Explain the difference between scarcity and shortages:

Scarcity is permanent, natural, and universal due to infinite wants vs. finite resources. Shortage is temporary, price-driven, and man-made (occurring when demand exceeds supply).

Unit 1 Foundations Key Page 1 of 2

Part IV: PPC Graph Solutions & Grading Criteria (10 points)

GRAPH REFERENCE (X = Efficient, Y = Under, Z = Impossible) X Y Z

1. Which letter represents inefficient underutilization?

Point Y. Wasted resources, idle capacity, or high unemployment. The economy is operating below its true capability.

2. Which letter represents unattainable production?

Point Z. Currently impossible. Society must acquire more resources (land, labor, capital) or improve productivity/technology to shift the curve outward.

3. Moving from Point X to produce more of "Product B" requires what?

Since Point X is on the curve (efficient), producing more of Product B requires a trade-off—we must sacrifice some amount of Product A. This sacrificed amount of Product A represents the opportunity cost of the decision.

Part V: Case Studies - RACE Writing Key (8 points)

Correct answers written using the REST, ANSWER, CITE, EXPLAIN (RACE) pattern.

1. Henry Ford's assembly line: Factor of Production & Time effect.

(R) Henry Ford's moving assembly line represents (A) the factor of physical capital, which revolutionized production times by creating standardized, rapid manufacturing flows. (C) According to classroom notes, this capital tool allowed Ford to drop car building times from 12 hours down to just 93 minutes per vehicle. (E) This shows that investing in specialized machinery drastically maximizes productivity because repetitive, stationary worker specialization eliminates idle transition time.

2. How doubling productivity benefits consumers and living standards.

(R) Doubling industrial productivity can benefit consumers and improve their overall standard of living (A) by lowering production costs and making products highly affordable. (C) In our study of the Model T, increased productivity allowed Ford to slash prices from $850 down to under $300. (E) This evidence shows that when businesses produce goods smarter and faster, savings are passed on to everyday families, democratizing ownership of vital goods and growing the consumer market.

Unit 1 Foundations Key Page 2 of 2

Host Tip:

Project this master page or print it out. Use tokens, dry-erase markers, or simple scratch paper to cross out completed squares as the teams claim them. Ensure answers use economics vocabulary.

Unit 1 Economic Showdown Master Guide Page 1 of 2

Classroom Game Rules & Team Tracker

Unit 1 Review Activity

How to Setup & Run

• 1. Divide the Class: Split students into 3-4 competing teams. Assign a scorekeeper or use the tracker below.
• 2. Selecting Questions: Teams take turns choosing a Category and Point Value (e.g., "PPC Graphing for 200").
• 3. The Countdown: Teams have exactly 45 seconds to whisper-deliberate and write down their answers on draft paper.
• 4. Point Rules: Correct answers gain the points. Incorrect answers allow other teams to press a buzzer to steal!

Showdown Variations

• • Double Jeopardy Blitz: In the final 10 minutes of class, double all point values to speed up the scoring and allow trailing teams to make a massive comeback!
• • Daily Double Spotlight: Secretly mark one square (e.g., *Trade-offs 400*) as a Daily Double where the selecting team can wager up to their entire current score.

Printable Team Scoreboard Tracker

TEAM 1

______ pts

TEAM 2

______ pts

TEAM 3

______ pts

TEAM 4

______ pts

Exam Correlation Checklist

All 25 game questions are directly derived from the Unit 1 core slides and reflect the question styles found on the student unit test. Excellent for scaffolding!

Review Duration:
1 Class block (45-60 min)

Unit 1 Economic Showdown Master Guide Page 2 of 2