Youtube Exercise » English Grammar Homework

B1-B2

Intro to Economics – Course Trailer

Khan Academy

364K views 7 years ago

Warm-up Questions

When you hear the title “Intro to Economics – Course Trailer,” what topics do you expect to learn about?
Why might someone want to become “economically-literate”?
What real-life decisions do you think economics can help explain?

Up Next

Karate 27 Basic Movements | Okinawan Karate | Every day Karate at Home | Ageshio Japan Okinawa Karate Masters
COME ESPORRE CORRETTAMENTE UNA FOTOGRAFIA Simone Tarca
Kruger National Park | Documentary Adventure Calls
What Parental Burnout Looks Like (and How to Avoid It) SciShow Psych
Gate Changed… We Almost Missed the Flight | English Listening Practice (A2) Emma Daily English

Start With: Word Definition

Order: Alphabetical Random

…

Intro to Economics – Course Trailer

Everyday decisions and basic economic ideas (00:00 – 00:49)

Transcript will load here…

1. What does the speaker say you have always been?

A government worker
A business owner
A mathematician
An economic actor

2. What is it called when choosing one activity means you give up other options?

Scarcity
Opportunity cost
Comparative advantage
Supply

3. Questions about paying more or less when there is more of a thing lead to which idea?

Supply and demand
Trade-offs
Humanities
Animal spirits

Intro to Economics – Course Trailer

Scarcity, allocation, trade-offs, and trade (00:49 – 01:38)

Transcript will load here…

1. According to the speaker, economics studies how things should be allocated when there is not enough for everyone. What is this situation called?

Scarcity
Demand
Aggregate
Opportunity cost

2. To allocate scarce resources, what do you have to make?

Diagrams
Trade-offs
Insults
Compliments

3. What concept is mentioned as an idea related to why trade can be good?

Rational price
Animal spirits
Supply curve
Comparative advantage

Intro to Economics – Course Trailer

Economics as science and humanities; assumptions and human behavior (01:38 – 02:42)

Transcript will load here…

1. How does the speaker feel about the label “the dismal science” for economics?

They strongly disagree with it
They think it only applies to math
They view it as a compliment
They have never heard it

2. Which tools does the speaker say the course will use like traditional sciences?

Poetry and novels
Mathematics and diagrams
Only interviews
Only everyday language

3. What does the speaker say we should ask when using mathematical models?

What assumptions did we make?
Who is the richest person?
How long is the course?
Which country trades the most?

Intro to Economics – Course Trailer

Transcript will load here…

1. Which best describes an “opportunity cost”?

The money you pay for something
A tax on trade
The benefit you give up when choosing one option over another
A situation where everyone gets what they want

2. In this video, “scarcity” refers to:

Only being able to model things with math
Having unlimited resources
Having not enough for everyone to get as much as they want
Having too many buyers

3. What is one major goal of learning to “think like an economist” in the video?

Model ideas visually and mathematically to reach rigorous conclusions
Focus only on prices and ignore human behavior
Avoid asking questions about assumptions
Memorize difficult vocabulary only

Discussion Questions

Discuss the ideas from this video

Intro to Economics – Course Trailer

What is one example of an opportunity cost from your life (time, money, or choices)?
The video says everyone is an “economic actor.” Do you agree? Why or why not?
Why might trade be good, and why might it “not always be in everyone's interest”?
Do you think people are always rational when they make decisions? What are some situations where they might be irrational?