MICROECONOMICS
Mr. Iacono
SUMMER ASSIGNMENT
Welcome to AP Microeconomics. I am looking forward to working with you in the
upcoming school year. I am keeping the summer assignment short but relevant so
you will have time to enjoy your summer.
Please note that it is due the FIRST DAY OF
CLASS in September. Failure to complete the summer assignment will result in
your being dropped from the course.
Assignment:
Read the pages provided online (or in your packet if you picked it up from me)
and complete the following questions and article.
QUESTIONS
(To be done after completing
the reading)
-
A friend of yours on the tennis team says,
"Private lessons are definitely better than group lessons." Explain what he
means by this statement. Then use the cost-benefit principle to explain why
private lessons are not necessarily the best choice for everyone.
-
You are about to buy software at the campus
store for $50 when a friend tells you that the same software is available
downtown for a $40. The cost of making the trip downtown is $12. Is there
an economic surplus or an economic loss if you buy the software downtown?
Where should you buy the software?
Explain your answer.
ARTICLE
-
Submit
ONE article from a
newspaper or business magazine that pertains to Economics. Write a
short (1/2 to 1 page typed)
summary of the article and explain why you chose that particular article.
If
you have any questions please feel free to contact me.
E-mail:
s.iacono@hackensackschools.org
Economics: Studying Choice in a World of Scarcity