09/12/14 Notes

September 12, 2014


Chapter 5: Supply
Section 3: Changes in Supply

Factors that will shift the supply curve:

1. Subsidies – Why?
To encourage producers to produce what the nation needs.
To protect young and growing industries from foreign competition.
By lowering the marginal cost at all levels of output, shifting the supply curve to the right. When that happens, it generally lowers the price of the good to the public.
2. Excise Tax
Often used to discourage the sale of harmful product.
Examples: Tax on tobacco and alcohol.
Tax on gas guzzlers for cars, not SUVs.
Causes the supply curve to shift to the left by increasing the price of the good.
3. Regulation
Government intervention in a market that affects prices, quantity, or quality of a good.
Emission control on cars.
Airbags for cars.
Specially formulated gasoline for California.
4. Seller Expectations
If the sellers are expecting a rise in the price of the goods, then the seller will hold back the goods until the price has risen.
5. Changes in global economy
Increase in the wages of foreign workers.
New technological inventions.
New discovery of supply from elsewhere.
Import restrictions.

Chapter 5: Political Parties
Section 2: The Two-Party System

Why a Two-Party System?
American party system began as a two-party system.
Most Americans accept the idea of a two-party system simply because there has always been one.
Nearly all of the elections held in this country—from the presidential contest to those at the local levels—are single-member district elections. A candidate only needs a plurality of the votes to win the election, so most voters think of a vote for a minor party candidate as a “wasted vote.”
Americans are ideologically homogeneous people. There is a broad consensus on fundamental matters.
Therefore, both parties tend to have moderate views on many issues. They both seek to win as many votes as possible to get their candidates into office, so they can’t alienate too many voters.

Critical Thinking
1. What are the advantages and disadvantages of a multiparty system?
Voters would have a much more meaningful choice among candidates and policy alternatives.
It often leads to instability in government. One party is often unable to win the support of a majority of the voters. As a result, the power to govern must be shared by a number of parties, in a coalition.

2. Why is the one-party system also known as the no party system?
Because it often exists in dictatorships where only one political party is allowed. That party is the party of the ruling clique.

3. Name four factors that tend to influence party choice for individuals.
Family is almost certainly the most important among them. Studies show that nearly two out of every three Americans follow the party allegiance of their parents.
Major events such as the Civil War or the Great Depression can also have a decided influence on the party affiliation of voters.
Economic status also influences party choice. Historically, those in higher income groups are more likely to be Republicans, while those with lower incomes tend to be Democrats.
Other factors such as age, place of residence, level of education, and work environment can affect one’s choice of political party affiliation.

09/10/14 Homework and Notes

September 10, 2014

Econ Homework

Copy and answer questions 1-7 on page 114 in Cornell format to review Chapter 5-2.

Gov’t Notes

Chapter 5: Political Parties
Section 1: Parties and What They Do

What Is a Party?
It is a group of persons who seek to control government through the winning of elections and the holding of public office in order to affect certain public policies and programs.
The Republican and Democratic parties are not primarily principle- or issue-oriented. They are, instead, election-oriented.

Major Functions of Political Parties

Select candidates and then present them to the voters. Then the parties work to help their candidates win elections.

Inform the people, and inspire their interest and participation in public affairs. They campaign for their candidates, take stands on issues, and criticize the candidates and the positions of their opponents.
Each party tries to inform the people as it thinks they should be informed—to its own advantage.
Both parties try to shape positions that will attract as many voters as possible and offend as few voters as possible.

Acts as a “bonding agent,” to ensure the good performance of its candidates and officeholders. In choosing its candidates, the party tries to make sure that they are men and women who are both qualified and of good character.
The party also prompts its successful candidates to perform well in office. Or else both the party and its candidates may suffer the consequences in future elections.

Provide a basis for the conduct of government.
Congress and the State legislatures are organized on party lines, and they conduct much of their business on the basis of partisanship.
Appointments to executive offices at the federal and State levels are made with party considerations.

Act as watchdogs over the conduct of the public’s business – especially for the party out of power.
It criticizes the policies and behavior of the party in power in its attempt to get back in the position of power.

Stock Portfolio Selection Homework – Due Tomorrow

September 9, 2014

Things to do before getting started on your project…


To receive credit for your project, I will need the following information for my record:
Stock Selection Information Sheet (Distribute this information to all group members when complete.)

Use Yahoo! Finance to find this information… http://finance.yahoo.com/
1. Date of purchase (09/09/2014)
2. Companies selected (Total of 4 or 5 companies based on the number of students per group. DIVERSIFY and have a variety of sectors in your selection such as retail, energy, technology, automotive, banking, medical, telecommunications, etc in your portfolio).
The company’s stock must be traded on NYSE or NASDAQ.
3. Symbol (Example: Home Depot = HD)
4. Purchase Price (The closing price on 09/09/2014)
5. Numbers of shares purchased
Divide the $10,000 evenly amongst the group to buy shares for each company. For Example, if your group has four students, each student will spend $2,500 to purchase the stocks in the company of his/her choice.
So if a company’s share is priced at $100 dollars, you will buy 25 shares for $2,500.
Spend a total of $10,000 for the stocks.
6. Amount of left over cash (This is the money that you did not spend. Be sure to spend as much of the $10,000 as you can. For example: If you spent $9,970 to buy the stocks, you have $30 of cash left.)
7. In addition, please write a paragraph for each company that you’ve chosen (I will need a total of FIVE paragraphs).  In your paragraphs, include details such as…
Why you selected the company
Products and services offered by the company
History, etc.

Econ: Stock Market Portfolio

September 9, 2014

Due Date: Tuesday, 10/14/14
Points: 100

“My Stock Portfolio” PowerPoint

As you already know, stocks can be a good investment vehicle to generate a great amount of return in a short span of time, it can also be one of the options to save for your retirement and help you guard against devaluation of your financial assets due to inflation. However, if you don’t invest wisely, you can lose lots of your hard earned cash in a relatively short amount of time.
In your Stock Market PowerPoint, please include the following items.

A. Cover slide w/ the title “Our Stock Portfolio”
Include illustrations, names, date, and period.

B. Portfolio Valuation Section (make a chart)

Name of Companies
Date of Purchase 09/09/14
Purchase Price
Number of Shares
The closing price as of 10/10/14
Total stock value for each company as of 10/10/14
Total Portfolio Value = Total Value of Stocks + Cash

C. Company Information (at least 4 slides for best and worst performing company)
Name / Logo
Brief history/information of the company (one paragraph)
Why did I buy the stock? (one paragraph)
Why did this stock perform the way it did? Write a paragraph citing two examples from the news to support your conclusion. Share your source along with a web site address.
Daily price record chart (date and closing price).
Graph demonstrating the fluctuation of the stock from the last month (from 09/09/14 to 10/10/14).

D. Reflection
If I were to invest $10,000 of my own money, what would I do differently the second time around? What have I learned based on this experience?
You will need to submit one reflection per group member.
Things to do before getting started on your project…

To receive credit for your project, I will need the following information for my record on 09/10/14:
Date of purchase
Purchase Price
Numbers of shares purchased
Amount of left over cash
This report is worth 100 points.
Extra credit will be offered for any relevant and appropriate multimedia material.
Use the Internet for reference purposes only, do not plagiarize.
MKHS cheating policy will be enforced.
This Report/PowerPoint is due on Tuesday, 10/14/14

Tips for PowerPoint:
Use size 24 font for the PowerPoint.
Don’t copy and paste.
Eliminate any spelling and grammatical errors, a point will be deducted for every error present in the PowerPoint.
Learn the pronunciation of every word. You have control of the content in your presentation, so do not include a word that you cannot enunciate properly. One point will be deducted for every word that is mispronounced.
Use text that provides contrast to the background
Use appropriate pictures for EVERY slide.
Use bullets to break up long paragraphs.
Do not copy and paste.
Bring the file on USB flash drive or CD.
Email PowerPoint file attachment as a backup to mkhsko@yahoo.com
Include Period, name and topic in the subject field.

09/08/14 Homework and Notes

September 8, 2014


Copy and answer the questions below in Cornell format.

Ch. 5 Supply
Sec. 1 Understanding Supply

Critical Thinking
1. Predict what will happen to quantity of oil when the price rises? How about when it falls?
2. Describe the supply curve.
3. What is the key factor that determines whether the supply of a good will be elastic or inelastic? Why?
4. As a producer, what would you do if the price of the good that you supply has been dropping for several years?


Copy and answer questions 1-25 in Cornell format on page 110 to review Chapter 4. Due on Wednesday.

Chapter 4: Federalism
Section 3: Interstate Relations

Interstate Compacts
No State can enter into any treaty, alliance, or confederation. However, the States may, with the consent of Congress, enter into interstate compacts—agreements among themselves and with foreign states.

For example, compacts are designed to…
Coordinate the development and conservation of such resources as water, oil, wildlife, and fish;
prevent forest fires;
combat stream and harbor pollution;
provide for tax collections;
promote motor vehicle safety; facilitate the licensing of drivers.

Full Faith and Credit
“Full Faith and Credit shall be given in each State to the public Acts (law), Records (birth certificate), and judicial Proceedings (court judgement) of every other State.”—Article IV, Section 1

It applies only to civil, not criminal, matters. One State cannot enforce another State’s criminal law.
It does not apply to certain divorces granted by one State to residents of another State. If the person filing for divorce is not a resident of the state, then the State granting the divorce did not have the authority to do so, and another State can refuse to recognize it.

To become a legal resident of a State, a person must intend to reside there permanently, or at least indefinitely.
It is the legal process by which a fleeing fugitive from justice in one State can be returned to that State.

Extradition is designed to prevent a person from escaping justice by fleeing a State.
The federal courts can order an unwilling governor to extradite a fugitive.

Privileges and Immunities Clause
According to the clause, no State can draw unreasonable distinctions between its own residents and those persons who happen to live in other States.

Each State must recognize the right of any American to travel in or become a resident of that State.
Allows any citizen to use its courts and make contracts; buy, own, rent, or sell property; or marry within its borders.
Enables States to draw reasonable distinctions between its own residents and those of other States for purposes such as voting and determining tuition.
A State cannot do such things as try to relieve its unemployment problems by requiring employers to give a hiring preference to in-State residents.

Econ: Chapter 4-3 Notes

September 8, 2014

Chapter 4: Demand
Section 3: Elasticity of Demand

Elasticity is…how consumers will respond to the change in price of a certain good.

Formula to calculate elasticity:

% of change in quantity demanded
% of change in price

If elasticity is…..
Greater than 1 = elastic
Less than 1 = inelastic
Equal to 1 = unitary elastic means that the change in price will always precisely reflect the change in quantity demanded.

Factors that will affect the elasticity of demand:
1. Availability of substitutes – is there any effective alternative to gasoline to power cars? Not really. Therefore, gasoline is inelastic.
2. Relative importance – how much of your budget will you spend on the good?
3. Is it a necessity or luxury? Goods such as prescription drugs are more likely to be inelastic because they are necessary.
4. Change over time – Fifty years down the road, will gasoline still be inelastic? New technology will enter the market place to change the elasticity of demand.

Gov’t: Political Party Project

September 8, 2014

Due Date: Friday, 09/19/14
Points: 100

Group Project: Political Parties

Election Day is coming up in November and you and your classmates in the senior government class have a chance to register to vote for the very first time.

You are part of a group who will be analyzing one current political party and making a presentation to the class about this party’s solutions for the problems that confront the U.S. today. Since your role as “party analyst” is so important to your classmates, you will strive to ensure that all information presented is current and accurate.


Select one of the following political parties:

America First

Create a PowerPoint presentation. You will divide presentation into four sections. Make up an original title for your presentation which includes the name of your political party.

Include the following items in your presentation:

(Be sure to present the information it in bullet lists)

Section 1 – Introduction

  • Write a brief (200-250 words) historical background on the party.
  • Choose three major issues (including economy,immigration, and another issue of your choice) and describe your party’s position. Be sure to explain how your party justifies its position.

Section 2 – Party Ideology

  • Present a current campaign slogan used by your political party.
  • In a paragraph (75 word minimum), describe in general terms what your party’s philosophy is regarding the role of government in American life.

Section 3 – Influential Figure

  • Find a photo of a famous person from your party (1950-present) and include a significant quote from that person and interpret the quote.

Section 4 – Promotion

  • Create a poem or rap (it must rhyme) with at least 10 different lines which reflect your political party’s point of view.
  • Present the mascot/logo for your political party. Include a brief description of how the mascot/logo represents the party. If a mascot/logo doesn’t exist, create one and explain how it represents the party.


  • Divide the work up evenly with your partners working on each assignment.
  • Proofread all work carefully.
  • Make your PowerPoint show colorful and pleasing to the eye.
  • Minimum font size should be 24.
  • Plagiarism is a form of cheating. I will be checking for academic dishonesty after each presentation. DO NOT COPY AND PASTE FROM THE INTERNET !!!
  • E-mail your PowerPoint presentation to mkhsko. In the subject field, type in your name, period, and political party. Failure to do so will result in a 10 point penalty.

Tips for PowerPoint:

  • Use size 24 font.
  • Don’t copy and paste.
  • Eliminate any spelling and grammatical errors, a point will be deducted for every error present in the PowerPoint.
  • Learn the pronunciation of every word. You have control of the content in your presentation, so do not include a word that you cannot enunciate properly. One point will be deducted for every word that is mispronounced.
  • Use text that provides contrast to the background
  • Use appropriate pictures for EVERY slide.
  • Use bullets to break up long paragraphs.
  • Do not copy and paste.
  • Email PowerPoint file attachment to mkhsko@yahoo.com
  • Include Period, name and topic in the subject field.

Refer to page 124 in the textbook for you party’s web site.


The key to success for this activity is for you to present your Political Party in a genuine way. The rest of the class must think that you firmly believe what you are saying. No matter how strange a position may seem to you, try and understand it and present it as if you believed it all of your life.


Evaluation of this activity will be based on: the quality and accuracy of your research, visual presentation of your PowerPoint show, and your preparedness (spelling, pronunciation, and grammar) during your presentation.


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