Supply Power Point

 

Poem of the Week: Meeting At Night

     

     Experience comes to us largely through the senses.  My experience of a spring day, for instance, may consist only of certain emotions I feel and partly of certain thoughts I think, but most of it will be a cluster of sense impressions.  It will consists of seeing blue sky and white clouds, budding leaves and daffodils; of hearing robins and bluebirds singing in the earling morning; of smelling damp earth and blossoming hyacinths; and of feeling a fresh wind against my cheek.  The poet seeking to express his experience of a spring day must therefore provide a selection of the sense impressions he has... Without doing so he will probably fail to evoke the emotions that accompanied his sensations.  His language, therefore, must be more sensuous than ordinary language.  It must be more full of imagery.

     Imagery may be defined as the representation through language of sense experience.  Poetry appeals directly to our senses, of course, through its music and rhythms, which we actually hear when it is read aloud.  But indirectly it appeals to our senses through imagery, the representation to the imagination of sense experience.  The word image perhaps most often suggests a mental picture, something seen in the mind's eye - and visual imagery is the most frequently occurring kind of imagery in poetry.  But and image may also represent a sound; a smell; a taste; a tactile experience, such as hardness, wetness, or cold; an internal sensation, such as hunger, thirst, or nausea; or movement or tension in the muscles and joints. 

MEETING AT NIGHT

The gray sea and the long black land;

And the yellow half-moon large and low;

And the startled little waves that leap

In firey ringlets from their sleep,

As I gain the cove with pushing prow,

And quench its speed i' the slushy sand.

Then a mile of warm sea-scented beach;

Three fields to cross till a farm appears;

A tap at the pane, the quick sharp scratch

And blue spurt of a lighted match,

And a voice less loud, through its joys and fears,

Than the two hearts beating each to each!

                                                          Robert Browning  (1812 - 1889)

cove - a curved part of a coast that partly surrounds an area of water.

prow - the front part of a boat.

Introduction to Supply Curves

 

Demand Elasticity Video

 

Demand, Demand Curves, Demand Elasticity, Factors Affecting Demand

 

The Demand Curve

 

Mergers & Acquisitions

 

Poem of the Week: Sound and Sense - Alexander Pope (1688 - 1744)

 

SOUND AND SENSE

True ease in writing comes from art, not chance,

As those move easiest who have learned to dance.

'Tis not enough no harshness gives offense,

The sound must seem an echo to the sense:

Soft is the strain when Zephyr gently blows,

And smooth the stream in smoother number flows;

But when loud surges lash the sounding shore,

The hoarse, rough verse should like a torrent roar;

When Ajax strives some rock's vast weight to throw,

The line too labors, and the words move slow;

Not so, when swift Camilla scours the plain,

Flies o'er the unbending corn, and skims along the main.

Hear how Timotheus' varied lays surprise,

And bid alternate passions fall and rise!

Study Guide For Friday (9/25) Exam

 TYPES OF ECONOMIES

TYPES OF ECONOMIES 2

FACTORS OF PRODUCTION

CIRCULAR FLOW OF ECONOMIC ACTIVITY

Traditional economy

A traditional economy is an economic system where goods and services are exchanged primarily through bartering rather than monetary transactions. Often referred to as agrarian or subsistence economies, these systems are characterized by a strong reliance on agriculture and communal roles defined by social status and family lineage. In traditional economies, individuals typically learn the skills of their parents, with boys following in their fathers' trades and girls taking on domestic responsibilities taught by their mothers. This structure fosters stability and security within communities, as decisions are usually made by elders or family heads, reinforcing established social hierarchies.

However, traditional economies face limitations in terms of growth and individual opportunities, as there is often little motivation for families to exceed their immediate needs. Despite the decline of traditional economies in developed nations due to industrialization and market expansion, remnants still exist in various parts of the world, particularly in developing countries where cultural practices remain strong. Recently, there has been a resurgence of interest in traditional economic practices as people seek more organic and locally sourced food options, reflecting a modern return to some of the principles of traditional economies.

Bad Writing vs. Good Writing (The Psychological Dimension of Words): Pedantic/ Pompous Style

pedantic - caring too much about unimportant rules or details and not enough about understanding or appreciating a subject.

pompous - 1) having or exhibiting self-importance; arrogant. 2) excessively elevated or ornate.

A pedantic or pompous style is psychologically displeasing.  Compare these sentence pairs, identical in logical meaning:

1) "Behold! The inhabitants have all retired to their domiciles."

"Look! The people have all gone home."

2) "The vaulted dome of heaven is cerulean."

"The sky is blue."

Source: "The Trivium: The Liberal Arts of Logic, Grammar, and Rhetoric", Sister Miriam Joseph

Factors of Production

 

Sound and the Psychological Dimension & Poem of the Week

 

Various characteristics of words affect the psychological dimension of language.

The mere sound of a word may produce a pleasing effect which another word of the same meaning lacks.  In "Silver" by Walter de la Mare, the poet's substitution of words like shoon for shoes and casements for windows are examples of the poet's use of sound to create a psychological effect.

SILVER

Slowly, silently, now the moon

Walks the night in her silver shoon;

This way, and that, she peers, and sees

Silver fruit upon silver trees;

One by one the casements catch

Her beams beneath the silvery thatch;

Couched in his kennel, like a log

With paws of silver sleeps the dog;

From their shadowy cote the white breasts peep

Of doves in a silver-feathered sleep;

A harvest mouse goes scampering by,

With silver claws and a silver eye;

And moveless fish in the water gleam

By silver reeds in a silver stream.

                - Walter de la Mare

Source: "The Trivium: The Liberal Arts of Logic, Grammar, and Rhetoric", Sister Miriam Joseph

"The poem begins with the speaker stating that the light of the moon is casting down on earth. This occurs while, 'she,' the moon, moves slowly through the sky. The moon is taking its time, choosing to look at everything on Earth while 'she' has the chance."

"Some of the creatures and objects that are spotted and therefore cast in 'silver light' are the 'casements' of windows, doves, a dog, and sleeping fish. These creatures and objects are perfectly mundane and ordinary. There is nothing remarkable about them during the day, but at night they are enhanced and made more beautiful."

mundane (adj.) - characterized by the practical, temporary, and ordinary; commonplace.

Source: Silver

The Logical and Psychological Dimensions of Words

 

     "Language has logical and psychological meanings which may be illustrated through a closer look at the words house and home... Objectively, the definition (the logical dimension) of house and home are similar... but subjectively, home is a much richer word, for to its logical content is added emotional content (the psychological dimension)... The fact that house has practically no psychological dimension while home has much accounts for the different effects produced by the following lines which are equivalent in their logical dimensions."

House, house, loved, loved house!

There's no place like my house!  There's no place like my house!

Home, home, sweet, sweet home!

There's no place like home!  There's no place like home!

                      - John Howard Payne, "Clari, the Maid of Milan"

Source: "The Trivium: The Liberal Arts of Logic, Grammar, and Rhetoric", Sister Miriam Joseph

Poem of the Week

 

The poet, Robert Frost, carefully chooses the words for this poem to express an image in your mind and to express that image through sound.  Read this poem aloud to yourself and try to envision what he depicts in your mind and to your ears.

THE SPAN OF LIFE

The old dog barks backward without getting up.
I can remember when he was a pup.

1) Of the two lines in this poem, which is easier to pronounce aloud? 

2) Of the two lines in this poem, which is the more difficult to prounounce aloud?

3) Why do you think Robert Frost chose to make the lines different in their ease of pronunciation?

4) Why did Robert Frost title this poem "The Span of Life"?

Basic Economic Definitions Power Point

 

For each word or term on this sheet, write the definition as it appears.  Beneath each of those words, write the word or term and its definition as it appeared in the power point from which you took notes.  In other words, you will write a word or term and its definition as it appears on this review sheet THEN find that word or term in your notes and write it and its definition, then proceed to the next word on this sheet.  In some cases, the word or term will not appear in your notes because some of these words and terms are new (though very similar).  In those cases, you need only to write the word or term as it appears on this review sheet.  If there is any word in the definition you do not know, please look it up.  And as always, complete this assignment in your own handwriting on a sheet of paper.  Please write neatly.  This assignment is due on the day of the exam.

 

1) economics - the study of scarcity, the study of how people use resources and respond to incentives; the study of decision-making.

 2) scarcity - the fundamental economic problem of having limited resources to meet unlimited wants and needs.

 3) opportunity cost - the value of the next-best alternative you give up when you make a choice;

 4) trade-off - a situation where you must give up one benefit or item to gain a different, competing benefit.

 5) trade-off vs. opportunity cost - A trade-off is the general compromise of giving up one thing to get something else, while opportunity cost is the specific economic value of the single best alternative you gave up.

 6) economy - a large system where people, businesses, and governments make, share, buy, and sell goods and services.

 7) mixed economy - an economic system that combines private enterprise and free-market freedom with government intervention and public services.

 8) free market - an economic system where prices and services are set by supply and demand with little or no government control.

 9) free market economics – an economic system with the following characteristics: 1) voluntary Exchange: Buyers and sellers trade freely because both sides believe they benefit;  2) no Government Intervention: Prices, wages, and production levels are not fixed by laws, taxes, quotas, or central planning; 3) Private Property: Individuals and private businesses own resources and the means of production; 4) Competition: Businesses compete for customers, which can lead to lower prices and better products

 10) command economy - an economic system where a central government makes all decisions about what to make, how to make it, and who gets it.  A command economy has the following characteristics: 1) central control: The government decides production goals, sets prices for goods, and controls the distribution of resources;  2) government ownership: the government owns major industries, land, and the means of production instead of private citizens; 3) supply and demand do not determine prices or output.

 11) microeconomics - a branch of economics that studies how individual people, households, and businesses make decisions to use their limited money and time.

 12) macroeconomics - the branch of economics that studies the behavior, performance, and structure of an entire economy on a large scale; the study of whole economies—the part of economics concerned with large-scale or general economic factors and how they interact in economies.

 13) market - any physical place, virtual space, or system where buyers and sellers meet to exchange goods, services, or information.

 14) supply - the total quantity of a product or service that is available for purchase, influenced by production capabilities and market conditions.

 15) demand - the relationship between the quantity of a good or service that consumers are willing to purchase and its price.

 16) Features of the “Law of Supply” - higher prices: makers of goods and services produce more because they can make a bigger profit; lower prices: makers of goods and services produce less because they make less money. The basic rule: as the price goes up, the supply goes up. As the price goes down, the supply goes down

 17) Features of the “Law of Demand” - higher prices: people buy less because the item costs too much;  lower prices: people buy more because the item is a good deal.  The rule: As the price goes up, the demand goes down. As the price goes down, the demand goes up.

 18) Law of Supply and Demand - the relationship between the quantity of a good or service that consumers are willing to purchase and its price.

 19) goods - tangible items or products that satisfy human wants, provide utility (satisfaction), and have economic value; goods can be seen, touched, and physically possessed or transferred.

 20) services - an intangible act, performance, or experience that one party offers to another in exchange for money or value.

 21) intermediate goods - inputs that businesses purchase and use up, transform, or combine to produce other goods or provide final services; products or services utilized during a production process that are not sold directly to the final end consumer.