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THE EVOLUTION OF USEFUL THINGS

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btutino

Subject Social Studies — Economics, Personal Finance

Grade Level Grades 9-12

Resource Type Assessment, Lesson Plan

Standards Alignment

State-specific

License

About This Lesson

ESSENTIAL QUESTION: HOW DOES THE UTILTY-MAXIMIZING RULE REQUIRE ENTREPRENEURS TO EXAMINE THE CONCEPT OF FAILURE?

Objective: SWBAT to analyze, evaluation, synthesize and annotate an excerpted secondary source text toward building historical argumentation skills necessary for the NYS Regents exams.

Citations:

Warm Up – General Formulation on “How to do Utility Maximization Formula

https://youtu.be/yXJZpWbAbPo

Book: Petroski, Henry (1992) The Evolution of Useful Things. New York: Alfred A. Knopf (Pgs.220-250)

Article - McDonald’s New Frork

http://www.cnbc.om/2017/05/01/mcdonald-invents-the-frork-to-pitch-its-new-burgers.html

Article - Inventions That Failed

http://www.google.com/amp/s/amp.businessinsider.com/inventionsthatfailed-2016/CostsofFailure_opportunitiespresentedforentrepreneurs

Lesson Plan Ideas

Personal Finance Lesson Plans

Supply and Demand Lesson Plans

Financial Literacy Lesson Plans

Resources

Files

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EDBRAIN IT

EdBrAIn uses AI to customize lesson resources for your students’ needs.

THE EVOLUTION OF USEFUL THINGS LESSON PLAN.docx

Lesson Plan

February 13, 2020

29.13 KB

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EDBRAIN IT

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HANDOUT THE EVOLUTION OF USEFUL THINGS.docx

Assessment

February 13, 2020

90.42 KB

External resources

General Formulation on “How to do Utility Maximization Form...

Website

Article - McDonald’s New Frork

Website

Article - Inventions That Failed

Website

Standards

12.E1a

In making economic decisions in any role, individuals should consider the set of opportunities they have, their resources (e.g., income and wealth), their preferences, and their ethics.

Sound personal financial (money management) practices take into account wealth and income, the present and the future, and risk factors when setting goals and budgeting for anticipated saving and spending. Cost-benefit analysis is an important tool for sound decision making. All financial investments carry with them varying risks and rewards that must be fully understood in order to make informed decisions. Greater rewards generally come with higher risks.