//melvindale.melnapschools.com/apps/classes/988979/assignments/ Class Name: Economics - 5th Hour - Semester 1 - 20/21-5th Hour Instructor(s): Ian Striz en-us SchoolSitePro //melvindale.melnapschools.com/homeworkItem6734874 //melvindale.melnapschools.com/apps/classes/988979/assignments/
Most people agree that taxes are necessary but that too much taxation is bad for the economy. The most effective taxes are simple, equitable, and efficient.

One question we ask when deciding on taxes is who should pay them. Below are two answers to that question:

1. People who get the benefit from the government service should have to pay, i.e. if you drive a car you pay a gas tax, or if you drive on a toll(tax) road you pay the toll(tax). - Benefit Principle

2. People who have the ability to pay should have to pay, i.e. if someone earns more than enough income for them to live comfortably, they should pay more in tax than someone who does not earn enough income. - Ability to Pay Principle

Another question we ask is what type of tax? There are 3 types:

1. Progressive - The more resources/wealth/income you have, the higher percentage of taxes you pay. One example is income taxes.
2. Regressive - The less resources/wealth/income you have, the higher percentage of taxes you pay. One example is sales taxes on necessary goods and services.
3. Proportional - Everyone pays the same percentage of tax regardles of their resources/wealth/income. One example is property taxes.

In this assignment you are going to explore the answer to those questions: Who should have to pay taxes. First, we will build some background together about taxes. Second, watch the video and respond to the questions in the attached Google Form. This is what you will turn in.
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You will turn this in at the end of today's lesson.
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CO: SWD analysis of changes in commodity prices by identifying possible causes of those changes in a Google Slide
LO: SW write to describe a commodity and its change in price using provided sentence stems.
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2. Complete the Quizizz questions. You may take the Quizizz as many times as necessary to get the highest score possible. Your target should be 100%
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NOTE: Academic dishonesty, including copying another student's work, will result in a zero for this assignment both for the person who copied and for the person who shared their answers. You may work together, but your responses must be unique and your own.

If you do chose to help each other, do this: If a classmate asks for help with a question, tell them where in the article you found the answer, rather than just telling them the answer. This will help them but also enable them to practice their own skills.
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This will be graded for completion. Please do your best on each item. If you get it wrong, that is ok, that gives me information about what/how to teach you.

Chapter 6
Pg 146 - 2, 4, 5
Pg 154 - 2, 4, 5
Pg 161 - 2, 5


NOTE: If you are having trouble with the pdf of the textbook, download it to your computer. It will run faster from your computer than from the Google Drive.
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CO: SWD analysis of business profits by completing a marginal analysis to find the breakeven point
LO: SW write to define fixed and variable costs using John Collins Type 2
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CO: SWD comprehension of the law of supply by illustrating it with a supply curve
LO: SW write to describe the effect on supply when affected by a determinant of supply using the words increase or decrease.
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CO: SWD analysis of cause and effect in the market for mink furs
LO: SW read an article about the market for mink furs and write to identify the main idea using a google form.
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