Teacher's Notes

Theme:
The Gross Domestic Product, the total of all final goods and services in a year's time, is the standard measure of economic growth and well-being.

Sub-theme:
Because the GDP does not subtract external costs from overall production, many consider it to be a poor measure of genuine economic progress.

Concepts:

• externalities
• Gross Domestic Product
• economic growth
• utility
• sustainability

Performance objectives -- this lesson focuses on developing skills at:

• Dividing and classifying according to functional distintions
• Distinguishing objective and subjective factors
• Envisioning a sustainable society

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