The more I read about Kamehemeha I, the more I've become fascinated by Kamehameha's great intellect. Although the complexity of his strategies made him great, it was his simplicity which we regard as a genius. The first king of modern Hawai'i served his people by being astute, kind, and with integrity. It was from Kamehameha's wisdom that introduced sandallwood and fur as Hawaii's first industries. Studying Kamehameha brings us now to a new benchmark: SS.7HHK.3.3 - Explain reasons why foreigners came to Hawai'i and explain the political, social, and economic impact on Hawai'i.
Attempting to explain reasons why foreigners came to Hawai'i (SS.7HHK.3.3) invariably includes describing how prices and products were affecting consumers and producers in this era (late 18the through early 19th century Hawai'i). We will correlate the Role and Function of Markets (SS.7HHK.8.1) and the first industries of Hawai'i - namely, the Sandalwood and Fur Trade.
As a precursor in understanding these required benchmarks, we will study economic theory. When you begin to create your economics blogspot, you will be required to know the fundamentals of:1) Law of Supply and Demand,
2) Opportunity Cost and Substitutability,
3) General Equilibrium and the Price System,
4 ) Elasticity and Inelasticity,
5) the Law of Diminishing Marginal Utility,
6) Inflation and Unemployment,
7) Balance of Trade
8) Contrasting the Free Market System with Socialism and Communism, and
9) Monopolies and Oligopolies.
In producing your blogspot, I will require the following:
1) weekly, monthly, or quarterly statistics (tracked by graphs or charts) on:
a) Dow Jones Averages and NASDAQ for each day,
b) unemployment figures for the week (national),
c) inflation rate (national),
d) currency values (dollar vis-a-vis euro),
e) price of crude oil, and
f) vocabulary words relating to economics with a corresponding sentence.
Log onto this blogspot: http://kalakauaecon-gwong.blogspot.com/
