Economics – 3/23/12
I. Bellwork Q&A
- List 3 expenses/costs associated with operating a business.
- List one expense/cost that would vary depending on the level of production.
- List one expense/cost that would remain the same regardless of the level of production.
II. Objective
- Determine how businesses analyze their costs and revenues to maximize profits.
III. Discussion Pgs 132-137 and Notebook work:
- Multi-Flow Map – Stage 3 of the Production Function
- Brace Map – Costs – Fixed and Variable
IV. Classwork:
- P. 132 Vocabulary (13)
- Page 137 #2-4 Q&A
V. Production Function Quiz
VI. Notebook Check Next Week
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