Economics – 10/29/13

I.  Bellwork:

A. Section 5-3 Q&A

  1. Explain why electricity is considered to be a variable cost.
  2. Explain why many people are choosing to start e-commerce stores instead of more traditional businesses.

II. Objective:

  • Examine how businesses analyze their costs and revenues to maximize profits.
  • Integrate and evaluate multiple sources of information presented in diverse formats and media in order to address a question or solve a problem.

III.  Discussion Pgs 132-137 and Notebook work: 

  • Process Map – Stages of the Production Function
  • Variable Costs
  • Brace Map – Costs – Fixed and Variable

IV. Discussion: Cost/Revenue/Profit Maximization Pages 132-137

V. Classwork

  • Page 140 #23-28 Q&A

VI.  Chapter 5 Test ThursdayChapter-5-Review1


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