March, 2014

Economics – 3/31/14

I.  Bellwork Q&A Reading Check Page 129 Reading Check Page 130 II.  Objective: Examine how changes in labor affect output. – Theory of Production Construct a production function and identify the stages of production Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence. III.   Discussion: Pages 127-130 Theory […]

Economics – 3/28/14

I.  Bellwork: A.  Illustrate each of the following by constructing a simple graph: an increase in quantity supplied a decrease in supply an increase in supply a decrease in quantity supplied II. Objective Identify  how changes in labor result in changes in output. – Theory of Production provide an accurate summary that makes clear the […]

Economics – 3/27/14

I.  Bellwork: Q&A 1. What does the movement from a1 to b1 on the graph represent? 2. What does the movement from a1 to a on the graph represent? 3. What does the movement from b to b1 on the graph represent? II. Objectives: Examine the importance of entrepreneurs in a market economy as they […]

Economics – 3/26/14

I. Bellwork Q&A List and Explain in detail  2 examples why the supply curve would shift to the right. List and Explain in detail 2 examples why the supply curve would shift to the left. II. Objective Utilize supply schedules to express supply graphically and analyze how the Law of Supply is represented. Create and […]

Economics – 3/25/14

I.  Bellwork: Illustrate a change in quantity supplied and explain what causes it Economic Analysis Page 118, 119 & 120 Q&A II. Objective Express supply graphically and analyze how the Law of Supply is represented on the supply curve. Utilize supply schedules to express supply graphically and analyze how the Law of Supply is represented. […]

Economics – 3/24/14

I. Bellwork Q&A A.  Pg 117 – Companies in the News 1.  What created a shortage of the flu vaccine? 2.  How did the market respond to the shortage? 3.  What is the current availability of the vaccine? II. Objective Define Supply; identify changes in quantity supplied and factors that cause a change in supply. […]

Economics – 3/21/14

I.  Bellwork Marco’s subs sells 400 sub sandwiches a week at a price of $5.00 each.  Marco soon raises the price to $5.50 and is able to sell 380 sub sandwiches for the week. Determine Marco’s Total Revenue before and after the price change. Use the revenue/expenditure test to determine if demand is elastic or […]

Economics – 3/20/14

I.  Bellwork: Page 112  #25 Page 113  #26 II. Objectives: Examine the importance of entrepreneurs in a market economy as they attempt to obtain capital and financing to support their endeavors. Demonstrate understanding of written, spoken, or visual information by restating, paraphrasing, summarizing, critiquing, or composing a personal response III. Chapter 4 Review Sheet due […]

Economics – 3/19/14

I.  Bellwork Q&A: List the 3 determinants of demand elasticity. Provide 2 examples of an inelastic product/service. (Be specific) II.  Objective: Identify and analyze factors that influence demand elasticity. Review and discuss concepts and principles relating to demand. Integrate and evaluate multiple sources of information presented in diverse formats in order to determine demand elasticity […]

Economics – 3/18/14

 I. Bellwork: Q&A   What is the movement shown in this graph called? List and explain 3 factors that could result in the movement shown in the graph. II.  Objective: Identify factors that influence the size of a change in the quantity demanded (elasticity) Integrate and evaluate multiple sources of information presented in diverse formats […]

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