October, 2014

Economics – 10/31/14

I.  Bellwork Page 141- #34 Draw diagrams & answer Page 141- #37  Answer only II. Objective Explain the law of supply and analyze changes in supply as well as changes in quantity supplied. Analyze the production function and other decision making models which allow businesses to maximize profits. Evaluate various explanations for actions or events […]

Economics – 10/30/14

I.  Bellwork: Questions and Answers – Question #3 is the last sentence at the end. Bellwork Economics Skills Lab Supply II.  Objectives: Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence, Review and discuss changes in quantity supply, supply, the production function and use marginal analysis to make […]

Economics – 10/29/14

I.  Bellwork: Questions & Answers A.  Figure 5.6 Page 134 At what number of products is the break-even point in on the table achieved? Estimate a range. At what number of workers is the profit-maximization level achieved on the table and explain why this choice is correct. Explain the advantages e-commerce stores have over traditional […]

Economics – 10/28/14

I.  Bellwork: Chapter 5 Enrichment(1-5 Q&A) II.  Objective: Calculate production schedules and 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: Cost/Revenue/Profit Maximization Pages 132-137  How Nintendo loses […]

Economics – 10/27/14

I.  Bellwork A Copy the table and complete the Marginal Product & Stage of Production Columns Number of Workers Total Product Marginal Product Stage of Production 0 0 1 4 2 12 3 22 4 34 5 38 6 40 7 36 8 30 II.  Objective Complete a production schedule and graph a production function determining […]

Economics – 10/24/14

 I,  Bellwork – Questions & Answers Page 126 Analyzing the Impact 1-2 3.  How has ethanol production increase from 1995 to 2005? II.  Objective: 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, […]

Economics – 10/23/14

I.  Bellwork – Explain what occurs to total product and marginal product at each stage. – Copy the table   TOTAL PRODUCT MARGINAL PRODUCT STAGE 1 STAGE 2 STAGE 3 II.  Objective: Examine how changes in labor affect output. – Theory of Production Construct a production function and identify the stages of production Evaluate various […]

Economics – 10/22/14

I.  Bellwork: A.  Illustrate each of the following by constructing a simple supply 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 […]

Economics – 10/21/14

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 – 10/20/14

I.  Bellwork Q&A A.  Pg 117 – Companies in the News What created a shortage of the flu vaccine? How did the market respond to the shortage?  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. Determine the meaning […]

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