Oct 21

AP Economics – 10/22/19

I.  Bellwork Page 570-571

  • Tackle the Test 1-5 & FRQ #2

II.  Objectives:

  • Explain the difference between explicit and implicit costs and there importance in decision making
  • Describe the different types of profit:  accounting , economic, and normal
  • Calculate profit

III.  Discussion Defining Profit p 533-536

Micro 3.7 Economic Profit and Costs

  • Formula for Profit
  • Differentiate between Explicit & Implicit Costs
  • Accounting Profit v. Economic Profit v. Normal Profit – Brace Map

IV. Classwork 

  • Worksheet 52.1 & 52.2 on iLearn
Oct 21

Economics – 10/22/19

I.  Bellwork

A Copy the table and complete the Marginal Product & Stage of Production Columns

(No graph – just the table)

Number of
Workers
Total
Product
Marginal
Product
Stage of
Production
00

14

212

322

434

538

640

736

830





II.  Objective

  • Complete a production schedule and graph a production function determining marginal product and identifying the various stages of production
  • Determine the meaning of words and phrases as they are used in relation to a production function..
  • Create and interpret economic models based upon production data in order to form decisions.

III.  Notebook Work

  • Process Map – Stages of the Production Function

IV.  Classwork

A.  Production-Function-Practice 

Turn in Schedule & Production Function Graph with labels

B.  Pg 130 2-5 – Attach with Part A

V. Quiz tomorrow

Oct 21

Accounting – 10/22/19

I. Bellwork on Google Classroom – Update Learning Plan

II.  Objectives

  • Reflect upon the previous card marking and develop goals for the 2nd card marking as well as identify means to achieve the goals.
  • Analyze incorrect journal entries and prepare correcting entries
  • Demonstrate how to correct errors made during posting

III.  Read and Discuss:  Pages 109-111

  • Journalizing Correcting Entries and Correcting Posting Errors

IV.   Quiz on Wednesday or Thursday– Determining balances on a Ledger

V.  Classwork 

  • Ledgers – Determining Balances
  • 4-3 Working Together & On Your Own (MindTap)
  • 4-3 Application Problem (Mind Tap)
Oct 21

Economics – 10/21/19

I. Bellwork: on Google Classroom – Update Learning Plan

II.  Objective

  • Identify how changes in labor result in changes in output. – Theory of Production
  • Construct a production function and analyze and explain the information it provides
  • Evaluate various explanations for actions or events and determine which explanation best accords with textual evidence

III.  Diminishing Returns and the Production Function- Micro Topic 3.1

IV.   Notebook work – Page 128

  • Production Schedule & Function
  • Process Map – Stages of the Production Function

V.   Classwork

  • Worksheet 54.3 on iLearn
  • 3.1 worksheet on iLearn