Economics – 10/29/13
I. Bellwork:
A. Section 5-3 Q&A
- Explain why electricity is considered to be a variable cost.
- 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 Thursday – Chapter-5-Review1
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