I. Bellwork List 3 goods or services you have recently purchased. For each, explain how price may have influenced your decision regarding the items you purchased. II. Objective Analyze how prices send signals and provide incentives to buyers and sellers in a competitive market. III.    Discussion: Prices as Signal Pages 142-146 Videos –  Rationing […]

I.  Bellwork Q&A A. Chapter 5 Enrichment 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. III. Economics – Content Vocabulary Activities– IV.  Chapter 5 Exam

I.  Bellwork:  Draw diagrams & answer Page 141- #34 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. III. Classwork Reteaching Chapter 5 Chapter-5-Review1 Chapter 5-1 iLearn Quiz Review IV. Chapter 5 […]

I.  Bellwork: 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 traditional businesses? II. Objective: Examine how businesses analyze their costs and revenues to maximize profits. III. Discussion: Cost/Revenue/Profit Maximization Pages 132-137 Production-Schedules-5-2-5-3 IV. Classwork A.  For each industry/business featured in […]

I.  Bellwork  Q&A List 2 expenses/costs associated with operating a business. List one expense/cost that would vary depending on the level of production. List one expense/cost that would remain the same regardless of the level of production. II. Objective Determine how businesses analyze their costs and revenues to maximize profits. III. Production Function Quiz IV.  Discussion […]

I.  Bellwork Reading Check Page 129 Reading Check Page 130 II. Objectives Examine how changes in labor affect output. – Theory of Production Construct a production function and identify the stages of production III. Notebook Work A.  Production Schedule Graphing (1st example stays in notebook)-Finish it IV.  Classwork A.  Production Function Practice B.  Page 130 2-6 […]

I.  Bellwork A  Identify what happens (increase/decrease) to Total Product and Marginal Product at each stage (1-3) of the production function                           Total Product                     Marginal Product Stage 1          ——————–                     —————— Stage 2          ——————–                     ——————— Stage 3          ——————– […]

I.  Bellwork: Page 126 Analyzing the Impact 1-2 Q&A What year did ethanol production decrease? –See Graph II. Objective Examine how changes in labor result in changes in output. – Theory of Production III. Notebook Check tomorrow IV.  Supply Curve Quiz V.  Classwork A. 5-2 Guided Reading VI.   Discussion: Pages 127-130 Theory of Production Figure […]