I.  Bellwork  – Claim /Evidence/Reasoning A.   Who do you believe is impacted the most by rationing, producers or consumers? – THINK State your claim, provide evidence, and reasoning. II.  Objectives Analyze how prices change through the interaction of buyers and sellers in a market including the role of supply, demand, equilibrium, shortages, and surpluses. Develop […]

I.  Bellwork Is Uber’s Surge-Pricing an Example of High-Tech Gouging? 3-2-1 Strategy- After reading the article, write and complete the following statements: (Must use 5 or more words) Three things I discovered/learned: Two things I found interesting: One question I have about this topic: II Objective Analyze how prices send signals and provide incentives to […]

I. Bellwork A. Turn in Review Sheet B. MLA heading on a separate sheet of paper II.  Objectives: Apply concepts and terminology involving supply and quantity supply Perform marginal and cost analysis to determine profit, profit-maximization, and the break-even point of production. III.  Chapter 5 Exam Part 1- Constructive Response Part 2 – Selected Response

i.  Bellwork: A.  Economics Skills Lab Supply Questions & Answers Identify the natural resource that is the focus of the article. What is impacting the supply of this resource? Based upon your previous answer, what determinant of supply would this be classified as? Construct a supply graph to illustrate this change in supply and explain […]

I.  Bellwork: Q&A A. Provide an example of 3 fixed costs a business may have. B. Provide an example of 3 variable costs a business may have C. Explain the difference between fixed and variable costs.. II. Objectives Construct and analyze the production function and to determine profit maximizing level of output. Determine the meaning […]

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: Construct a production function and identify the stages of production Create and interpret economic models based upon production data in order to form […]

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 0 0 1 4 2 12 3 22 4 34 5 38 6 40 7 36 8 30 II.  Objective Complete a production […]

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 […]

I. Bellwork: Look at Figure 5.4 on Page 124. A. Describe how the appearance of the 3 supply curves differ. B. Explain how their appearance relates to elasticity. 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 […]

  I.  Bellwork:  Illustrate each of the following by constructing a simple supply curve graph: USE ARROWS an increase in quantity supplied a decrease in supply an increase in supply a decrease in quantity supplied   II.  Objectives Apply concepts and principles to distinguish between a change in quantity demand and a change in demand […]