I.  Bellwork: Q&A Page 137 #5-7 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 the video (3), explain what threatened their profits, how they responded to the challenge, and what was the outcome. 1.  Video […]

I.  Bellwork Q&A List 3 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. Discussion Pgs 132-137 and Notebook […]

I.  Bellwork A  Identify what happens to Total Product and Marginal Product at each stage (1-3) of the production function. Ex: 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.  Supply Curve Quiz IV.  Classwork A. 5-2 Guided Reading V.   Discussion: Pages 127-130 Theory of Production Figure 5.5 Graphs in Motion […]

I.  Bellwork: List and Explain using examples 3 reasons why the supply curve would shift to the right. List and Explain using examples 3 reasons why the supply curve would shift to the left. II. Objective Express supply graphically and analyze how the Law of Supply is represented III. Discussion:    A.  Individual and market […]

I. Bellwork Economic Analysis Page 118, 119 & 120 Q&A II. Objective Utilize supply schedules to express supply graphically and analyze how the Law of Supply is represented. III.  Notebook Work (Bubble Map) A.  Determinants which change Supply IV.  Classwork A.  Video – Economics USA Supply Q&A List some reasons why there was a lack […]

I. Bellwork Q&A A.  Pg 117 – Companies in the News 1.  What created a shortage of the flu vaccine? 2.  How did the market respond to the shortage? 3. 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. […]

I.  Bellwork: Determine whether the demand for the product is elastic, unit elastic, or inelastic based on the information in each case below.  Show your work.  Write Questions and Answers. If 5,000 units of a product are sold at a price of $20.00, and the price is later: increased to $30.00 resulting in 4,200 units […]

I.  Bellwork: Page 112 Review Content Vocabulary 1-10 – Write it out II.  Objective: Chapter 4 Assessment on Demand III. Turn in Review Sheet IV.  Notebook Work Page 113 #26 Page 113 Math Practice #29 a & b (Write questions and answers for b) V. Chapter 4 Exam

I.  Bellwork Q&A: List the 3 determinants of demand elasticity. Provide 2 examples of an inelastic product/service. (Be specific) II.  Objective: Identify factors that influence the size of a change in the quantity demanded (elasticity). Review for Chapter 4 Test III.  Discussion Short video on Demand Elasticity Elasticity Examples IV. Notebook- Tree Map: Elasticity Elasticity […]