Introduce your students to the basic concepts behind production costs and lay the foundation for economic comprehension with this fantastic bundle!
This "Production Costs" activity bundle includes:
1) A customizable lecture that you can adjust to meet your needs and the needs of
your students. This bundle includes a version of this lecture in Keynote (Mac),
Powerpoint (PC), and PDF format for users of every operating system.
*****Depending on the version of the presentation software that you use to present in your classroom, fonts and sizes in our lecture presentations may need adjustment. To make it easier for you to create a lecture that engages your students and looks like the PDF file included in this bundle, we offer downloadable font bundles in our store for FREE!
At absolutely no cost to you, you can get your hands on the fonts that we use in our lectures so that you can customize your presentations. Download the Free Font Bundle, install the fonts onto your computer, and customize your lecture in the way that works of you. Adjust sizes, fonts, images, and content to meet your needs and the needs of your students!*******
2) A "Production Costs" Activity. It begins with a colorful graphic organizer that asks your students to define accounting costs and profits as well as economic costs and profits. Next, students will define total cost, variable cost, and fixed cost, and then use data provided to calculate the total cost, variable cost, and fixed cost for a firm. Next, students will be asked to practice using total production costs to calculate the average fixed, average variable, and average total costs for a firm at different levels of output. Your class will then be required to define marginal cost and use data provided to calculate the marginal revenue and marginal cost for a firm at various levels of production. Finally, students will use their knowledge and a collection of data provided to analyze changes in total and per-unit costs for a firm and answer questions about what per-unit costs do as production levels change. Your students will have the opportunity to think at multiple levels and infer as to the relationship between per-unit fixed and total costs and quantity of output, as well as the relationship between marginal cost and marginal product.
This activity can be used in many different ways in the classroom. Students can work independently, in pairs or this activity can be used as a jigsaw in order to facilitate a class wide discussion about the topics discussed in the activity.
3) A detailed answer key to the lesson activity to save you time and help guide student comprehension.
If you like this activity, check out our Unit Activity Bundle that includes activities for all of the objectives in this unit.
Best of all, this activity aligns to our "Unit 3.2 - Production Costs" video lecture, which can be found here:
For more of our video lectures, check out our "You/Will/Love Economics" YouTube channel and subscribe for upcoming videos:
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Flip your classroom and the way your students learn economics TODAY!