Bell Ringer Define Productivity. List 3 ways to increase Productivity For each way to increase productivity give one example and one benefit for using that method. Explain which way to increase productivity has the biggest effect and why.

Ways to Increase Productivity Worker Knowledge Increase in Human Capital How does worker knowledge increase productivity? Specialization: What is specialization? How does specialization increase productivity? What are 3 jobs that are specialized? Technology How does technology increase productivity?

What examples of ways to increase productivity do we see in the video? How would the second example increase productivity more than the first? Explain your answers and the benefits.

Productivity Advantages and Disadvantages

What do these businesses have in common? Amazon Hewlett Packard Microsoft Disney Harley Davidson Apple Mattel

Key Economic Ideas Supply Demand Price Opportunity Cost Needs Wants Scarcity Factors of Production Productivity TRY TO CONNECT ANY OF THESE ECONOMIC IDEAS INTO YOUR ASSIGNMENT TODAY.

Productivity Productivity is a measure of output resulting from the use of an input Inputs: The factors of production that are used in the production process. Natural Resources - Human Resources - Capital Resources Output: The amount of goods or services produced in a given time period.

Product Choose a product that you would like to make at home by hand.

Advantages List 3 advantages for making your product by hand. Explain each of your advantages.

Disadvantages List 3 disadvantages for making your product by hand. Explain each of your disadvantages.

Factory Life You have decided to move your company from your garage to a factory. (Click Here) Explain why a company would need to upgrade in size.

Advantages List 3 advantages for making your product in a factory. Hint: Remember the ways to increase productivity. Make connections with those ideas to our other economic ideas we talked about earlier. Explain each of your advantages.

Disadvantages List 3 disadvantages for making your product in a factory. Hint: Think about how the ways to increase productivity and how those might hurt a company, its product, and/or price. Explain each of your disadvantages.