1. Sponge Which of the following is an example of a capital investment for a retail store? A. Buying ads in local newspapers B. Hiring sales clerks and managers C. Buying cash registers and displays D. Renting retail space at a mall

2. Sponge If two people are packing and delivering food orders, what is the MOST efficient way to do the job? A. Both people work together to pack the orders and then deliver the orders together. B. One person packs and delivers half the orders; the other packs and delivers the other half of the orders. C. On Monday, one person packs all the orders, while the other delivers; the next day, they switch jobs. D. One person packs all the orders, and the other delivers all the orders.

3. 2.5 Week Assessment Results Overall SSEF1a (Scarcity) SSEF1b (Productive Resources) SSEF1d (Opportunity Costs) SSEF2a (Production Possibilities Curve) SSEF2b (Marginal Costs/Benefits) SSEF3a (Specialization/Division of Labor) SSEF6: Productivity 5 th Period 74.20%74%86%67%73%69%67%85%73% 2 nd Period 71.27%71%90%59%70%60%59%83%78%

4. PPC Shifts Practice Sketch Original PPC (AB) and new PPC (CD) described in the scenario. Also use arrows to show directional movement. 1.A farmer growing corn and soybeans invests in improved fertilizers and better irrigation equipment. 2. A country is currently investing in new technology for all its businesses. 3. A company recently made investments in new technology that will improve its production of both computers and DVD players. 4. Pfizer Pharmaceuticals announced last week the elimination of 10,000 jobs. 5. President Bush restricted imports of farm equipment. 6. In order to build a skyscraper, Builders Inc hires 400 construction workers and 50 managers. 7. New technology reduces production costs. 8. Influenza epidemic strikes Central City causing one- third of the city’s workforce to become sick. 9. A manufacturing company buys new machines for production. 10. A company fires 100 employees in all branches of its corporation.

5. Objectives: (SSEF3, SSEF6) Give examples of how individuals and businesses specialize Define productivity as the relationship of inputs to outputs Give illustrations of investment in equipment and technology and explain their relationship to economic growth Give examples of how investment in education can lead to a higher standard of living

6. Productivity Productivity = output of products input of resources (the quantity of output per unit of input) An increase in productivity means producing more goods/services with the same amount of resources (or fewer resources) Increased productivity leads to higher wages for workers

7. Specialization allows people to concentrate on a single activity or area of expertise

8. Division of Labor form of specialization in which the production of a product or service is divided into several separate tasks, each performed by one person

9. Capital Investment using some of an economy’s profits to buy new machines and equipment, research & implement new technologies, and improve the education of the workforce

10. Classwork: Productivity and Specialization Practice Complete the following questions from the 2.5 week Assessment:  Productivity: 22, 24, 26, 28, 29  Specialization: 5, 25, 27, 30

11. 2.5 Week Assessment Results Student Mastery Average SSEF1a (Scarcity) SSEF1b (Productive Resources) SSEF1d (Opportunity Costs) SSEF2a (Production Possibilities Curve) SSEF2b (Marginal Costs/Benefits) SSEF3a (Specialization/Division of Labor) SSEF6: Productivity 5 th Period 68.26% 86%67%73%69%67%72%44% 2 nd Period 71.27% 90%59%70%60%59%83%78%

12. Economics Help Groups Opportunity Costs, Trade-Offs – Shakeera Raines, Faron Manuel Production Possibilities Curve – Armand Dozier Marginal Costs/Marginal Benefits – Chris Hardy, Jemesh Hunter Factors of Production – Sheliah Turman

13. Economics Help Groups Productive Resources – Ailbreia Johnson Production Possibilities Curve – Roderick Walton, Marcus Webster Marginal Costs/Marginal Benefits – Saajidah Memfis, Colin Cook