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Sponge

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

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Sponge

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  1. Sponge Which of the following is an example of a capital investment for a retail store? • Buying ads in local newspapers • Hiring sales clerks and managers • Buying cash registers and displays • 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? • Both people work together to pack the orders and then deliver the orders together. • One person packs and delivers half the orders; the other packs and delivers the other half of the orders. • On Monday, one person packs all the orders, while the other delivers; the next day, they switch jobs. • One person packs all the orders, and the other delivers all the orders.

  3. 2.5 Week Assessment Results

  4. PPC Shifts Practice

  5. Improving Productivity 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

  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

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