Class,
We've talked about your age group and the technological advantages you possess. While this article was published just over a year ago, it is an example of the new technological advances in our society. I would like you to respond and let me know your thoughts on the article and how it relates to our topic of Supply and Demand.
Do you feel Amie Street, from the producer's point of view, is doing the correct thing by pricing the music by demand or popularity?
How do you feel, as a consumer, by the pricing strategy of Amie Street? Is it fair?
What is so impressive about the founders of the company?
Is this company still in business? Is so, what do you feel makes them successful?
Tomorrow in class we will review Surplus, Shortage, and Equilibrium; Supply and Demand Schedules and move to look at Demand Shifts.
C.A.N. I.!
Mr. Brannick
Tuesday, December 16, 2008
Thursday, December 4, 2008
Wednesday, December 3, 2008
Absolute Advantage v. Comparative Advantage
Class,
On Thursday we will have a quiz on section 1 of Chapter 4. The main focus in the chapter, thus far, has been: Trade, Opportunity Cost, Absolute and Comparative Advantage.
As a follow-up to today's lesson:
When we are comparing two issues:
Cars v. Cheese: take the focal point and put it over the comparative item. If we are looking at the country with the comparative advantage in production of cars, from today's lesson, then:
USA : 15hrs to produce 1 car/5hrs to produce 1 ton of cheese = an Opportunity Cost of 3 tons of cheese.
China: 4 hrs to produce 1 car/2 hrs to produce 1 ton of cheese = an Opportunity Cost of 2 tons of cheese.
Therefore: China has the Comparative advantage in the production of cars. (China gives up fewer units of chesse, when producing cars.)
To find the comparative advantage of production of cheese, simply reverse the numbers.
Questions? Thoughts? Concerns?
Thank you to my Lance Armstrong, Typist, Chef & Cleaner for your participation in class.
C.A.N. I.!
Mr. Brannick
On Thursday we will have a quiz on section 1 of Chapter 4. The main focus in the chapter, thus far, has been: Trade, Opportunity Cost, Absolute and Comparative Advantage.
As a follow-up to today's lesson:
When we are comparing two issues:
Cars v. Cheese: take the focal point and put it over the comparative item. If we are looking at the country with the comparative advantage in production of cars, from today's lesson, then:
USA : 15hrs to produce 1 car/5hrs to produce 1 ton of cheese = an Opportunity Cost of 3 tons of cheese.
China: 4 hrs to produce 1 car/2 hrs to produce 1 ton of cheese = an Opportunity Cost of 2 tons of cheese.
Therefore: China has the Comparative advantage in the production of cars. (China gives up fewer units of chesse, when producing cars.)
To find the comparative advantage of production of cheese, simply reverse the numbers.
Questions? Thoughts? Concerns?
Thank you to my Lance Armstrong, Typist, Chef & Cleaner for your participation in class.
C.A.N. I.!
Mr. Brannick
Monday, December 1, 2008
International Trade WebQuest
Class,
Click on the link below for Section 1 of the WebQuest. Once the page opens, scroll to, I. World Trade Developments in 2006 and select .pdf version. You will be able to answer the questions provided in class.
http://www.wto.org/english/res_e/statis_e/its2007_e/its07_toc_e.htm
For Section 3 click the link below and answer the questions provided in class:
http://www.taxanalysts.com/museum/1816-1860.htm
Mr. Brannick
Click on the link below for Section 1 of the WebQuest. Once the page opens, scroll to, I. World Trade Developments in 2006 and select .pdf version. You will be able to answer the questions provided in class.
http://www.wto.org/english/res_e/statis_e/its2007_e/its07_toc_e.htm
For Section 3 click the link below and answer the questions provided in class:
http://www.taxanalysts.com/museum/1816-1860.htm
Mr. Brannick
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