Tuesday, February 22, 2011

Honors Business Economics: 22 February 2011

Prayer
Beyond the Sound Bites:



And, to add to the insult, the school system has underperformed for the past four years.

The Chapter 5 Test Prep Page is available for Thursday.

The Ch. 5 Sec. 3 Quiz Make-up is today.

The Ch. 5 Sec. 2 Make-up Quiz is today.

The Ch. 5 Sec. 1 Quiz Make-up is today.

Skip #16 and #35; do not answer on the Test.

The Chapter 4 Test Make-up is today.

Cf. http://shanawiki.wikispaces.com/Honors+Business+Economics+Chapter+4+Test+Prep+Page+Spring+2011

The Ch. 4 Sec. 3 Quiz Make-up is today.

Standard feature:

The electronic edition of the Philadelphia Inquirer is available. We have the Sunday edition, available on Mondays, in addition to the Tuesday through Friday editions on the other days.

Please follow the steps below:

URL: http://nie.philly.com
Click on the words "Access e-Inquirer" located on the gray toolbar underneath the green locker on the opening page.
Login:
Username: bshsinky@shanahan.org
Password: 10888

Reference

Cf. http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit2/chapter7/

Chapter 7: Market Structures

Section 3 The Role of Government

The role of government has expanded to preserve competitive markets. This has taken the form of antitrust legislation that outlaws trusts and various forms of price discrimination. As a result, the economy has been modified so that it is now a mixture of different market structures, different forms of business organizations, and some degree of government regulation.

Content Vocabulary

trust

price discrimination, 3:59

In-class assignment, with a partner, answer the following.

What does price discrimination mean?
Does a firm charge different prices for the same product?
Why (in an economic phrase) can they do this?
Explain the role of marginal revenue in price discrimination.
Why would a firm split their market like this?
(The practice can not be done if it lessens competition--cf. Clayton Antitrust Act)

http://www.youtube.com/watch?v=4NNGP9gWnSg

cease and desist order

public disclosure

Academic Vocabulary

Ch. 7 Sec. 3 Reading Strategy

In-class assignment, with a partner, complete the graphic organizer by describing how governments try to avoid market failures.


Products in the News

Electric Bass Recalled

Maintain Competition

Antitrust Legislation

Government Regulation

4th

Do Government Regulations Actually Help Big Business? - Tim Carney, 4:26

Is third-party testing expensive?
Is it more difficult for a small business to comply with regulations?
Do the large companies get exemptions from compliance with regulations?
Can large companies use in-house testers for compliance?
Altria Group is the parent company of what tobacco company?
Did the Altria Group help draft the legislation to regulate tobacco companies?
Why did Nike favor regulation in the United States?
Where are their shoes manufactured: U.S. or abroad?
Are Nike's competitors harmed by regulations?
What is the effect of regulations on smaller businesses hoping to grow and compete with big businesses?

Tim Carney, Cato Enterprise Institute's Warren T. Brookes Journalism Fellow, is the author of The BIG Ripoff: How Big Business and Big Government Steal Your Money (Wiley, 2006).

He was a 2004-2005 Phillips Foundation Journalism fellow, and before that he was a political reporter for Bob Novak and Assistant Editor at Human Events. He is a columnist for America's Future Foundation's webzine Brainwash, and is a contributing editor to Human Events.


Obama declared himself "95 percent cured." But he also acknowledged times "where I mess up." cf. AP 2/8/2011

Reading Check

Describing

Why are some government regulations beneficial for consumers?

Improve Economic Efficiency

Promote Transparency

Provide Public Goods

7th

The Rahn Curve and the Growth-Maximizing Level of Government, 5:43

When does providing public goods increase economic performance?
What happens if government spending increases too much?
Does this reduce prosperity?
What do scholars generally conclude that economic performance is maximized? Between what percentage of GDP?
What other policies also impact growth?
Most nations in Europe and North America had large or modest (small) levels of government for most of their history?
What can we say for sure?



Reading Check

Interpreting

What negative things could happen in a market without disclosure?

Modified Free Enterprise

Reading Check

Summarizing

Why do we use the term modified to describe the American free enterprise economy?

Ch. 7 Sec. 3 Review

In-class assignment, with a partner, use the graphic organizer to identify how the federal government can maintain competition and improve economic efficiency.


http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit2/chapter7/student_web_activities.html
Case Study Pixar and Disney

References

Ch. 5 Prep

Chapter 5 Supply Multiple Choice Quiz

Cf. http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit2/chapter5/self-check_quizzes.html

Chapter 5 Puzzle

Cf. http://www.glencoe.com/olc_games/game_engine/content/gln_ss/epp_08/ch05/index.html

Chapter 5 Supply Flashcards

Cf. http://www.glencoe.com/qe/efcsec.php?qi=15424

Ch. 6 Prep

Chapter 6: Prices and Decision Making
Multiple Choice Quiz

Cf. http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit2/chapter6/self-check_quizzes.html

ePuzzle Concentration

Cf. http://www.glencoe.com/olc_games/game_engine/content/gln_ss/epp_05/chapter06/index.html

Academic, Glossary, People/Places/Events

Cf. http://www.glencoe.com/qe/efcsec.php?qi=15429

Chapter 7 Resources

Cf. http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit2/chapter7/

Preview

Unit 3: Economic Institutions and Issues

Chapters 8-11

Cf. http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit3/

Chapter 8: Employment, Labor, and Wages

Chapter 8 - The American Labor Force

Cf. http://www.glencoe.com/video_library/index_with_mods.php?PROGRAM=9780078747649&VIDEO=4763&CHAPTER=8&MODE=2

Section 1: The Labor Movement

A description is given of the growth of the labor movement from its roots in craft unions to industrial unions. Organized labor was generally unpopular until the Great Depression, but labor made great strides during the 1930s and did not lose public favor again until after the end of World War II when the Taft-Hartley Act was passed in 1947. During early development of union, the two types of unions are the craft or trade union and the industrial union, and their actions consisted of striking, picketing, and boycotting. In today’s society, the union arrangements consist of closed shop, union, shop, modified union shop, and agency shop.

Student Web Activity

"Labor Unions and the AFL-CIO"

Introduction
The American Federation of Labor (AFL) began in 1886 as an organization of craft unions. Later, it added several industrial unions. The trade and industrial unions did not always agree over the future of the union movement. Consequently, eight of the AFL industrial unions formed the Committee for Industrial Organization (CIO) in 1935. In 1955, after almost twenty years of disagreement, the AFL and CIO finally settled most of their differences and joined to form the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO). In this activity you will learn more about the AFL-CIO and its role in our modern economy.

Destination Title: AFL-CIO

Directions
Start at the AFL-CIO home page.

* Click on "About Us" for information about this labor organization
* Browse through the various categories and then answer the following questions.

1. What are the goals described in the AFL-CIO's mission statement?

2. What are some of the accomplishments of the AFL-CIO?

3. Select the "Union facts" link and read through the text on the page. What reasons are given for why people join unions?

4. Next, select the link "State and Local Union Movements" from the menu on the left. Select your state from the map. List at least two labor councils active in your state.

Figure 8.5 Market Theory of Wage Determination

Cf. http://glencoe.com/sites/common_assets/socialstudies/in_motion_08/epp/EPP_p209.swf

Interactive Graphic Organizers

Section 1 The Labor Movement

Section Preview

Content Vocabulary

craft union

trade union

industrial union

strike

picket

boycott

lockout

company union

Great Depression

right-to-work law

independent union

closed shop

union shop

modified union shop

agency shop

civilian labor force

Chapter 8, Section 1 - Reading Strategy

In-class assignment: with a partner, fill in the graphic organizer.

Note major events in the history of the U.S. labor movement by completing the time line.



Cf. http://glencoe.com/sites/common_assets/socialstudies/igo_08/epp/ch_08/EPP_ch08_sec1_1.pdf

Chapter 8, Section 1 - Review

Cf. http://glencoe.com/sites/common_assets/socialstudies/igo_08/epp/ch_08/EPP_ch08_sec1_2.pdf

Chapter 8, Section 2 - Reading Strategy

Cf. http://glencoe.com/sites/common_assets/socialstudies/igo_08/epp/ch_08/EPP_ch08_sec2_1.pdf

Chapter 8, Section 2 - Review

Cf. http://glencoe.com/sites/common_assets/socialstudies/igo_08/epp/ch_08/EPP_ch08_sec2_2.pdf

Chapter 8, Section 3 - Reading Strategy

Cf. http://glencoe.com/sites/common_assets/socialstudies/igo_08/epp/ch_08/EPP_ch08_sec3_1.pdf

Chapter 8, Section 3 - Review

Cf. http://glencoe.com/sites/common_assets/socialstudies/igo_08/epp/ch_08/EPP_ch08_sec3_2.pdf

Chapter 8 Crossword Puzzle

Cf. http://www.glencoe.com/olc_games/game_engine/content/gln_ss/epp_08/ch08/index.html

Vocabulary Flashcard

Cf. http://www.glencoe.com/qe/efcsec.php?qi=15443

Self-check Quiz

Cf. http://glencoe.mcgraw-hill.com/sites/0078747643/student_view0/unit3/chapter8/self-check_quizzes.html

The Chapter 5 Test Prep Page is available for Thursday.

Email (or hand in hard copy) to gmsmith@shanahan.org.

Tuesday HW
1. p. 175, Economic Analysis
2. p. 177, #1-2
Wednesday HW
1. p. 183, #2, 4-5
Thursday HW
1. p. 186, Economic Analysis; p. 187, Economic Analysis, p. 189, #3
Friday HW
1. p. 189, #4