1. BUSINESS HIGH SCHOOL-ECONOMICS
Cost, Revenue and Profit Maximization
Law of Supply
Supply curve
Theory of Production
Supply
Unit 3
Government Regulations
Productivity
Essential Learning Expectations:
Understand the causes of change in quantity supplied.
Know the causes for elasticity of supply.
Define the law of variable proportions.
Explain the production function.
List the three stages of production.
Learn the measures of cost.
Discuss measures of revenue.
Content Vocabulary:
Supply elasticity
Law of supply
Subsidies
Short run
Long run
Market supply curve
Law of variable proportions