| Steven M. Reff Economics Lecturer University of Arizona (2007 - 2016) The 2015 University of Arizona Five-Star Faculty Award |
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| Standard 7: Costs and Revenue of Doing Business |
| Week 8: Cost and Revenue of Doing Business |
| Estimated Learning Time: 4 to 6 class periods (45 min. each) |
| "An on-level high school economics unit on the costs of doing business covers the fundamental financial components of production, focusing on distinguishing between fixed and variable costs to determine profitability. Key topics include calculating total costs, average costs, marginal costs/revenue, and identifying break-even points, alongside understanding labor costs and production efficiency." Ask Google AI 1 |
(Make sure you take the 3 multiple choice questions underneath the video.)
(Make sure you take the 3 multiple choice questions underneath the video.)
(Make sure you take the 3 multiple choice questions underneath the video.)
Reading Assignment -- Chapter 8, Part I:
Video Book -- Chapter 8:
Interactive Activities -- Chapter 8:
| Standard 7 - 8: Test Yourself on Weeks 7 - 8 |
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(Make sure you take the 3 multiple choice questions underneath the video.)
(3:15 minutes)
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| Standard 7: Costs of Hiring Labor |
| "The costs of hiring labor are covered in on-level high school economics courses, primarily within the study of microeconomics and labor markets." Ask Google AI 2 |
Reading Assignment -- Chapter 8, Part II:
Video Book -- Chapter 8, Part II:
Interactive Activities -- Chapter 8, Part II:
(Make sure you take the 3 multiple choice questions underneath the video.)
(3:46 minutes)
(3:51 minutes)
(3:03 minutes)
(3:53 minutes)
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| Standard 7: Cost of Advertising |
| "An on-level high school economics unit on advertising covers how marketing influences consumer behavior, shapes demand, and impacts market competition. Key concepts include identifying advertising techniques (e.g., emotional appeal, celebrity endorsements), the 4 P's of marketing (product, price, place, promotion), target marketing . . ." Ask Google AI 3 |
Reading Assignment -- Chapter 8, Part III:
(Make sure you take the 3 multiple choice questions underneath the video.)
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| Standard 7: Different Types of Market Structure |
| "In an on-level high school economics course, the unit on market structures focuses on how the degree of competition within an industry influences the behavior of firms and the prices paid by consumers." Ask Google AI 7 |
Reading Assignment -- Chapter 9:
Video Book -- Chapter 9:
Interactive Activities -- Chapter 9:
(Make sure you take the 3 multiple choice questions underneath the video.)
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(3:13 minutes)
(3:16 minutes)
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| IMPORTANT: The links below are Microsoft Power Points. When the PowerPoint opens inside a new browser window, click INSIDE each slide to use the INTERACTIVE version of each slide. DO NOT just clicking on the forward and backward arrows for each slide, which makes it NON-INTERACTIVE. |
| See if You Smart Enough to Answer College-Level Questions about Labor Costs? |
The video below is a lecture presented by a former Chairman and CEO of Beeline Fashions to
a group of Economics Educators in Southern Arizona in 2007 on the topic of
"Deskmanship -- How to Be Organized to Run a Corporation."
Even though the advice he discusses in this video is from the 1980s, you are hopefully smart
enough to apply his principles of time management to today's technology. This video will
help you if you ever want to achieve a manager's position or even higher career positions.
a group of Economics Educators in Southern Arizona in 2007 on the topic of
"Deskmanship -- How to Be Organized to Run a Corporation."
Even though the advice he discusses in this video is from the 1980s, you are hopefully smart
enough to apply his principles of time management to today's technology. This video will
help you if you ever want to achieve a manager's position or even higher career positions.
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| Standard 7: Business Advice on Time Management |
Video Assignment (25 minutes)
In the first minute, he describes how he had to make the decision for the company to
purchase IBM mainframe computers that cost millions of dollars three years in advance . . .
purchase IBM mainframe computers that cost millions of dollars three years in advance . . .
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| Standard 7: Advice on Public Speaking to Large Audiences |
| "Public speaking is often described as the "number one" or a "force multiplier" skill for corporate advancement. Executives who are confident speakers are 70% more likely to be promoted into management roles. Mastering this skill supports your upward trajectory in several ways: Visibility & Recognition: Speaking at conferences, leading workshops, or even presenting in internal meetings puts you "on the radar" of senior leadership. Decision-makers are more likely to remember and trust those who can clearly articulate complex ideas. Executive Presence: Public speaking builds the "stage authority" and "calm-assertive" demeanor needed to command respect in boardrooms. Leadership Development: Higher corporate levels transition from "doing" to "leading." Success at these levels depends on your ability to inspire a team, communicate a vision, and move an audience to action. Financial Impact: Fear of public speaking can reduce potential annual earnings by 10% and hinder promotion chances by 15%. Conversely, training in this area is estimated to boost salaries by roughly 10%." Ask Google AI 5 |
| Beeline Fashions was a major American direct-sales clothing company popular from the 1960s to the 1980s, operating similarly to Tupperware by using home "fashion parties" where stylists sold coordinated, moderately priced, and versatile apparel. The company offered women flexible, part-time work, peaking in 1979 with 20,000 independent contractors and $60 million in annual sales. Ask Google AI 4 |
Reading and Video Assignment -- Presenting a Speech in Front of Large Audiences