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Do NowDescribe the slopes and relationships found in the

following graph:

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Objectives P5, T1Business Calculus

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Agenda

1

2

3

4

Homework Questions10 minutes

OBJ P520 minutes

Prom Planning!10 minutes

5 OBJ T115 minutes

Discuss Do Now5 minutes

6 Practice Assessment P20 minutes

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Homework Questions

Ask now, because there is an assessment coming upnext week!

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P5: Compareand contrast constantandvariable relationshipsindata.

We have discussed relationships in data, and all theexamples have been linear so far.

What does it mean to be linear? (Yes, it is a straightline. Think about it in terms of relationship between xand y.)

How would you answer change if the line were curvedinstead of straight?

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P5: Compareand contrast constantandvariable relationshipsindata.

This is the difference between a constantrelationship between x and y (it is the sameeverywhere)

and a variable relationship between x and y (itchanges depending on where you look on the graph).

Very often, graphs in economics will not be the sameeverywhere (linear). There will be different relationshipsto explore.

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P5: Compareand contrast constantandvariable relationshipsindata.

Sunflower Seed GraphsIan and his friends were sitting on a deck and eating sunflower seeds. Each personhad a bowl with the same amount of seeds. The graphs below all show the amountof sunflower seeds remaining in the persons bowl over a period of time. Describewhat may have happened for each person.

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P5: Compareand contrast constantandvariable relationshipsindata.

Multiple Choice QuestionMatch the following statement with the correct graph and explain your answer: Achild swings on a swing while her parent watches from the back of the swing.

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P5: Compareand contrast constantandvariable relationshipsindata.

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P5: Compareand contrast constantandvariable relationshipsindata.

Summary:

- Constant relationships look linear and have constantslope.

- Variable relationships look curved and have varyingslope.

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T1: Definescarcityandexplainhow itgives riseto thefield ofeconomics.

Planning the Prom! Activity

Get into groups of 3 or 4 (no larger). In your group you

will decide the band, venue, and food choices for yourprom. You only have so much money to spend, so thinkbefore you buy!

You have 10 minutes to discuss the options and comeup with a decision.

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T1: Definescarcityandexplainhow itgives riseto thefield ofeconomics.

Planning the Prom! Activity

Questions to consider:

1) What made the decision difficult?2) Why did a decision even need to made?

3) How can you relate this to the decisions made by anindividual in life (or a family)?

4) How can you relate this to decisions a businessmakes?

5) Why do you think decisions like these gives rise tothe field of economics?

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T1: Definescarcityandexplainhow itgives riseto thefield ofeconomics.

Scarcity

Defn: Inability to satisfy all our wants due to limited

resources.

Faced with scarcity, we are forced to make choices. Thestudy of what choices should be made is called

economics.

Agood is scarce if it is desirable, but in limitedavailability.

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T1: Definescarcityandexplainhow itgives riseto thefield ofeconomics.

Which of the following items are scarce?

- Water

- Clean, drinking water- Potatoes

- Cars

- Tuberculosis

- Education

- Health

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T1: Definescarcityandexplainhow itgives riseto thefield ofeconomics.

Summary:

- Scarcity forces choices.

- Economics studies choices.

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AssessmentP:Tuesday, Sept14th.

Take a look at the practice assessment to get anunderstanding of what the actual assessment will looklike.

To study:

- Use organic notes to review each objective.

- Use HW to see sample problems for each objective.

- Ask questions if you have them!