Reflective Blog (21 March 2014)
For this week, we learned from the suppliers point-of-view. Instead of doing demand curve and schedule, we learned about supply curve and schedule. The supply curve goes from bottom left to top right, unlike a demand curve, which should go from top left to bottom right. We also did a fun activities like drawing a scooter with unique features, which we got to estimate the cost to build it and our profit. We watch a video too that help us understand fixed cost and variable cost (it has puppies!). We also have to fill in the tables for supply schedules. We learned the six factors of that affects supply which are government actions, technology, number of producers, labor, input cost, and producer expectations. On Thursday, we sadly did not finish our quiz or test (don't remember which one it was) and have to finish it on Friday. This is related to economics because this can help you determine how to use your resource the most efficiently and how to get the most profit out of the product.
P.S., Weserville has been flooded! Someone send help! I am trap with Jean Yanez, and I am sick and tired of hearing Colin and his ex-wife arguing! I also never knew that they live on my property (actually my aunt's). The back road for Walmart has collapse too, so this might take a long while for Walmart to come. Also, how in the world are we going to pay for all these damages. We are already poor and we still need to finish building Walmart. Mayor please save my children! I lost my son, well actually he is on Yanez's house, but you know what I mean.