Revenue, Costs, and Profit Activity-Marshmallow Towers

The video tutorial covers the concept of profit in business, emphasizing the importance of increasing revenue and reducing costs. It introduces a hands-on activity where students build towers using toothpicks and marshmallows, aiming to maximize profit by balancing height and cost. The tutorial explains how to calculate revenue and costs, including bonuses for tower integrity and strength. It also discusses fixed and opportunity costs, resource management, and the purchasing process. The session concludes with instructions for group work and planning to achieve the activity's objectives.

What are the two primary ways a business can increase its profit?

Explain the significance of keeping costs down while maximizing height in the tower-building activity.

How is revenue calculated based on the height of the tower?

What is the purpose of the integrity and strength bonuses in the activity?

What are the fixed costs associated with building the tower?

Describe the opportunity cost involved in the tower-building activity.

Why is it important to calculate both implicit and explicit costs in this activity?