Introduction to Business (Ch 1,2,3,&4)

Our Economic Environment

Monday:   Economic -  Decisions & Systems & Roles & Measurements

1.      Finish reading pages 1-46

 

2.      The student is expected to know:  human wants are unlimited and to give examples; the three kinds of resources that are needed to produce goods and services; the importance of human resources in producing goods and services; how economic resources are limited; why the basic economic problem forces us to make choices; the six steps in the decision-making process.

3.      Homework:  StudyGuide pages 1-6

4.      Students should know:  the three economic questions that must be answered by every society; the three types of economic systems; how to identify five features of our market economy; how to explain the statement that people are entitled to make profits from their  business ventures; why competition generally results in better service and more goods at lower cost; who owns or controls the economics resources under capitalism, socialism and               communism.

5.      Homework:  StudyGuide pages 7-10  

 

Wednesday:

1.      Students should know:  the three economic roles each person plays; how dollar votes help create demand; the effect that competition has on prices; how your worker role supports your consumer role; one example to show the importance of productivity in your worker role; tow examples of economic citizenship.

2.      Homework:  StudyGuide pp 11-14

3.      Students must know:  How Gross Domestic Product (GDP) is used as a measure of economic growth; how per capita output is determined; an example to explain how productivity is related to the standard of living; the economic conditions in the four phases of the business cycle; the three economic problems that our country faces.

4.      Homework:  StudyGuide pp 14-20  

        

5.      Current Events (each student will have an opportunity to share with the class and article or news story which relates to the topics covered during the week.  Counts for extra credit

Review the chapters for the test Friday

Friday:

1.      UNIT 1 TEST

2.      Current Events (each student will have an opportunity to share with the class and article or news story which relates to the topics covered during the week.