introtopics

--Explain the basic economic problem
(1) Distinguish between needs and wants
(2) Explain the difference between goods and services
(3) Describe the economic resources used in the production of goods and services

--Describe several features of our market economy
(1) List the three economic questions that must be answered by every society
(2) Describe three types of economic systems
(3) Identify five features of our market economy
(4) Explain why economies are mixed systems
(5) Explain why market economies are becoming common around the world

--Cite examples to show how each of your three economic roles is important in our economic system.
(1) Identify three economic roles each person performs
(2) Explain how consumers affect the supply and demand for goods and services
(3) Understand the impact of work productivity on our standard of living
(4) Recognize the role of citizens in our economy

--Explain three ways to measure economic progress.
(1) Explain how Gross Domestic Product (GDP), GDP per capita, and labor productivity are used as measurements of economic performance
(2) Describe the four phases of the business cycle
(3) Define inflation and deflation

--Explain the role and function of business in the U.S. economy
(1) Distinguish the four basic kinds of businesses
(2) Recognize seven kinds of activities performed by businesses
(3) Understand how jobs are created in our economy

--Cite examples of three types of business ownership
(1) Understand how ownership differs among sole proprietorships, partnerships, and corporations
(2) Grasp the advantages and disadvantages of the three major types of business ownership
(3) Learn the five functions of managers
(4) Recognize three specialized forms of business organizations

--Describe leadership characteristics and human relations skills needed by managers.
(1) Discuss the common characteristics of effective leaders
(2) Explain the five human relations skills needed by managers
(3) Identify four types of influence that leaders use
(4) Describe the two main types of leadership styles

--Describe how small businesses can successfully produce and market products and services.
(1) List common maketing activities and define the marketing concept
(2) Explain the two steps in marketing planning
(3) Explain the advantage of small businesses in providing customer service

--Describes the social and ethical responsibilities of business

--Cites ways inwhich international business is important to the U.S. economy

--Explains how business is aided by government

--Explains the important steps of organizing and managing a small business

--Demonstrates the value of employees to a small business

--Explains the important financial records in small businesses and how financial information is used

--Explains the components used in different computer systems

--Identifies computer uses in business and other organizations

--Describes how technology is changing our busiess and personal lives

--Describe our U.S. workforce.
(1) Explain why human resources are a vital economic force
(2) Identify types of industries and occupational groups in our work force
(3) Discuss factors that affect job opportunities and how the workplace is changing

--Explain how to plan for a career
(1) Explain career planning and list sources of career information
(2) Discuss approaches that can be taken to learn about values and abilities
(3) Describe five steps to follow when making career decisions
(4) Identify sources for financing additional education

--Discuss what must be done to find and secure a job
(1) Discuss how to compose a letter of application and a personal data sheet and how to fill out an employment application form
(2) Explain how to prepare for a good interview
(3) Describe how pre-employment tests are used by employers
(4) Identify qualities that lead to success on the job

--Explain the nature of a small business and describe the characteristics of successful small-business owners
(1) Define a small business
(2) Identify reasons why small businesses fail
(3) Describe several sources of help for small-business owners
(4) List characteristics of sucessful small-business owners