| |
OVERVIEW, LEARNING OBJECTIVES, CLASS PREPARATION
CHAPTER 1- Exploring the World of Business and Economics
|
|
OVERVIEW
This chapter accomplishes three important tasks. First, it sets the stage for the remainder of the course and provides reasons why students should study business. Second, it provides an overview of the economy, competition, and different types of economic systems. Finally, it links events in American history to the present American business system. These concepts are essential to a basic understanding of the American economic system as a whole. We begin Chapter 1 with a discussion of why students should study business and a definition of business. Then we explore the major types of economic systems. Next, we consider how a nation’s economy and productivity are measured. An examination of the major types of competition follows. Finally, we discuss the historical development of business in the United States and the challenges that businesses can expect to encounter in the future.
|
Learning Objectives
After studying this chapter, students should be able to:
1. Discuss their future in the world of business.
2. Define business and identify potential risks and rewards.
3. Define economics and describe the two types of economic systems: capitalism and command economy.
4. Identify the ways to measure economic performance.
5. Outline the four types of competition.
6. Summarize the factors that affect the business environment and the challenges that American businesses will encounter in the future. |
| Class Preparation |
Format for Discussion Questions: Typed, (Question in bold) followed by double space and then your answer.
Assignments may be
submitted in class paper copy, email, or via Blackboard.
Late assgnments will recieve a maximum of 50% credit
CLASS PREPARATION
READ: Chapter 1, Video Case 1.1 Be prepared to Discuss the four questions at the end of the case
Answer Discussion Questions 2,3,5
Complete Journal Exercise
|
| Crossword: Please download to desktop then open |
