The Business Environment
What is economics?
- LAP-EC-014 Explain the concept of economic resources
Objectives (nothing needed for this)
a. Define the following terms: economic resources, natural resources, capital goods, human resources,
and factors of production.
b. List reasons that economic resources are important for business.
c. Explain why natural resources are limited.
d. Describe ways that businesses respond to limited natural resources.
e. Explain why human resources are limited.
f. Describe ways that businesses respond to limited human resources.
g. Explain why capital goods are limited.
h. Describe ways that businesses respond to limited capital goods.
a. Define the following terms: economic resources, natural resources, capital goods, human resources,
and factors of production.
b. List reasons that economic resources are important for business.
c. Explain why natural resources are limited.
d. Describe ways that businesses respond to limited natural resources.
e. Explain why human resources are limited.
f. Describe ways that businesses respond to limited human resources.
g. Explain why capital goods are limited.
h. Describe ways that businesses respond to limited capital goods.
Videos
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Three types of economic resources:
Factors of production. |
Economic resources presentation.
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Episode 3: Resources.
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The future of renewable energy
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Reading - 20 minutes
Go to Google Classroom and read the student handout titled Be Resourceful.
Go to Google Classroom and read the student handout titled Be Resourceful.
Presentation and Discussion - 60 minutes
You will be assigned a slide for the presentation. Research your topic and be prepared with a discussion question for the class.
You will be assigned a slide for the presentation. Research your topic and be prepared with a discussion question for the class.
You Decide - 15 minutes
These activities are designed to reinforce individual student understanding of economic resources. Go to Google Classroom and complete the assignment. We will discuss after about "HOW COULD THE RESOURCE BECOME LIMITED?" and "HOW MIGHT BUSINESS RESPOND TO A SHORTAGE?"
These activities are designed to reinforce individual student understanding of economic resources. Go to Google Classroom and complete the assignment. We will discuss after about "HOW COULD THE RESOURCE BECOME LIMITED?" and "HOW MIGHT BUSINESS RESPOND TO A SHORTAGE?"
Resources at Work - 20 minutes
Go to Google Classroom and check out the Google Document. Working with your business partner. Complete the assignment. In the space provided, identify economic resources that a local business uses. If applicable, focus on the business where you work or have worked. Or, interview another student or an adult to find out what economic resources are used at their place of employment. Explain how the economic resources became limited and how the business reacted.
Go to Google Classroom and check out the Google Document. Working with your business partner. Complete the assignment. In the space provided, identify economic resources that a local business uses. If applicable, focus on the business where you work or have worked. Or, interview another student or an adult to find out what economic resources are used at their place of employment. Explain how the economic resources became limited and how the business reacted.
Ethics Case - 10 minutes
Create a Google document and respond to the following questions. Work on this assignment individually or with ONE partner. Answer in complete sentences. Font should be "Times New Roman", size 12, double-spaced, margins 1". When finished, each person will upload their own document to our Google Classroom.
Amal is the manager of a restaurant. One busy weekend, all of the cooks and bussers at the restaurant decide to go on strike. Amal is stuck with a shortage of human resources. She needs workers to keep her restaurant running, but she sympathizes with her current employees and does not want them to lose their jobs.
Create a Google document and respond to the following questions. Work on this assignment individually or with ONE partner. Answer in complete sentences. Font should be "Times New Roman", size 12, double-spaced, margins 1". When finished, each person will upload their own document to our Google Classroom.
Amal is the manager of a restaurant. One busy weekend, all of the cooks and bussers at the restaurant decide to go on strike. Amal is stuck with a shortage of human resources. She needs workers to keep her restaurant running, but she sympathizes with her current employees and does not want them to lose their jobs.
- Is it ethical for Amal to hire temporary, cheaper workers to replace those on strike? Why or why not?
- What could Amal do instead? (Ethical Principles Involved: Integrity, Trust, Fairness, Respect)
Activity 1 - 10 minutes
Round #1
Assign a different category of economic resources to each group. Have each group brainstorm and write down as many examples of that resource as it can. The group with the most examples wins round one.
Round #2
Each group should now be working with the category of economic resources that the group to its left worked with in round one. Working from the previous group’s paper, each group should write how each resource identified on the paper can become limited. The group with the most explanations wins round two.
Round #3
Each group should now be working with a category of economic resources that the two other groups worked with in rounds one and two. For round three, have each group write down how a business could react to the limited resources identified by the previous groups. The group with the most explanations wins round three. The overall winner is the group who has won the most rounds.
Round #1
Assign a different category of economic resources to each group. Have each group brainstorm and write down as many examples of that resource as it can. The group with the most examples wins round one.
Round #2
Each group should now be working with the category of economic resources that the group to its left worked with in round one. Working from the previous group’s paper, each group should write how each resource identified on the paper can become limited. The group with the most explanations wins round two.
Round #3
Each group should now be working with a category of economic resources that the two other groups worked with in rounds one and two. For round three, have each group write down how a business could react to the limited resources identified by the previous groups. The group with the most explanations wins round three. The overall winner is the group who has won the most rounds.
Activity 2 - 60 minutes
With your business partner, select a local small business. Identify as many natural resources, human resources, and capital goods as you can for your assigned business. After identifying the necessary resources, determine how these resources could become limited, as well as what you would do if faced with a shortage of its different resources. Create a VIDEO Presentation for this activity. Your presentation should last at least 4 minutes.
With your business partner, select a local small business. Identify as many natural resources, human resources, and capital goods as you can for your assigned business. After identifying the necessary resources, determine how these resources could become limited, as well as what you would do if faced with a shortage of its different resources. Create a VIDEO Presentation for this activity. Your presentation should last at least 4 minutes.
- WeVideo
- ClipChamp
- IMovie
- Adobe Premiere
Learning Guide - 30 minutes
Go to Google Classroom and complete the learning guide notes that you may use on your test.
Go to Google Classroom and complete the learning guide notes that you may use on your test.
Test - 20 minutes
Go to Google Classroom and take the test.
Go to Google Classroom and take the test.
References
Done?
- Typing lessons or NitroType
- Find and practice a cadence for our mask breaks
- Design a social media graphic about homecoming using Canva. Use the images below.
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Business and Marketing Essentials Course Guide (Standard) © 2017, MBA Research and Curriculum Center®