The Business Environment
What is economics?
Objectives #1
Using the video and articles below as a reference - 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.
a. Define the following terms: utility, form utility, place utility, time utility, and possession utility.
b. Identify ways in which a product's utility can vary.
c. Cite an example of each type of utility.
d. Describe how marketing affects each type of utility.
- Determine economic utilities created by business activities
Objectives #1
Using the video and articles below as a reference - 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.
a. Define the following terms: utility, form utility, place utility, time utility, and possession utility.
b. Identify ways in which a product's utility can vary.
c. Cite an example of each type of utility.
d. Describe how marketing affects each type of utility.
Articles
Videos
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Product--Utility
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10 Shopping Secrets at Costco
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Activity - Goods and Services
- You may work alone or with ONE partner.
- Generate a wish list of goods and services that you desire.
- Select three of these products and write 2 paragraphs (10 sentences total) report about how the business that sells the items creates form, time, place, and possession utilities.
- The format should be 1" margins, Times New Roman 12, double-spaced.
- Upload your Google Document to Google Classroom.
What is economics?
Objectives #2
Using the video and articles below as a reference - 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.
a. Define the following terms: demand, law of demand, supply, law of supply, law of supply and
demand, buyer's market, seller's market, elasticity, elastic demand, and inelastic demand.
b. List the conditions required for demand to exist.
c. Describe how the law of supply and demand affects businesses.
d. Identify factors that affect elasticity.
e. Explain the importance of understanding elasticity.
f. Describe factors that affect demand.
g. Describe factors that affect supply.
- Explain the principles of supply and demand
Objectives #2
Using the video and articles below as a reference - 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.
a. Define the following terms: demand, law of demand, supply, law of supply, law of supply and
demand, buyer's market, seller's market, elasticity, elastic demand, and inelastic demand.
b. List the conditions required for demand to exist.
c. Describe how the law of supply and demand affects businesses.
d. Identify factors that affect elasticity.
e. Explain the importance of understanding elasticity.
f. Describe factors that affect demand.
g. Describe factors that affect supply.
Articles
Videos
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Econ 2.1 demand and supply explained
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Simple supply and demand
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Activity - Soda Company
Analyze the following situation to determine whether the national soft-drink company should move forward with its plan. We will be presenting in a debate format on Thursday.
A national soft-drink bottling company plans to update vending machines so that the price that consumers are charged for soft drinks varies based on demand.
FBLA Dress Code for presentation. 20 points
Analyze the following situation to determine whether the national soft-drink company should move forward with its plan. We will be presenting in a debate format on Thursday.
- One of your partners will be FOR and one will be AGAINST.
- You will "argue" for 30 seconds each. 50 points
- Upload your debate points in a Google Document to Google Classroom. 30 points
A national soft-drink bottling company plans to update vending machines so that the price that consumers are charged for soft drinks varies based on demand.
FBLA Dress Code for presentation. 20 points