The Business Cycle Introduction to Business & Marketing Distribute: note guide!! Introduction to Business & Marketing

Task 44 Define the phases of the business cycle.

The Business Cycle The business cycle is the rise and fall of economic activity over time. Economies naturally go through “ups” and “downs.” Historically, the United States has experienced economic slumps in 1930s, 50s, 70s and 00s causing a fall in economic activity & rise in unemployment. Economic downturns or slumps are generally followed by new waves of increased productivity & increased GDP.

The Business Cycle The economy has been influenced by: War Foreign competition Changes in technology Changes in consumer wants

Prosperity This stage refers to the peak of the economy when demand is high. High level of production (GDP) and income / profits Low level of unemployment Consumers are spending

Recession This stage refers to a decline in the economy during which demand starts to fall. Steady decline in production (GDP) and income / profits Increasing unemployment rate Consumers start to save their money.

Depression This stage refers to the contraction of the economy when demand is low. Lowest levels of production (GDP) and income / profit High level of unemployment Consumers are saving their money.

Recovery The stage refers to the expansion of the economy when demand starts to rise. Steady increase in production (GDP) and income / profit Decreasing unemployment rate Consumers are starting to spend their money again.

Closing Task What factors can help to keep an economy booming? (prosperity) What might cause a change from prosperity to recession? (prompt a recession) What factors can help to keep an economy in a downswing? (depression) What might cause a change from a recession to prosperity? (prompt a recovery) Return to your poster paper with your group. Answer the question written on the back.

Entrepreneurs Who Rose from the Ashes goo.gl/V4qf3X

Workplace Readiness Skills: Personal Qualities & People Skills CTE  Marketing Education

Task 4 Demonstrate self-representation skills.

Self-Representation Skills Dressing Appropriately Professional vs. Personal Following Dress Code Maintaining Personal Hygiene Using Language & Manners Suitable for the Workplace Respectful, Polite & Professional Practices

Think About It! Table Time What is the relationship between self-image and self-representation skills? Why are self-representation skills important in school? On the job? How can you improve your self-representation skills? What techniques can you employ to overcome shyness? To overcome nervousness? Table Time

FORBES goo.gl/4PTCcY Read the article, and answer the questions about What Not to Wear. http://www.forbes.com/sites/work-in-progress/2012/03/08/what-not-to-wear-to-work/

Task 5 Demonstrate diversity awareness.

Demonstrating Diversity Awareness Working in a respectful and friendly manner with all customers and coworkers Same degree of respect regardless of origin, race, appearance, religion, gender, disability, age Respecting cultural differences encountered in the workplace

How diverse is this class? Where were you born? Describe your family’s ethnicity – where are your parents / grandparents from? Where did you go to elementary school? Where do you live now? How old are you? Have you ever traveled internationally? If so, where? Where do you hope to go to college? What is your dream job? How diverse is this class?

Diversity Matters! Google has 62% of the global search market share, including more than 200 countries. Mission: Facilitate access to information for the entire world, and in every language How many languages are there? 4,000 + Most popular? Mandarin Chinese, Spanish, English Google found they could reach 99.3% of the Internet population with only 40 languages. Motto: Never judge a search engine by its interface. Started 40-Language Initiative

Closure In a new high school, what do you want your legacy to be? Describe the personal brand you represent. Explain how diversity can help to strengthen a team.

Thu. October 13, 2016 OBJECTIVES REMINDERS TODAY’S AGENDA (44) Define the phases of the business cycle. REMINDERS DECA Pink Week Interest Meeting // Tomorrow! Economics Unit Test October 25th TODAY’S AGENDA BRO Time Identify a good or service in low supply with high demand. Economic Systems Quiz [ Tasks 39 – 42 ] Economic Systems, Mixed Economies, Supply & Demand The Business Cycle PowerPoint + Notes. Case Study Article. Workplace Readiness Skills Review notes. Daily Quiz! CLOSURE What events or triggers might cause a shift from one stage of the business cycle to another?