Week March 2, 2015 – March 6, 2015 DECA NEWS: ARE YOU OFFICER MATERIAL? Get your Officer Intent form Today! You Help is NEEDED! Sign up to volunteer at the Home & Garden Show at KGHS this weekend! Sign up for Meet In the Middle and Relay for Life Team, too! Movie Night– Thursday! Meet at Paragon at 5pm! Due This Week: Chapter 2 – Vocab & Review Due Thursday! Chapter 2 TEST Friday! Abstract #2 Due Friday

 Early Work: What are the five areas of Maslow’s Hierarchy of Needs?  Today’s Objective: Understanding Economics in Organizations/Exploring the Free Enterprise System Understanding Economics in Organizations/Exploring the Free Enterprise System  Activities  Vocabulary Vocabulary  Chapter 2 – Section 2.1 – notes & powerpoint  Pyramid – Draw Yours!  2.1 Assessment – Pg 41 – answer with table partners  Financial Goals of your Business - Worksheets  What is your business and the name of your business?  Homework: Vocab & Review – Pg #1-21 due Thur ☞ Point of the Day: Needs and Wants are Unlimited. Attitude is always a “player” on your team. Magical Monday Manners Moment

 Early Work: What are the three (3) Factors of Production?  Today’s Objective: Understanding Economics in Organizations/Exploring the Free Enterprise System Understanding Economics in Organizations/Exploring the Free Enterprise System  Activities  Chapter 2 – Section 2.2 notes & powerpoint  Be Your Own Boss – page 47 - activity  What would it be like? Command, Market, Traditional, or Mixed – Answer the questions for your product.  2.2 Assessment – Pg 48 – with your table partner  Work on BYBPP  Homework: Vocab & Review – Pg #1-21 ☞ Point of the Day: Maslow’s Hierarchy of Needs Pyramid: Physiological, Security, Social, Esteem, Self-Actualization. Attitudes have the power to lift up or tear down a team. Tough Tuesday – Name that Company

 Early Work: What are the four basic principles of Capitalism?  Today’s Objective: Understanding Economics in Organizations/Exploring the Free Enterprise System Understanding Economics in Organizations/Exploring the Free Enterprise System  Activities  Chapter 2 – Section 2.3 – notes & powerpoint  2.3 Assessment – page 54 with your table partner  Effective Presentation Skills – read & practice - Page 55  Read article and share with class!  Work on BYBPP  Homework: Vocab & Review – Pg #1-21 – due Thursday ☞ Point of the Day: Factors of Production include Natural, Human, and Capital Resources. Fixed & Variable Costs are part of all businesses. An attitude compounds when exposed to others. Work Wear Wednesday & Role Play Day!

 Early Work: Newspaper Day – The Free Lance Star What are the four (4) functions of business?  Today’s Objective: Understanding Economics in Organizations/Exploring the Free Enterprise System Understanding Economics in Organizations/Exploring the Free Enterprise System  Activities  Vocabulary & Review Check-Off  COW in the ROOM – MOOOO!  Chapter 2 of your BYBPP – review sheets and get to work  Make sure to keep up with your project papers!  Homework: Test - Chapter 2 Tomorrow!! Abstract #2 due ☞ Point of the Day: Economic Systems answer three basic questions – What will be produced, How will it be produced, and For whom will it be produced? Bad attitudes compound faster than good ones. Throw Back Thursday – Share a Weird Fact today!

 Early Work: What is the difference between fixed and variable costs?  Today’s Objective: Understanding Economics in Organizations/Exploring the Free Enterprise System Understanding Economics in Organizations/Exploring the Free Enterprise System  Activities  Collect Abstract #2  Chapter 2 Test  Continue to work on BYBPP  Journal – “Because I live in a Market Economy with a Free Enterprise System, I enjoy…”  Finish up any missed work/etc… work on BYBPP  Homework: Work on your BYBPP ☞ Point of the Day: Capitalism (the Free Enterprise System) in the US is based on four basic principles: private property, freedom of choice, profit, & competition. Rotten attitudes, left alone, ruin everything! Foxes Friday - The Week’s Wrap-Up & Good News!

 Need  Want  Maslow’s Hierarchy of Needs Pyramid  Economic Resources  Factors of Production  Natural Resources  Human Resources  Capital Resources  Command  Economy  Traditional Economy  Mixed Economy  Capitalism  Free Enterprise  Profit  Competition  Economic Decision  Scarcity  Opportunity Cost  Functions of Business  Supply  Demand  Equilibrium Price & Quantity  Fixed Costs  Variable Costs  Marginal Benefit  Marginal Cost  Perfect Competition  Monopolistic Competition  Oligopoly  Monopoly Vocabulary & Review Due THURSDAY TEST on FRIDAY! Define in your composition book with Review Pages 57-58, #1-21 – Due Thursday!

 Understanding Economics in Organizations  Explain the nature of economics.  Distinguish between a good and a service.  Distinguish between consumer and capital goods and services.  Explain the economic benefits of marketing.  Identify types of product utility.  Exploring the Private Enterprise System  Explain the meaning and characteristics of private enterprise.  Explain the concept of profit.  Explain the concept of supply and demand.  Explain the effect of competition on buyers and sellers. CTE Competencies Linked to SOLs

As you continue to explore the Free Enterprise System, you will see that the first step is to Determine the Want or Need. Before you can offer anything to your intended market, you must make this determination. Once you have established the Want or Need and determined your market, you must have an understanding of your Economy – Command? Market? Mix of both? – and through knowledge of Supply & Demand, you can determine your Price!

11. Which of the following are elements that appear in the heading of a memorandum: A. Company, to, subject, and date C. Date, title, to, and company B. To, title, from, and date D. To, from, date, and subject 12. Before sending a professional message to a business associate, a business person should A. code the message's importance as "high priority." B. proofread the message for spelling and grammatical errors. C. make sure that the message is typed in capital letters. D. insert a vague statement in the message subject line. 13. Which of the following is a type of simple written report that usually is distributed to employees within a business: A. Proposal B. Memorandum C. Handbook D. Newsletter 14. Which of the following is a guideline for employees to use in communicating with coworkers: A.Be sure to share rumors and gossip with their coworkers B.Feel free to express their complaints about their jobs C.Think about what they want to say before they say it D.Use a direct approach in speaking to an angry coworker 15. What might result if a business fails to maintain positive customer/client relations? A.Decrease in sales C. Loss of advertisers B.Reduction in assetsD. Lowering of goals

SITUATION: You are to assume the role of an applicant for a summer internship at the law firm of BLACK AND BLACK, an organization dedicated to helping businesses. You have submitted your résumé and have been invited in for a face-to-face interview with the managing partner. This interview will be used to measure your knowledge and understanding of an aspect of business and business law. The managing partner wants to make sure you understand the different types of business ownership and basic business law before you are offered the internship. In the first part of your interview, you will explain the different types of business ownership. You will also need to address the additional performance indicators listed. Following your explanation, the managing partner will ask you to respond to additional questions. The interview will take place in the managing partner’s office. The managing partner will begin the interview by greeting you and asking to hear your ideas on business ownership and business law. After you have provided your explanation and have answered the managing partner’s questions, the managing partner will conclude the interview by thanking you for your presentation. PERFORMANCE INDICATORS 1. Explain types of business ownership. 2. Describe the nature of legally binding contracts. 3. Identify the basic torts relating to business enterprises. 4. Describe legal issues affecting businesses. Questions: 1. Why are contracts important in business? 2. How can businesses protect themselves from torts?

 R-E-S-P-E-C-T EVERYTHING!!!  Your supplies – bring your stuff every-day! Bring your book every-day! Bring your notebook & composition book every- day! Bring pen/paper/thinking cap/open mind ever-day!  Place all bags on floor under your table! Cell phones in bag!  Wait for Teacher instruction before beginning activity!  Passes out of Class - No Exit First 10/Last 10  One person out of room at a time  Pass Board– USE IT!  Keep it short!  Stay in your seat until you are dismissed from class – the bell tells Teacher when class is over; Teacher then dismisses you.  No talking while Teacher or others have the floor.  Watch your language and mind your manners, please.  All School Rules will be followed without question.