1. Copyright © Texas Education Agency, 2011. All rights reserved
Principles of Business, Marketing, and Finance Marketing Goods and Services
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2. Copyright © Texas Education Agency, 2011. All rights reserved
U.S. Economy
Is the largest producer of goods and services in the world
Has twice as many shopping malls as it does high schools
America-leader in consuming goods and services
Use of Credit
Increased purchasing power
Led to more debt
Ask students what things consumers cut from spending when economic conditions become bad. Ask students why shopping malls have an increasing number of open spaces for stores. Explain how the economy is directly related to consumer demand and spending. Demand and spending is directly related to the rate of employment
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3. Copyright © Texas Education Agency, 2011. All rights reserved
Economic Resources
Means through which goods and services are produced (Factors of Production)
Natural resources
Human resources
Capital resources
Resources are Limited
Ask students to make a list of the greatest resources in the United States. Then ask how the resources are used in a global business setting.
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4. Basic Economic Problem-Scarcity
Not having enough resources to satisfy every need
Economic Decision-making
Scarcity forces individuals, businesses, and governments to make choices
Economic decision-making (process of choosing which wants, among several options, will be satisfied
Trade-off (when you give up something to have something else
Opportunity cost-the value of the next-best alternative that you did not choose
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5. The Decision-Making Process
Define the problem.
Identify the choices.
Evaluate the advantages and disadvantages of each choice.
Choose one choice.
Act on your choice
Review your decision.
Ask students to list a major decision they must make. Then ask students to incorporate the steps of the decision-making process to make their decision
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6. Automobile Comparisons Assignment
Using some websites like Edmunds.com or Autotrader.com to choose 3 comparable new automobiles and research the following:   
Domestic or Imported
Options (audio systems, sunroof, navigation, leather, etc.) choose 5
Gas Mileage
Price
Safety Rating
Put these results in a table in a word document and then list which one of the three you would you buy and why? Give 3 reasons from your research.