1. Introduction to Business First Wrap-Up: October 17, 2008

2. 2 Basics >What’s a business? Profit vs. Non-Profit >Factors of Production Capital / Labor / Land (Resources) / Entrepreneurship >Manufacturing vs. Services Industries >Capital Intensive vs. Labor Intensive >Economics Microeconomics vs. Macroeconomics >Economic Systems Planned vs. Free Market Systems

3. 3 Microeconomics >Supply and Demand Changes in Demand >Changes in Demand Price / Income / Expectations / Substitute Goods Complementary Goods >Equilibrium Point, Price and Quantity

4. 4 Macroeconomics >Free Market Competition Pure Competition / Monopolistic Competition / Oligopoly / Monopoly >Competitive Advantage Cost Leadership vs. Differentiation >Economic Indicators

5. 5 Ethics >Ethics vs. Social Responsibility >Factors Influencing Ethical Behavior >Being Legal vs. Being Ethical >Ethical Dilemma vs. Ethical Lapse >Corporate Social Responsibility - Methods

6. 6 Global Economy >Why do nations trade? >Absolute Advantage vs. Comperative Advantage >Balance of Trade vs. Balance of Payments >Free Trade vs. Fair Trade >Trade Restrictions Tariffs / Quotas / Embargoes / Subsidies >Trade Organizations GATT / WTO / IMF / World Bank >Trading Blocks NAFTA / EU / ASEAN / World Bank >Going International, Opportunities & Challanges

7. 7 Starting a Business >Business Ownership >Sole Proprietorships / Partnerships / Corporations >General Partnerships vs. Limited Partnerships >Limited vs. Unlimited Liability >Going Public, Advantages & Disadvantages >Corporate Governance Shareholders / BoD / Corporate Officers / Employees >Mergers & Acquisitions >Strategic Alliances & Joint Ventures