business name proprietors: date period. chapter 1
TRANSCRIPT
Business Name
Proprietors:Date
Period
Chapter 1
Photo of Business
• Map- location of business
Business
• Address• Phone: 555-555-1234• Fax: 555-555-1235
Three economic Questions
• List and answer questions
Factors of Production
• List and illustrate the factors of production used in your business
Scarce Resources
• List all the resources needed to open your business ( everything you will need)
Goods or services
• Statement of what you plan to provide in the marketplace
Circular Flow Chart with your business
• Explain and show where your business is on this chart
Production Possibilities Curve
• Place your alternatives, inefficiency and growth on the PPF ( what is product A and B, etc…)
Chapter 2
Economic system explained with advantages and disadvantages
Advantages Disadvantages
Business economic and social goals
Read chapter 2 section two of the book for better understanding.
Role of Consumer in your business
Role of Government in your business
Chapter 3
Form of business organization
• Advantages • Disadvantages
Monthly Business statement
• Use the book figure 3.4 to help you do this part
Chapter 4
Law of Demand
• Demand schedule for your business
• Demand curve for your business
Business elasticity
Explain the elasticity of your business demanded by the public
Chapter 5
Role of Entrepreneur in your business
Law of Supply
• Supply Schedule • Supply curve for your business
Supply Elasticity
• Explain the elasticity of the supply from your business
Three Stages of Production
• Explain the three stages of production for your business
Cost, Revenue, and Profit Maximization Schedule
• Explain the cost, revenue and profit maximization place on the chart for your business and why that is the best place.
Chapter 6
Market demand and supply for business• Market demand and supply
schedule:• Market demand and supply
curve: ( show eq, surplus , and shortage)
Chapter 7
Market structure
• How does your business compete
• Who are your competitors?
Market Externalities
• Negative externalities • Positive Externalities
Chapter 8
What is the role of government in your business?• Explain how the government is involved in your business
Government (these can be website lists)
• Laws governing your business
Traditional theory of Wages
• Explain the theory of wages and how that will apply in your company
Chapter 9
Taxes
• List and explain all of the taxes you will have to pay
• Licenses you may have to pay
Profit Statement
• Total loan amount• Current interest rate• Total costs of borrowing the
money• Total revenues you expect
• Total estimated profit• Per day• Per month• Per year• Per person
Bibliography