Intro to Business – 9/11/09
Objectives:
- Explain the difference between needs and wants
- Distinguish between goods and services
- Describe the types of economic resources
I. Bellwork
A. A shirt that originally costs $35 is on sale at 20% off. The sales tax on shirts is 5% of the purchase price.
- How much would the shirt cost if is was not on sale?
- How much would it cost to buy the shirt at its sale price?
II. Read, Discuss, Take Notes: Pages 6-11
A. Needs and Wants Pgs 6-7
1. What are they?
2. How are they different ?
3. Examples
B. Goods and Services Pgs 7-8
1. What are they?
2. How are they different ?
3. Examples for Businesses & Consumers
C. Economic Resources
1. Why are they Important?
2. What are they?
3. Examples of each resource
III. Classwork
A. Terms (5)
B. Create 6 Multiple Choice Questions A-D and circle the correct answers for Section 1-1
C. Page 11 (1-4 Answers only)
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