Explain how to use the decision-making process to make the most of your resources.
Explain how profit and competition motivate businesses.
Describe the four factors of production.
Describe the three basic economic questions each country must answer in order to make decisions about using their resources.
Describe the four stages of the business cycle.
Describe the advantages and disadvantages of the three major forms of business organization.
Describe how cooperatives and nonprofits are alike and unlike corporations and franchises.
Describe the five functions of business and how they relate to each other.
Examine banking services and compare and contrast them.
Examine the functions of marketing.
Explain the components of the marketing mix.
Describe the types of advertising media used in marketing a product of service.
Design an appropriate media ad.
Evaluate the effectiveness of advertising.
Analyze the concepts of credit and its effect on the individual and the total economy.
Determine advantages and disadvantages of using credit.
Evaluate the best type of payment to use for different types of purchases. (e.g. cash, mortgage, installment loan, credit card).
Analyze the requirements and costs of obtaining credit.
Explain why budgeting is essential for consumers, businesses, and governments.
Identify proper procedures for managing a checking account.
Analyze and demonstrate how to reconcile a bank statement.
Analyze factors that affect the rate of return on a given savings or investment plan.
Evaluate bank investments opportunities, such as bonds, CD’s, and money market accounts.
Analyze the various forms of risk management.
Explain the various types of insurance and how each provides protection against possible losses.
Evaluate the major types of auto insurance and the basis of cost.
Evaluate the various types of life insurance policies and health insurance policies.