Introduction to Business Essential Questions


    Chapter 1:  Basic Economic Concepts

    *    How are public wants different from private wants?

    *    How can you make the most of your resources?

    *    Think of your favorite retail store.  What stores are their competitors?


    Chapter 2:  Economic Resources and Systems

    *    What is scarcity?

    *    How are renewable resources different from nonrenewable resources?

    *    How are capital resources different from capital?

    *    What is the role of the individual within the free enterprise system?


    Chapter 3:  Economic Activity in a Changing World

    *    What does the unemployment rate measure?

    *    What are the four stages of the business cycle?

    *    What happens to the economy during a depression?


    Chapter 4:  Business Ethics and Social Responsibility

    *    What are three kinds of ethics?

    *    Consider a conflict of interest you have encountered in you life.  How did you resolve it?

    *    What ways can a business fulfill its social responsibilities?

    *    What is one of the biggest social issues facing businesses today?


    Chapter 5:  Entrepreneurship

    *    What are some reasons to become an entrepreneur?

    *    What are some types of home-based businesses?

    *    What are some questions to consider before starting a business?


    Chapter 6:  Business Ownership and Operations

    *    What are four disadvantages of owning a sole proprietorship?

    *    What are the five main functions of business?


    Chapter 7:  Business Management

    *    What are the four functions of management?

    *    Why is there more to leading than just giving orders?

    *    What is the advantage and disadvantage of line authority?


    Chapter 8:  Leadership in Management

    *    What does leadership involve in today’s world?

    *    What are the three components of motivation?

    *    What is the difference between initiative and integrity?

    *    How do the leadership styles of an autocratic leader and a democratic leader differ?

    *    What is the position of the leader in a self-managed team?


    Chapter 9:  Technology and Business

    *    How did life before the telephone compare to life after its invention?

    *    What is the difference between e-commerce and the e-workforce?

    *    What are two examples of e-commerce?

    *    What are some disadvantages to e-tail?


    Chapter 10:  Business in a Global Economy

    *    What are some meanings of the word trade?

    *    What is the difference between an import and an export?

    *    What is at the heart of most trade disputes?


    Chapter 11:  The Role of Government in Our Economy

    *    What is the difference between a copyright and a patent?

    *    Why are taxes necessary?


    Chapter 12:  Money and Financial Institutions

    *    What kinds of money does modern society use?

    *    What are the characteristics of money?

    *    What are some of the rules of starting a bank?

    *    What is a savings and loan association?


    Chapter 20:  Career Planning

    *    What is the difference between a job and a career?

    *    What are values?

    *    Why is it important to research careers?


    Chapter 21:  Getting a Job

    *    What are employability skills?

    *    What are the essential parts of a resume?


    Chapter 25:  The Basics of Credit

    *    On what three factors is the amount or interest based?

    *    What factors contribute to a good credit rating?

    *    What could negatively affect your credit rating?

    *    What type of collateral does the bank receive when you take out a mortgage loan?


    Chapter 26:  How to Get and Keep Credit

    *    What is the best way to gauge the cost of credit?

    *    What are the three Cs of credit?

    *    What is the difference between a secured loan and an unsecured loan?

    *    Is it possible to get credit if you have a bad credit rating?