Week 2 Objectives Identify the three types of economic systems Summarize the goals that influence decisions about production and consumption of goods Compare and contrast the role of government in a command economy and a market economy Summarize the characteristics of a free enterprise system Monday 1-13 Bell Work-copy types of econ matrix 2. Review week one concepts of scarcity, opportunity cost, principles that guide an economic way of thinking. 3. Econ Lab: working with scarce resources-smores 1. Tuesday 1-14 Review types of econ matrix Group Review and quiz of econ systems Group study and share out of economic goals: students are assigned one goal to study and share out with the class Block day 1-15, 1-16 Bell work- complete questions about one economic goal Group share out of one economic goal Take notes from the student answers written on the board Introduce the characteristics of a free enterprise system Week 3 Objectives 1. 2. 3. 4. 5. 6. 7. Describe the three types of business organization. Summarize the advantages and disadvantages of a sole proprietorship, partnership, and corporation. Explain the reasons that cause firms to merge. Identify two different types of mergers. Describe and illustrate the concept of demand. Explain what causes a change in quantity demanded Describe the factors that could cause a change in demand. Tuesday 1-19 FAFSA P.I.N. Workshop Bell Work: Draw a table using pages 57-66 Type Sole Prop. Partnership Corp. Pros (advantages) Cons (disadvantages) Objectives Explain the reasons that cause firms to merge. Identify two different types of mergers. Block 1-20, 1-21 Bell Work: 1. When it comes to partnerships one disadvantage is limited life. What does it mean when a business has limited life? 2. Identify the two types of partnerships. 3. Explain the term bankruptcy and why it is considered a possible outcome of a partnership. 4. Which type of business requires permission from the government and what is that document called? Bell Work How Businesses Grow Why Businesses Merge Graphic Organizers Quiz Graphic Organizers: Two Ways Businesses Grow: ReinvestmentEarnings put back into business to build firm. MergersHorizontal /Vertical Graphic Organizers: Two Ways Businesses Grow Mergers Vertical Reinvestment Horizontal Graphic Organizers: Reasons Why Businesses Merge: Read page 69-70 and fill in the graphic organizer below: Assignment: Types of Mergers Draw a Venn Diagram comparing the two types of mergers. 2. Draw an illustration of each type on the back side of your Venn Diagram 3. Explain how conglomerates and multinationals differ from horizontal and vertical mergers. Due Friday 1.