Business Name Proprietors: Date Period. Chapter 1.

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