Unit 1: The Context of Business
This unit covers basic concepts which provide a context for business. We explore economic and historical information governments use to make decisions, which provides a foundation for future decision-making. You will learn about productivity, the business cycle, the impact of business on society, economic trends and policies, and elements of global business. We will examine the financial meltdown of 2008, including the government bailout of AIG and General Motors, and the collapse of Lehman Brothers, which provide teachable moments in economic policy and business cycles.
Completing this unit should take you approximately 16 hours.
It probably goes without saying that businesses provide a value to society in the form of creating products that society needs, providing employment, and paying taxes that lead to a better quality of life for everyone. However, businesses can also negatively impact society, whether it be through damage to the environment or the devastation that can be left behind when a business closes.