• 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.

    • 1.1: Business Basics

        • 1.1.1: Foundational Business Practices

        • 1.1.2: Factors Affecting the Success of Business

        • 1.1.3: Impact of Business on Society

          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.

            • 1.1.3.1: Positive Impact of Business on Society

            • 1.1.3.2: Negative Impact of Business on Society

            • 1.1.3.3: Case Study

        • 1.2: Productivity and the Business Cycle

            • 1.2.1: Productivity

            • 1.2.2: The Business Cycle

          • 1.3: Economic Indicators as Components of Economic Stability

              • 1.3.1: Economic Indicators

              • 1.3.2: Consumer Price Index

              • 1.3.3: Rate of Inflation

              • 1.3.4: Gross Domestic Product

              • 1.3.5: Nominal and Real GDP Growth

              • 1.3.6: GDP Per Capita

              • 1.3.7: Inflation & Consumer Spending

            • 1.4: Components of Economic Policy

                • 1.4.1: Budget Deficit (Expenses Exceed Revenues)

                • 1.4.2: Budget Surplus (Revenues Exceed Expenses)

                • 1.4.3: Government Regulation

              • 1.5: Doing Business Globally

                  • 1.5.1: Feasibility of Doing Business in a Foreign Country

                  • 1.5.2: Methods for Business Entry into the Global Marketplace

                  • 1.5.3: Global Trade Restrictions

                  • 1.5.4: Global Trade Facilitators

                • Unit 1 Activities

                • Unit 1 Assessment