Unit Six: Economic Systems

Assignments:

1. Read Chapter 19 in the Textbook and complete the following sets of questions:

• Page 386,"Understanding Key Concepts", questions 1-3
• Page 392, "Understanding Key Concepts", questions 1-3
• Page 394, "Thinking Critically", questions 1-4

2. In the Workbook, complete the following activities: 19-1, 19-3, 19-4, and 19-5.
3. Evaluate the buying checklist on pages 209 - 211 in your Workbook. After completing 19-2, answer the following questions on a separate piece of paper:
   • Is this a reasonable approach to buying a car? Why or Why not?
   • Would you be inclined to use this as a buying tool? Why or Why not?
   • What questions would you add to the list?
   • What are the key considerations you consider before buying a used car? Go to kellybluebook.com on the net and find the Retail price and the Trade-in price.

______Test, Chapter 19

4. Read Chapter 4 in the Textbook and complete the following sets of questions:
   • Page 72, "Understanding Key Concepts", questions 1-2
   • Page 76, "Understanding Key Concepts", questions 1-2
   • Page 82, "Understanding Key Concepts", questions 1-3
   • Page 84, "Thinking Critically", questions 1-3

5. In the Workbook, complete the following activities: 4-1, 4-2, 4-3 (choose a small business you think we need in the area), and 4-4.

______Test, Chapter 4

6. Using the information you learned from chapter 4, write a business plan for a small business you would like to start in the area. Use the following outline to type between 5 and 9 pages, double spaced, size 12 font:

0. Description and Analysis of the Business Situation
   1. Introduction: type of business, breif descripion of major product/service involved.
   2. Self-analysis: actual personal experience and/or training in proposed field
   3. Analysis of the trading area, customer and location: geographic, demographic and economic analysis of trading are, customer and locale of proposed business
   4. Proposed organization: type of ownership, planned personnel
1. Proposed Marketing/Promotion Plan
   1. Proposed product or service: details of product(s) or service(s) to be offered; potential suppliers or manufacturing plans
   2. Proposed pricing policy: costs, markups, relationship to competitors
   3. Personal promotion: nonmedia sales plan, staffing and merchandising appeal
   4. Nonpersonal promotion (Advertising): media, basic appeal and initial promotion plan
   5. Place: channel of distribution from manufacturer or service provided to consumer
2. Proposed Financing plan
   1. Proposed income/profit and loss statement: projected budget describing income and expenditures for the first year (by the month)
   2. Projected three-year plan: describe planned growth, including financial resources and needs

Your instructor can provide additional resources to help answer any questions or provide examples if needed.