1. Pgs. 600-606 22.1 Types of Businesses
Focus Question
Analyze the three basic types of business organizations in the U.S.
Reading, Summarizing, Note taking
Vocabulary
Main Ideas
Facts
Details
Reasons
MI.5.E.1
Compare and contrast major forms of business organizations.
MA.9.E.1
Evaluate the roles of governments in the economy
Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

2. Sole Proprietorship Partnership Owned by one person
Owned by more than one person
Not all partner contribute funds
Raising money is easier
Partner share in decision
Sole Proprietorship
Owned by one person
Raising money is difficult
Owner makes all decisions
Pay individual income tax
Unlimited Liability
Pride in Ownership
Main Disadvantages – Unlimited Liability – Owners are held responsible for all debts
Main Advantages – Pride in Ownership - Owners keep all profits

3. Raising money is easier
Partnership
Owned by more than one person
Not all partner contribute funds
Partner share in decision
Pay individual income tax
Unlimited Liability
Corporation
Owned by stockholders
Board of Directors makes most decisions
Pays Corporate Tax
Limited Liability
Raising money is easier
Main Disadvantage
*Profit shared among stockholders
Main Advantage
*Owners (Stockholders) are less responsible for debts
*Sale of stocks raises easy financial capital
Main Disadvantage
*Owners are responsible for debts
Main Advantage
*Owners keep all profits

4. 22.1 Types of Business
Why do you think the U.S. government regulates corporations more strictly than it does partnerships or proprietorships?
If you were planning to open your own business, which form of business organization would you prefer? Justify your answers.

5. Pgs. 608-613 22.2 The American Labor Force
Focus Question
Analyze the role of labor unions in the nation’s economy.
Reading, Summarizing, Note taking
Vocabulary
Main Ideas
Facts
Details
Reasons
MI.5.E.1
Compare and contrast major forms of business organizations.
MA.9.E.1
Evaluate the roles of governments in the economy
Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

6. Negotiation Tools Labor Tools Management Tools Strike Protest Boycott
Workers refuse to go to work
Protest
Workers march in front of business
Boycott
Refuse to buy the business’s products
Management Tools
Lock Out
Company prevents workers from coming to work
Injunction
Court order to end or limit a strike

7. 22.2 The American Labor Force
Is the union shop illegal in right-to-work states? Explain
Yes, Union Shops are illegal. In right to work states workers can not be required to be members of a Union.
How is mediation different from arbitration?
Mediation - A third party is brought in to help find a compromise.
Arbitration-A third party is brought in to settle the disagreement.
Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

8. 22.2 The American Labor Force
Who meets with management to discuss the workers’ concerns?
Union Officials (Union Boss)
What topics do they discuss?
Wages, benefits, holidays, working conditions, rules
How did Cesar Chavez force grape growers to sign union contracts with farm workers?
He organized a boycott of grapes until the growers agreed to Union contracts.
Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

9. Pgs. 615-619 22.3 Businesses in Our Economy
Analyze the fundamental principles of our nation’s economy.
Reading, Summarizing, Note taking
Vocabulary
Main Ideas
Facts
Details
Reasons
MI.5.E.1
Compare and contrast major forms of business organizations.
MA.9.E.1
Evaluate the roles of governments in the economy
Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

10. Roles of Business Producer Employer Consumer
Businesses Produce a product or service to satisfy consumers wants and needs
Employer
Businesses employ laborers to create a product or provide a service
Consumer
Businesses buys products needed to create other products or provide services

11. Responsibilities of Business
To Consumers
Safe Product
Products work properly
Truthful Advertising
Treat Customers fairly
To Owners
Transparency
Provide accurate information about how the business is doing
To Employees
Safe Working Conditions
Treat workers fairly / with out discrimination
To Community
Social Responsibility – pursue goals that benefit society

12. Pgs. 615-619 22.3 Businesses in Our Economy
Citizens United
Businesses are producers. In what way are businesses also consumers?
They buy goods and services from other businesses, such as; machinery and supplies
What is social responsibility?
The sense of duty to pursue goals that benefit society as well as the business.
Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

13. Pgs. 615-619 22.3 Businesses in Our Economy
Why is it important for businesses to publish their financial information regularly?
It is important that a company’s stockholders have enough information to make decisions about buying and selling their stock
Classroom Instruction That Works, Marzano, 2001, pg. 86, Combination Notes

14. Economic Concepts pg. 622
Read and write notes of; “The Invisible Hand”
Who is the writer?
Would Adam Smith agree that the benefits of free enterprise are a consequence of people’s desire to make a better life for others?
Explain
No. Smith writes that the entrepreneur intends only his own gain.

15. Economic Concepts pg. 622
Read and write notes of; “The Free Market and Benefits of Capitalism”
What does Hayek say is an important benefit of a free market economy? What benefit does Hazlelitt stress?
Explain
Hayek speaks of the Freedom of Choice;
Hazlitt speaks of wealth

16. Economic Concepts pg. 623
Read and write notes of; “Supply and Demand and Prices”
What example does Marshall use to depict the workings of supply and demand on prices?
Do you think this is a good example?
Explain

17. Analyzing Primary Sources. Pg. 622-623
Read the Reading Focus segment to the left of page 622.
Read the segment titled The Invisible Hand
In your own words paraphrase Adam Smith’s excerpt about the “Invisible Hand”.

18. pg Economic Concepts
Read the segment titled The Free Market on page 622.
In your own words paraphrase what Hayek has to say about the free market
Share with your neighbor the results of your work.

19. pg Economic Concepts
Read the segment titled Benefits of Capitalism on page 622.
In your own words paraphrase what Hazlitt has to say about capitalism.
Share with your neighbor the results of your work.