1. Introduction to Business & Marketing
Economics: Day 1
Introduction to Business & Marketing

2. Economy
Economy: “the organized way a nation provides for the needs and wants of its people”
Determines what each country will manufacture, buy, sell, invest, and transport.

3. Resources
Resources: “all of the things used in producing goods & services”

4. Factors of Production
Factors of Production: “technical term economists use for resources”
Land
Labor
Capital
Entrepreneurship

5. Land Land: “everything on the Earth that is in its natural state”
Example: coal, crude oil, tourism
Example: water, air, soil

6. Labor Labor: “all the people who work in the economy”
Example: full-time & part-time employee
Example: sales associate working at Old Navy

7. Capital
Capital: “includes money needed to start and operate a business”
Example: factories, buildings, machinery
Example: factory building producing goods in Minnesota

8. Entrepreneurship
Entrepreneurship: “ability to start/own your own business”
Example: planning to make & sell skateboards
Example: Mary Kay Cosmetics (Mary Kay Ash), Ford Motor Company (Henry Ford)

9. Project Work individual Research an entrepreneur
Create a flyer about entrepreneur on Word with the following information:
Name
Photo
Biography of person
Information of business
Other facts
Quote from the entrepreneur
Cite resources