Sept.27-Sept.30

Congratulations...you have survived your first chapter test! Now you have an idea of the format of the tests for future reference. I will try to get your test results back to you as soon as possible! Don't forget what you have learned in Chapter 1...as it is the foundation for what we will be studying in the coming chapters.

On Tuesday we will be starting Chapter 2 which focuses on consumer behavior. This is, as you may have guessed, how and why we buy what we buy, the things that influence us when making purchase-decisions, the kinds of questions that we consider before buying, as well as how businesses observe our behavior! This isn't a long chapter, but it is an interesting one.

Don't forget, there aren't any classes on Monday so I will see you on Tuesday!

REMINDER: Don't forget your current event on Tuesday if you are presenting!! ;)

Sept.19-23

This week we will go over our Supply & Demand graphing and correct the assignments from Friday. Please take the time over the weekend to work through the assignment, so if you have any questions you can ask them on Monday. We will continue in our notes for Chapter 1, talking about competition, interdependence, and decision-making in business. Important Note: Your Chapter 1 test is set for this Friday, September 23rd. We will be reviewing in class on both Wednesday and Thursday.

I also plan to show a new video we just got in the library called "The Benefits of Buying Canadian". This video touches on several topics we've already discussed in class, including manufacturing, economic resources, interdependence, the pros and cons of outsourcing, how to be competitive in Canada, and how buying Canadian products benefits our economy! Don't miss it!

Reminder: This coming Tuesday September 20th and Friday September 23rd we will have our first 'Current Events' presentations. If this is you, ensure you are watching the news. The 6:00pm news on Global TV or CTV are good places to start. Look at CBC.ca, The Vancouver Sun, The Province, or The Financial Post to start. I've added these links to my main page under "Useful Links" for easy access. Also check the newsreel I have cleverly named "Current Events" on the left-hand side of my blog underneath the links!!
Ask your parents to help you if you're not sure if the event you found is appropriate. Remember it must be business-related and affect Canada/Canadian business/Canadian consumers in some way. Hints for possible topics include:

• businesses opening or closing > job creation or job loss resulting
• taxes > affect consumer spending/cost of doing business
• cost of living > affects real estate market and spending
• news on the housing market
• companies merging together
• specific companies or brands introducing or cutting products
• product launch (new product introduced to market) > increased competition?
• product recall
• natural disaster that could affect an industry, trade or business Ex: an oil spill off the BC coast could affect our fishing industry, the volcanic eruption of ash last year disrupted flights, drought or poor weather could affect crops or orchards
• changes in gas prices > affect costs of doing business, shipping costs, consumer spending, car sales
• international news that can directly impact Canadian business  Ex: America's Job Act

Hopefully this will give you an idea of the type of things to look for. Please don't leave it to the last minute!

I look forward to seeing you all this coming week and especially to hearing your current events! :)

'Buy American' provision returns in Obama's jobs act - Canada - CBC News

Today in class I explained the Current Events assignment that you'll all be doing at some point this semester. CBC.ca is a great website and you can always find a relevant business-related article. Just tonight I checked and found this article. Read it and consider the 5W's. This article is a great example of a current event that while focussing on American news, will have a direct impact on business and ultimately the economy in Canada.

'Buy American' provision returns in Obama's jobs act - Canada - CBC News

Sept. 12-13- Economic Resources

For the next couple of days we will be learning about Economic Resources, also known as "Factors of Production". We started talking about this last week. If you recall, there are three main factors of production :

1. Natural resources
2. Human resources
3. Capital resources

+ Intermediate goods

We will learn about how all of these resources are combined to create a finished product that we know and love...Jeans! We will be doing a research activity online to find out how entrepreneur, Levi Strauss, came up with the idea to make the popular denim that we still wear today. The activity is called  The Productive Blues. In completing this activity you will discover and then categorize all of the economic resources used to make denim. Then we will watch a video to see all of the different steps involved in the manufacturing process. You'll never look at a pair of jeans the same again!
Below is the link for the video we will watch in class in case you would like to watch it again:

September- Chapter 1

For the first few weeks of school we will be looking at a variety of topics to introduce you to the concept of "What is Business?"  I warn you, as this is your first look at business there is A LOT of ground to cover...the 'building blocks' of business you could say. You may feel a bit of 'information overload' at first, but don't worry. Not all chapters will be as big as Chapter 1 and we will go through the content slowly together. Just make sure to pay attention in class and take good notes! If you learn as you go, it should all make sense and not seem like so much come test time.  Anyway, in the first few weeks we will start Chapter 1 in our textbook, " The World of Business 4th Ed" (as seen below). We will be defining business and then looking at the following topics:

• Types of Business Ownership
• Goods & Services
• Needs vs Wants/Essential vs Luxury Goods and Services
• Economic Resources aka 'Factors of Production' (Natural, Human, Capital Resources)
• Supply, Demand, and Price & the relationship between them
• Factors that affect supply and demand 
• Supply and Demand graphing
• Interdependence in business
• Business Decision-making Model

This is just an overview of the main topics we will be looking at. Stay tuned for more detailed posts on a more weekly basis. See you in class! :)