Week of Feb.6-10th

Hi Business Ed!

Last week we started learning about business and specifically about Economic Resources, also known as "Factors of Production". If you recall, there are three main factors of production :

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

+ a 4th- Intermediate goods

You learned about how all of these resources are combined to create a finished product that we know and love. Hopefully You'll never look at a pair of jeans the same again!

Below is the link for the video that we watched in class in case you would like to watch it again:

This week we will go over our Supply & Demand and review what causes and affects them. We will begin graphing how price and quantity are affected by a change in the marketplace. We will then continue in our notes for Chapter 1, talking about competition, interdependence, and decision-making in business. 
 
If time allows, I also plan to show a video 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!

We should be able to finish this chapter this week, so I'll prepare you that a Chapter 1 test is not in the too distant future. Not to worry though- you'll have plenty of time to review and prepare. The test date is T.B.A. (To Be Announced) as I'll gauge it as the week progresses. As it is only a 4 day week this week, the test may be pushed back to the following Monday depending on how much we get accomplished this week.

See you in class!