Business Essentials

Business Essentials - Chapter 1

Chapter Objectives

  • Explain the difference between needs and wants.
  • Distinguish between goods and services.
  • Describe the types of economic resources.
  • Understand the basic economic problem.
  • Explain the steps in the decision-making process.
  • Differentiate among the main types of economic systems.
  • Discuss how supply and demand affect prices of products and services.

Economic Decisions and Systems

Chapter 1 PowerPoint

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Chapter 1 Vocab

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Section 1 Review

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Mad Money Game

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Decision Making Process Activity

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Scarcity and Choice Activity

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Section 2 Review

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Section 3 Review

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Section 4 Review

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Decision-Making Problem

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Chapter Review

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Kahoot Review

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Chapter Test

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