Introduction to Business

Consumer Decisions1

  • 1

    Describe the stages of wise and unwise buying practices and the process. 1.1

  • 2

    Classify and examine consumer resources for the collection of information for making buying decisions 1.2

  • 3

    Explain the government’s role in consumer affairs (e.g., Federal Reserve, FDIC, State Attorney General’s Office) 1.3

  • 4

    Compare and contrast the components of a guarantee, warranty, and consumer contract. 1.4

  • 5

    Differentiate rights and responsibilities of consumers (e.g., following manufacturer’s directions, claims process for defective merchandise)1.5

Economic Awareness2

  • 1

    Distinguish between goods and services 2.1

  • 2

    Examine goods and services as related to the economic problem.2.2

  • 3

    Compare and contrast economic systems and their resources.2.3

  • 4

    Evaluate the relationship between supply, demand, and price. 2.4

  • 5

    Interpret the effects of inflation and deflation 2.5

  • 6

    Describe the four phases of the business cycle 2.6

  • 7

    Analyze economic indicators (e.g., CPI, unemployment, GNP, GOP) 2.7

  • 8

    Distinguish the different roles  in the economy (e.g., consumers, producers, government).2.8

  • 9

    Explain economic interdependence (e.g., importing, exporting) 2.9

  • 10

    Describe the major elements of the U.S. Economy 2.10

Global Economic Awareness3

  • 1

    Describe the influence of international trade on business 3.1

  • 2

    Explain marketing and its importance on a global economy 3.2

  • 3

    Describe ethical standards, social and cultural differences of various cultures 3.3

  • 4

    Assess the impact of the global economy on consumers 3.4

  • 5

    Discuss the impact of globalization on business 3.5

  • 6

    Compare and contrast the US dollar to other currencies. 3.6

Entrepreneurship4

  • 1

    Identify the characteristics of an entrepreneur.4.1

  • 2

    Compare one’s individual characteristics to those of an entrepreneur 4.2

  • 3

    Compare and contrast the rewards and risks of owning a business 4.3

  • 4

    Identify the process of starting a business by utilizing  a business plan (e.g., description of company, description of service/product, etc) 4.4

Business Operations5

  • 1

    Explain organizational design of businesses (e.g., business ownership, types of businesses, etc.) 5.1

  • 2

    Explain the relationship between the essential business functions (e.g., management, marketing, etc)5.2

  • 3

    Evaluate ways technology impacts business. 5.3

  • 4

    Demonstrate appropriate standards of  customer service 5.4

  • 5

    Explain the functions of human resource management 5.5

  • 6

    Explain forms of financial exchange (cash, credit, debit, EFT, etc.) 5.6

  • 7

    Describe sources of income (sales, interest, rent, dividends, etc.) 5.7

  • 8

    Explain the concept of marketing and advertising strategies5.8

  • 9

    Describe the functions of a manager in a business environment (e.g., organize, plan, direct) 5.9

  • 10

    Describe different management styles (e.g., coaching, directive) 5.10

Communication and Interpersonal Skills6

  • 1

    Follow and give verbal and written instructions6.1

  • 2

    Employ good listening skills and demonstrate nonverbal communication techniques6.2

  • 3

    Demonstrate Netiquette6.3

  • 4

    Explain how diversity impacts the workplace6.4

  • 5

    Demonstrate use of non-bias language as a communication tool.6.5

  • 6

    Assess appropriate workplace behaviors (e.g., awareness of issues relating to harassment, business etiquette)6.6

  • 7

    Identify and apply the decision-making process to a given situation6.7

  • 8

    Examine unethical conduct and potential consequences 6.8

  • 9

    Differentiate between ethical and legal concepts 6.9

  • 10

    Demonstrate effective oral presentation skills6.10

Employability Skills7

  • 1

    Explain why employment is important 7.1

  • 2

    Assess individual interests and aptitudes 7.2

  • 3

    Relate individual skills and interests to careers 7.3

  • 4

    Develop short-term, intermediate and long-term career goals 7.4

  • 5

    Complete a job application and other employment documents (Resume, cover letter, W-4, I-9, etc)7.5

  • 6

    Demonstrate interviewing skills 7.6

  • 7

    Describe and demonstrate appropriate ways to terminate employment7.7

Research Skills8

  • 1

    Identify different types of written and digital resources (e.g., websites, blogs, videos, magazines, surveys, journals, personal interviews, podcasts) 8.1

  • 2

    Evaluate the credibility of resources 8.2

  • 3

    Demonstrate effective research of a given topic8.3

  • 4

    Demonstrate citation of primary and secondary resources 8.4

  • 5

    Differentiate between paraphrasing and plagiarizing 8.5

Frequently asked questions

What grade levels do these standards cover?
Grade 9, Grade 10, Grade 11, and Grade 12
Where can I read the official document?
2022Introduction to Business_ Updated