INTRODUCTION TO BUSINESS

 


Performance Standards Completed by

Directions: Evaluate the students by checking the appropriate number or letter to indicate the degree of competency. The rating for each task should reflect employability readiness rather than the grades given in class.

Rating Scale: 3 Mastered – can work independently with no supervision

2 Requires supervision – can perform job completely with limited supervision 1 Not Mastered – requires instruction and close supervision

N No Exposure – no experience or knowledge in this area
         
3
2
1
N
UNDERSTAND ECONOMICS
        Distinguish between needs and wants.
        State the basic economic problem.
        Classify economic resources.
        Identify economic systems.
        Explain features of market economy.
        Evaluate different types of business ownership.
        Describe four phases of the business cycle.
        Analyze the effects of inflation and deflation.
        Interpret economic indicators (e.g., CPI, unemployment, GDP)
        Distinguish between world and domestic trade.
        Compare and make economic choices using a decision-making model.
         
3
2
1
N
DEVELOP CONSUMERISM
        Describe the stages in the buying process.
        Compare types of stores.
        Compare and evaluate advertising/promotions.
        Evaluate product warranties.
        Explain rights and responsibilities of consumers.
        Compare sources of consumer information (e.g., consumer reports, government studies)
        Explain the government’s role in consumer affairs.
        Apply wise purchasing practices.
         

 
 
3
2
1
N
USE TECHNOLOGY IN BUSINESS
        Identify basic components of computer.
        Describe characteristics of software used in business (e.g., database, spreadsheet, word processing, desktop publishing)
        Identify and use business software (e.g., database, spreadsheet, word processing, desktop publishing)
        Utilize telecommunications in business (e.g., fax, satellite, telephone)
         
3
2
1
N
EXPLORE BUSINESS CAREERS
        Assess and evaluate personal goals and characteristics.
        Use sources of career information.
        Describe entrepreneurship opportunities.
        Predict future job trends (e.g. telecommuter)
        Develop career paths and related requirements.
        Select a prospective career by using a decision-making model.
         
3
2
1
N
OBTAIN A JOB
        Use sources of job openings.
        Prepare resumes.
        Prepare letters of application.
        Complete job applications.
        Demonstrate job interview skills.
        Prepare follow-up letters.
         
3
2
1
N
USE BANK SERVICES
        Compare types of financial institutions.
        Compare checking and savings accounts.
        Select banking services.
        Open accounts.
        Make deposits.
        Maintain check register.
        Prepare checks.
        Illustrate endorsements.
        Explain electronic banking procedures.
        Reconcile bank statements.
        Explain the functions of the Federal Reserve System.
         

 
 
3
2
1
N
USE CREDIT
        Describe types of credit (e.g., installment, sales, cash credit, notes)
        Explain how a good credit record can be established and maintained.
        Describe advantages and disadvantages of using credit.
        Compare sources of credit.
        Calculate the cost of credit.
        Complete a credit application.
        Determine maturity dates of loans.
        Explain functions of credit reporting agencies.
        Explain how credit laws protect consumers.
         
3
2
1
N
EXPLAIN TAXES
        Explain types and uses of taxes (e.g., income, social security, property, sales)
        Complete W-4 form.
        Interpret W-2 form.
        Complete 1040EZ form.
        Complete 1040A form.
        Compare tax assistance services.
         
3
2
1
N
EXPLAIN INSURANCE
        Explain purposes of insurance.
        Describe types of vehicle insurance.
        Describe financial responsibility laws.
        Describe types of property insurance.
        Describe types of health insurance.
        Describe types of life insurance.
        Describe income insurance.
         
3
2
1
N
INVEST
        Describe importance of investing.
        Compare types of savings accounts.
        Compare stocks and bonds.
        Utilize stock market strategies to interpret stock market reports.
        Describe mutual funds.
        Describe types of income security (e.g., IRAs, Keoghs, annuities, life insurance)
        Evaluate other types of investment opportunities (e.g., baseball cards, comic books, real estate)
        Develop a personal investment plan
         
3
2
1
N
MANAGE PERSONAL FINANCES
        Describe purposes of budgeting.
        Compare gross and net pay.
        Prepare personal balance sheets and income statements.
        Prepare personal balance sheets and income statements.
        Maintain a personal budget and recordkeeping system.