Fall 2011

Introduction to Business General Unit Objectives

Exam 1

Chapter 1 Students will be able to list and explain the steps of The Decision Making Process (DMP) with 90% accuracy. The students will demonstrate recall of The DMP and under the steps of The DMP. Students will be able to state the difference between needs and wants with 90% accuracy. The students will demonstrate recall of the definitions and comprehend the differences between needs and wants. Students will be able to explain how business impacts them and how they impact business with 85% accuracy. The students will demonstrate their knowledge of the role of the consumer and the role of a producer and the differences between the two. Chapter 2 Students will be able to explain and differentiate between the four factors of production with 80% accuracy. The students will demonstrate their recall of the four factors of production, what the definitions are, and what the differences between each factor. Students will be able to describe the three basic economic questions each country must answer to make decisions about using resources with 80% accuracy. The students will demonstrate their recall of the economic questions and their understanding of what each question means in regards to available resources. Students will be able to compare and contrast how a market economy and a command economy function by answering the three economic questions with 80% accuracy. The students will demonstrate recall of the three economic questions, recall of the definitions of market and command economies and then be able to take those definitions and analyze their meaning. Chapter 3 Students will be able to describe the four stages of the business cycle with 85% accuracy. The students will demonstrate their recall of the four stages of the business cycle and their definitions. Students will be able to explain how individuals and the government influence the economy with 80% accuracy. The students will demonstrate recall of the business cycle and how it is affected by outside influences.

Fall 2011

Introduction to Business Characteristics of the Target Population

Exam 1

The target population of the instruction is students aged 14 16 and are in grades 9 10. Students of this age are beginning to think about their own thinking (metacognition), and are now capable of higher levels of thinking. Their brains are growing at a rapid rate, although the area of the brain that is responsible for planning, organizing, and prioritizing (the prefrontal cortex) is significantly underdeveloped. Therefore, they have difficulty managing time, planning and staying organized. Students of this age are defining an identity for themselves and are seeking independence along with a strong connection to their families. This impacts their behavior in the classroom, social interactions, achievement, and friendships. As an educator it is important to build strong relationships with students during this time period, provide firm, yet fair discipline, and examine assignments for their relevancy to assess achievement.

Table of Specifications Level of Understanding Content

Basic Economics Concepts (chapter 1): wants and needs, motivations of business, developing products and services, how business impacts you and vice versa Economic Resources and Systems (chapter 2): factors of production, scarcity, three basic economic questions, market v. command economy Economic Activity in a Changing World (chapter 3): US economic history, four U.S. economic shifts, GDP, unemployment rate, rate of inflation, national debt Knowledge Comprehension Application Analysis

Totals 11

13

Total # of Items

12

11

31

Fall 2011

Introduction to Business Scoring

Exam 1

Scoring Plan Each section will be scored individually, and the total points earned in each section will be added together to get the students score on the test. If a question was missed by 75% (or more) of the class, then the question will be thrown out and credit will be given to those who missed the question. The instructor will examine the question to decide if: 1) it should be removed for reasons of ambiguity or 2) the content was not properly covered for that question and the material needs reviewed. Section I. True/False Each question is worth 2 points. The 1st point is awarded for correctly supplying a true or false answer. The 2nd point is awarded for correctly fixing the underlined portion of the statement is the answer is false. Total possible points = 20. 1. FALSE Would I make the same choice again? or something similar to that question. 2. FALSE gain information that helps businesses identify opportunities or something similar to that statement. 3. TRUE 4. FALSE nonrenewable natural resource 5. TRUE 6. TRUE 7. FALSE in a command economy 8. FALSE 1800s 9. FALSE an economy produces more goods that people want and sellers have to lower prices and cut production or something similar to that statement. 10. TRUE Section II. Multiple Choice Each question is worth 1 point. The point is awarded if the best answer to the multiple choice question is chosen. Total possible points = 10. 11. D 12. B 13. A 14. C 15. B 16. A 17. C 18. C 19. B 20. D

Fall 2011 Section III. Short Answer

Introduction to Business

Exam 1

Questions 21-25 are worth 1 point each for providing the word(s) that best completes each sentence. Questions 26-30 each have their own separate directions and point values. Question 26 is worth 5 points, 1 point for each step of the Decision Making Process that is labeled correctly. Questions 27-29 are worth 3 points each: 1 point per correct example given, 3 examples needed to complete each question completely. Question 30 is worth 6 points and requires five sentences or less to answer the question. If the answer goes over five sentences, 1 point will be deducted, even if the answer provided is correct. Total possible points = 25. 21. profit 22. scarcity 23. factors of production 24. economics 25. standard of living 26. Identify the situation Identify possible courses of action Determine the pros vs. cons Make a decision Evaluate your decision. Credit will be given for answers that are similar, as long as the idea is the same and the steps remain in correct order. 27. Individual wants are ANY wants and there are endless answers that will be accepted here, as long as they are an example of things that you do not have to have to survive, but would like to have; new car, cell phone, jewelry, makeup, hair spray, perfume/cologne, television, computer, GPS, etc. 28. Food, water, shelter, and clothing; any THREE of these four will be accepted. 29. Any relevant example of economic recession/depression that we discussed in class will be accepted here; answers could include: The Great Depression, early 1980s, a period after 9-11 (in 2001), 2007-2009, etc. 30. The answer is correct as long as it contains some variation of the following: supply and demand is an economic model of price determination in the market place; when supply is high and demand is low, the price is low; when supply is low and demand is high, the price is high, etc. Section IV. Essay The essay question is worth 15 points. Six points will be awarded for the three basic economic questions listed and explained (2 points per question and explanation). Nine points will be awarded for proper compare and contrast of how a market economy and command answers the three economic questions (3 points per comparison of the three economic questions). Total possible points = 15. 31. What should be produced? How should it be produced? Who should share in what is produced?; a market economy is an economic system in which economic decisions are made by the market place; resources are privately owned; business owners decide how their businesses should be run therefore, they answer the economic questions based on the needs/wants of the market place; a command economy is an economic system in which a central authority makes key economic decisionsthe government dictates what will be produced and how it will be produced, not the market place; the government of a command economy answers the economic questions

Fall 2011 Section V. Performance Assessment

Introduction to Business

Exam 1

This assessment allows students to use their imagination, incorporate their own personal interests, and use their knowledge of business from the first three chapters of the text to answer the questions posed. This performance assessment will be assigned as a take-home portion of the test and will be given to the students on a separate sheet of paper after they turn in their test. This test will be given on a Monday and the performance assessment will be due on Friday of the same week, allowing students time take it home, reflect, and give a well thought out answer. The performance assessment is worth 30 points: 15 points are awarded for a well prepared essay in diary entry form (3 points), explaining the entrepreneurial career chosen (6 points) and why the student is interested in pursuing it (6 points). 15 points will also be awarded for each of the five additional questions being answered as completely as possible (3 points per question). Total possible points = 30.

Grading True/False 20 points Multiple Choice 10 points Short Answer 25 points Essay 15 points Performance Assessment 30 points Exam 1 Total 100 points A = 90 100 pts B = 80 89 pts C = 70 79 pts D = 60 69 pts F = 59 pts or below

Accommodations for Students with Visual Impairments If a student has a severe visual impairment which renders them without any sort of vision, then either a Braille version of the test can be created, or the student can have the test read aloud to them. If a student has some vision, they can opt for a large-print version of the test, a Braille version, or have the test read aloud to them. Students with visual impairments will also be given additional time to complete the test and the performance assessment if they need it. If more advanced programs or devices are available, the student can also take the test on a computer with assistive technologies built-in that can read the test for them and help them input their answers electronically. If the student has any additional requirements listed on their IEP, those accommodations will be met as well.