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NC Economy and ME!

NC Economy and ME!. In this study you will discover simple elements of how business works and then create your own business with 2 or 3 other partners. Read pgs. 219-223. Define: Renewable resource vs. nonrenewable resource What is a limited resource? Want Trade-off Opportunity Cost

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NC Economy and ME!

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  1. NC Economy and ME! In this study you will discover simple elements of how business works and then create your own business with 2 or 3 other partners.

  2. Read pgs. 219-223 Define: • Renewable resource vs. nonrenewable resource • What is a limited resource? • Want • Trade-off • Opportunity Cost • How is conservation a trade off? Give an example. • List businesses or industries found in NC?

  3. Read pgs. 225-229 • What is an entrepreneur? • What are the 3 factors of production? • How does pollution impact NC? • How do North Carolinians work to use natural resources wisely?

  4. Read pgs. 231 through 235 • What is a budget? • What is interest? • What does invest mean? • What are taxes? • What does paying taxes give us as citizens of the US., NC, and within our county/municipal areas?

  5. Read 238-239 • Explain what a division of labor is and how if impacts a business? • What is interpendence? Give one example of this.

  6. Read 242-245 • What is international trade? • Explain the difference between export and import? • Who is NC largest trading partner? Why do you think this is the case? • How does international trade impact NC’s shipping ports and in turn our economy? • What is a market and how has NC changed in response to its market?

  7. Read the 3 books that goes along with this study • NC’s Economy • NC’s resources • Across NC NOW create a brochure that advertises a NC business based on what you have learned in this study. The brochure can be 2 pages or 3 pages…folded. This will be graded along with the answers to the questions. Consider a business that you could actually do…

  8. ONE more thing… I will support one idea for a business and we as a class will develop a plan, produce the product, set a price, and sell it at the Spring Fling…so put your thinking caps on!

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