Question
Unit 2 Outline & Vocabulary - Classifications and Types of Businesses
Materials
Teacher lesson intro page (this is displayed every time you enter a lesson)
Online Curriculum
Support
Pacing Guide
Contacting the teacher through: Text Messages, Voice Calls or YouCanBookMe
Message Board which includes:
Live Lesson Recordings
Open Tutorial Times
Quiz and Test Reviews
Teacher contact information
🎧 Podcast (within the curriculum) (36:29)
🎧 Optimized Podcast (6:32)
đź“€ Video Summary (7:16)
đź“ť Vocabulary
Assessments and Information
Lesson 8 has a Critical Thinking Question portfolio item
Lesson 11 has a Quiz
Read the teacher lesson intro page
If you need to, please check message board for additional information
What will you learn in this unit?
Classify types of business that market goods and services
Identify types of retailers and suppliers
Explain the significance of free enterprise
Describe the role of wholesalers
New Vocabulary
Lesson 2
private enterprise
a system in which businesses operate and compete with each other largely without government interference—also referred to as free enterprise
red tape
excessive bureaucracy or rules
Lesson 3
producers
those who create and distribute actual products
extractor
a business that removes natural resources from the land
raw materials
substances used in the first stage of production
wholesaler
a business that buys products in bulk and distributes them to other businesses
inventory
goods available for sale
trend
something that is popular for a specific time and then fades
Lesson 4
trade industry
the industry that promotes the selling of goods
merchandiser
a business that makes products available to the public or other businesses
distributer
a business that acts as an intermediary between a wholesaler and a retailer
ecommerce
the exchange of goods and services on the internet
in stock
available for distribution
Lesson 5
gross domestic product
the total value of the goods and services produced by a country in a year
Back to Top
Critical Thinking Questions
Please follow the directions below to complete the portfolio item. Portfolio Items are 35% of your course grade
Type your responses in a word processed document and upload that document to the dropbox.
Use Google Docs, but must download an actual file to upload to the Dropbox (no share links) - use the File/Download commands in Google Docs.
Do not submit picture files.
Grading Rubric
Requirements
Possible Points
Portfolio Item - Part 1 (Question #1)
Copy this template
Define each term found in the copied template
Terms can be found in Lessons 3, 4, and 5
Use each defined term in a complete sentence
5
Portfolio Item - Part 2 (Question #4)
Answer the questions found in the copied template
Use complete sentences
5
Total
10
Example
Portfolio Item - Part 1
Malware
Definition: software designed to damage or disable computer systems
Sentence: “Malware is harmful software that infiltrates devices to steal data, damage systems, or disrupt operations, posing serious risks to security and privacy.”
…
Portfolio Item - Part 2
Explain the difference between a wholesaler and factory direct business.
“A wholesaler purchases products in bulk from manufacturers and resells them—usually in smaller quantities—to retailers or other businesses, serving as a middle step in the supply chain. A factory direct business sells products straight from the manufacturer to the end customer, skipping the wholesaler and retailer, which
Materials
Teacher lesson intro page (this is displayed every time you enter a lesson)
Online Curriculum
Support
Pacing Guide
Contacting the teacher through: Text Messages, Voice Calls or YouCanBookMe
Message Board which includes:
Live Lesson Recordings
Open Tutorial Times
Quiz and Test Reviews
Teacher contact information
🎧 Podcast (within the curriculum) (36:29)
🎧 Optimized Podcast (6:32)
đź“€ Video Summary (7:16)
đź“ť Vocabulary
Assessments and Information
Lesson 8 has a Critical Thinking Question portfolio item
Lesson 11 has a Quiz
Read the teacher lesson intro page
If you need to, please check message board for additional information
What will you learn in this unit?
Classify types of business that market goods and services
Identify types of retailers and suppliers
Explain the significance of free enterprise
Describe the role of wholesalers
New Vocabulary
Lesson 2
private enterprise
a system in which businesses operate and compete with each other largely without government interference—also referred to as free enterprise
red tape
excessive bureaucracy or rules
Lesson 3
producers
those who create and distribute actual products
extractor
a business that removes natural resources from the land
raw materials
substances used in the first stage of production
wholesaler
a business that buys products in bulk and distributes them to other businesses
inventory
goods available for sale
trend
something that is popular for a specific time and then fades
Lesson 4
trade industry
the industry that promotes the selling of goods
merchandiser
a business that makes products available to the public or other businesses
distributer
a business that acts as an intermediary between a wholesaler and a retailer
ecommerce
the exchange of goods and services on the internet
in stock
available for distribution
Lesson 5
gross domestic product
the total value of the goods and services produced by a country in a year
Back to Top
Critical Thinking Questions
Please follow the directions below to complete the portfolio item. Portfolio Items are 35% of your course grade
Type your responses in a word processed document and upload that document to the dropbox.
Use Google Docs, but must download an actual file to upload to the Dropbox (no share links) - use the File/Download commands in Google Docs.
Do not submit picture files.
Grading Rubric
Requirements
Possible Points
Portfolio Item - Part 1 (Question #1)
Copy this template
Define each term found in the copied template
Terms can be found in Lessons 3, 4, and 5
Use each defined term in a complete sentence
5
Portfolio Item - Part 2 (Question #4)
Answer the questions found in the copied template
Use complete sentences
5
Total
10
Example
Portfolio Item - Part 1
Malware
Definition: software designed to damage or disable computer systems
Sentence: “Malware is harmful software that infiltrates devices to steal data, damage systems, or disrupt operations, posing serious risks to security and privacy.”
…
Portfolio Item - Part 2
Explain the difference between a wholesaler and factory direct business.
“A wholesaler purchases products in bulk from manufacturers and resells them—usually in smaller quantities—to retailers or other businesses, serving as a middle step in the supply chain. A factory direct business sells products straight from the manufacturer to the end customer, skipping the wholesaler and retailer, which
Answers
GPT-4o mini
can lead to lower prices for consumers and potentially higher profit margins for the manufacturer.”
---
### Unit 2 Outline & Vocabulary - Classifications and Types of Businesses
#### Materials
- **Teacher Lesson Intro Page:** Presented at the start of each lesson.
- **Online Curriculum:** Access to all unit materials and resources.
#### Support
- **Pacing Guide:** A timeline to help manage coursework.
- **Contacting the Teacher:**
- Text Messages
- Voice Calls
- YouCanBookMe scheduling
- **Message Board Includes:**
- Live Lesson Recordings
- Open Tutorial Times
- Quiz and Test Reviews
- Teacher Contact Information
- **Podcast Materials:**
- 🎧 Regular Podcast (36:29)
- 🎧 Optimized Podcast (6:32)
- đź“€ Video Summary (7:16)
- **Vocabulary List:** Key terms for the unit.
#### Assessments and Information
- **Critical Thinking Question (Portfolio Item in Lesson 8):**
- Reflective questions related to content.
- **Quiz in Lesson 11:**
- Assessing understanding of unit concepts.
- **Reading Teacher Lesson Intro Page:**
- Important for understanding lesson objectives.
- **Message Board Check:**
- For any updates or additional information.
#### Learning Objectives
- Classify types of businesses that market goods and services.
- Identify various types of retailers and suppliers.
- Explain the significance of free enterprise in the business community.
- Describe the role and importance of wholesalers in the supply chain.
#### New Vocabulary
**Lesson 2**
- **Private Enterprise:** A system where businesses operate and compete largely without government interference (also known as free enterprise).
- **Red Tape:** Excessive bureaucracy or rules that can hinder business operations.
**Lesson 3**
- **Producers:** Entities that create and distribute actual products.
- **Extractor:** A business that removes natural resources from the land.
- **Raw Materials:** The basic substances used in the initial stages of production.
- **Wholesaler:** A business that buys products in bulk and sells them to retailers or other businesses.
- **Inventory:** The goods available for sale by a business.
- **Trend:** A temporary popularity pattern in the market.
**Lesson 4**
- **Trade Industry:** The sector focused on the promotion and selling of goods.
- **Merchandiser:** A business that makes products available to the public or other businesses.
- **Distributor:** An intermediary business between a wholesaler and a retailer.
- **Ecommerce:** The buying and selling of goods and services through the internet.
- **In Stock:** Goods that are available for distribution to customers.
**Lesson 5**
- **Gross Domestic Product (GDP):** The total value of all goods and services produced within a country in a year.
---
### Critical Thinking Questions
#### Portfolio Item Instructions
- **Format:** Typed document, upload via Dropbox (Google Docs download).
- **Avoid:** Picture files; ensure you submit a text file.
**Grading Rubric:**
- **Part 1 (Question #1):**
- Define terms (from Lessons 3, 4, 5) and use them in complete sentences. (5 points)
- **Part 2 (Question #4):**
- Answer the provided questions in complete sentences. (5 points)
**Total Possible Points: 10**
---
### Example for Portfolio Item
#### Portfolio Item - Part 1
- **Term:** Malware
- **Definition:** Software designed to damage or disable computer systems.
- **Sentence:** “Malware is harmful software that infiltrates devices to steal data, damage systems, or disrupt operations, posing serious risks to security and privacy.”
*Continue with other terms from Lessons 3, 4, and 5.*
#### Portfolio Item - Part 2
- **Question:** Explain the difference between a wholesaler and a factory direct business.
- **Answer:** “A wholesaler purchases products in bulk from manufacturers and resells them—usually in smaller quantities—to retailers or other businesses, serving as a middle step in the supply chain. A factory direct business sells products straight from the manufacturer to the end customer, skipping the wholesaler and retailer, which can lead to lower prices for consumers and potentially higher profit margins for the manufacturer.”
---
This outline serves as a structured guide for approaching Unit 2 on classifications and types of businesses, providing essential resources, assessments, and vocabulary.
---
### Unit 2 Outline & Vocabulary - Classifications and Types of Businesses
#### Materials
- **Teacher Lesson Intro Page:** Presented at the start of each lesson.
- **Online Curriculum:** Access to all unit materials and resources.
#### Support
- **Pacing Guide:** A timeline to help manage coursework.
- **Contacting the Teacher:**
- Text Messages
- Voice Calls
- YouCanBookMe scheduling
- **Message Board Includes:**
- Live Lesson Recordings
- Open Tutorial Times
- Quiz and Test Reviews
- Teacher Contact Information
- **Podcast Materials:**
- 🎧 Regular Podcast (36:29)
- 🎧 Optimized Podcast (6:32)
- đź“€ Video Summary (7:16)
- **Vocabulary List:** Key terms for the unit.
#### Assessments and Information
- **Critical Thinking Question (Portfolio Item in Lesson 8):**
- Reflective questions related to content.
- **Quiz in Lesson 11:**
- Assessing understanding of unit concepts.
- **Reading Teacher Lesson Intro Page:**
- Important for understanding lesson objectives.
- **Message Board Check:**
- For any updates or additional information.
#### Learning Objectives
- Classify types of businesses that market goods and services.
- Identify various types of retailers and suppliers.
- Explain the significance of free enterprise in the business community.
- Describe the role and importance of wholesalers in the supply chain.
#### New Vocabulary
**Lesson 2**
- **Private Enterprise:** A system where businesses operate and compete largely without government interference (also known as free enterprise).
- **Red Tape:** Excessive bureaucracy or rules that can hinder business operations.
**Lesson 3**
- **Producers:** Entities that create and distribute actual products.
- **Extractor:** A business that removes natural resources from the land.
- **Raw Materials:** The basic substances used in the initial stages of production.
- **Wholesaler:** A business that buys products in bulk and sells them to retailers or other businesses.
- **Inventory:** The goods available for sale by a business.
- **Trend:** A temporary popularity pattern in the market.
**Lesson 4**
- **Trade Industry:** The sector focused on the promotion and selling of goods.
- **Merchandiser:** A business that makes products available to the public or other businesses.
- **Distributor:** An intermediary business between a wholesaler and a retailer.
- **Ecommerce:** The buying and selling of goods and services through the internet.
- **In Stock:** Goods that are available for distribution to customers.
**Lesson 5**
- **Gross Domestic Product (GDP):** The total value of all goods and services produced within a country in a year.
---
### Critical Thinking Questions
#### Portfolio Item Instructions
- **Format:** Typed document, upload via Dropbox (Google Docs download).
- **Avoid:** Picture files; ensure you submit a text file.
**Grading Rubric:**
- **Part 1 (Question #1):**
- Define terms (from Lessons 3, 4, 5) and use them in complete sentences. (5 points)
- **Part 2 (Question #4):**
- Answer the provided questions in complete sentences. (5 points)
**Total Possible Points: 10**
---
### Example for Portfolio Item
#### Portfolio Item - Part 1
- **Term:** Malware
- **Definition:** Software designed to damage or disable computer systems.
- **Sentence:** “Malware is harmful software that infiltrates devices to steal data, damage systems, or disrupt operations, posing serious risks to security and privacy.”
*Continue with other terms from Lessons 3, 4, and 5.*
#### Portfolio Item - Part 2
- **Question:** Explain the difference between a wholesaler and a factory direct business.
- **Answer:** “A wholesaler purchases products in bulk from manufacturers and resells them—usually in smaller quantities—to retailers or other businesses, serving as a middle step in the supply chain. A factory direct business sells products straight from the manufacturer to the end customer, skipping the wholesaler and retailer, which can lead to lower prices for consumers and potentially higher profit margins for the manufacturer.”
---
This outline serves as a structured guide for approaching Unit 2 on classifications and types of businesses, providing essential resources, assessments, and vocabulary.