Artifact Name

#1 Introduction to Business Ch. 1 The Dynamics of

Business and Economics
#2 Small Business Plan; Products
#3 Ch. 4 Discussion Board Question 1
#4 Ch. 4 Discussion Board Question 2
#5 Ch.1 Discussion Board Question 1
#6 Small Business Plan; Competitive Analysis
#7 Business Cash Flow Spreadsheets; Dollar Mark-Up
for Products
#8 ALEKS Compound Interest
#9 Small Business Plan; Industry Information
#10 Ch.1 Discussion Board Question 2
#11 Ch.10 Discussion Board Question 2
#12 Ch.3 Discussion Board Question 2
Core Competency
The student will demonstrate a working understanding
of economic principles and concepts fundamental to the
operation and/or management of a business
Last Update
#1&2 August, 2013 #3&4 October 9, 2013 #5 August
29, 2013 #6 May 16, 2014 #7 May 12, 2014 #8 May 18,
2014 #9 September, 2013 #10 August 29, 2013 #11
March 14, 2014 #12 October 1, 2013
Rationale
I am including these artifacts because they all have
helped me gain knowledge, skills and improvement in
the subject Economic Principles. All the artifacts listed
discuss all the different economic principles in the
business world. In chapter 1 discussion board question
1 and 2 it talks about how a super Wal-Mart would affect
a small town with small mom and papa stores. Chapter
1 introduction to business is based on all the different
economies in the world, supply and demand, economic
resources and much more. Also on my small business
plan, I touched on how to prevent my business from
being affected if the economy was hit by an inflation or
recession.
Knowledge

I learned a lot in this subject, because of all the
assessments I have done all this year. I learned the
different business structures, competition between
businesses, supply and demand, labor unions, interest
rates, and goods and services. Competition is what I
learned the most this year, it is a competitive world. I
learned that if you have something different, useful, and
affordable in your business, customers will want to
switch to your business rather than other businesses. I
also learned a lot about the different business
structures, for my business I would start off small and
easy, which is a sole proprietorship. A sole
proprietorship is the easiest business structure, because
there is only one owner and the owner decides where
the money goes and comes. Rather than a partnership
where the money gets split evenly between the partners
and they have a very limited source of funds, so
partnerships can successfully happen if both partners
have the funds for it.
Skills
The skills I have developed throughout this subject is
how to calculate different types of rates (compound and
simple), knowing how to control your supply and
demand, and creating spread sheets that automatically
calculate the different interest rates in loans. For
example if I were to buy a car of $10,000 with a down
payment of $2,000 and an interest rate of 6%. I can
create a spread sheet and insert a formula that will
automatically calculate the amount of payments I need
to pay and how much interest I am paying on the loan. I
can also keep track of how much of supply is getting
sold and what the demand is for that supply.
Growth and
Improvement
Statement

I have improved on how to compete in competition with
other businesses and how to keep up with competition. I
have improved on having an opened mind to what I
should offer in my business. For example if I didnt like a
certain product, but my customers did, I would offer this
product in my business anyway, because it is all about
customer satisfaction. I have grown to know how to
control my inventory to have an equilibrium price
between my supply and demand.