Course Profile Introduction to Business, Grade 9 or 10, Open, Catholic

Unit 1: The Marketplace: Challenges and Opportunities

Time: 25 hours

Activity 1 | Activity 2 | Activity 3 | Activity 4 | Activity 5

Unit Developers: Toronto Catholic District School Board, Halton Catholic District School Board

Development Date: February 2000

Unit Description

In this unit students develop an understanding of how informed consumers and producers influence the manner in which Canadian businesses conduct their affairs in competitive markets. Through exposure to e-commerce and best practices, students examine the diverse current-day factors affecting Canadian businesses. This unit forms the basis for a working knowledge of market forces and introduces students to the reality of competition. They explore and demonstrate how consumer spending can promote the creation of healthy communities in today’s changing society.

Strand(s) and Expectations

Ontario Catholic School Graduate Expectations: CGE1d 2a,b,d 3d 4b,c,f 5a,e,g.

Strand(s): The Role and Impact of Business, Conducting Business in a Competitive and Changing Workplace

Overall Expectations: RBV.01,02; CCV.02,03.

Specific Expectations: RB1.01,02.03; RB3.02; CC1.02; CC2.01,02; CC3.03.

Activity Titles (Time + Sequence)

Activity 1	Consumer and Business Trends	375 minutes
Activity 2	Needs and Wants	150 minutes
Activity 3	Targeting the Market	225 minutes
Activity 4	Market Places	300 minutes
Activity 5	Supply, Demand, and Price	450 minutes

Prior Knowledge Required

· No prior knowledge of business is assumed.

Unit Planning Notes

· Unit 5: The Corporate Profile: Analysing a Business runs concurrently throughout the course and should be introduced toward the end of this unit. Many course expectations are met through the eventual completion and presentation of this student product.

· Teachers should identify appropriate locations in the local community for a field trip that supports the expectations in this unit and make any necessary arrangements.

· Every attempt should be made to book guest business speakers. Many of these people might be from the local community or even parents or older brothers and sisters of students in the class. It might help the teacher to circulate a questionnaire at the beginning of this unit in order to surface possible candidates. This practice authenticates the course materials and builds rapport.

· Teachers are advised to be on the constant look out for materials and news to keep the content interesting and relevant.

· While this course is not intended to be taught in a computer lab, individual students should have access to computers and the Internet on an as needed basis. It may be desirable for the teacher to book an entire computer lab for specific classes

· When using informal observation as a formative evaluation strategy Appendix 1.5.8 – Informal Observation Rubric should be modified to reflect the content being assessed.

Teaching/Learning Strategies

Teacher-Centred	Learner-Centred	Self-Directed
Teacher-led review	Text referencing
	Note making
Work/Task sheet
Board work	Demonstration	Electronic media research
Note taking
	Visual organizers
Socratic	Group discussion
Video
Overhead	Computer lab work
	Field trip
	Peer helping

Assessment and Evaluation

Diagnostic

· Informal Observation

· Checklist

Formative

· Informal and Formal Observation

· Bulletin Boards

· Graphic Organizers

· Verbal and Written Feedback

· Quizzes

· Assignments

· Rubrics

Summative

· Assignments

· Tests

Resources

Print

Caetano, R., J. Schermerhorn, and A. Templer. Management For Productivity. Toronto, Ontario: John Wiley & Sons, 1995.

De Bono, Edward. Serious Creativity. New York, New York: HarperBusiness, 1992.

Doherty, Dennis C. Making Economic Choices. Toronto, Ontario: Copp Clark Pitman, 1992.

James, E. Economics – A Problem Solving Approach. Toronto, Ontario: Prentice Hall, 1996.

Kretchman, M. Lily, Lori Cranson, and Bill Jennings. Entrepreneurship Creating a Venture. Toronto, Ontario: John Wiley and Sons Canada Limited, 1991.

Popcorn, Faith and Lys Marigold. Clicking 16 Trends to Future Fit Your Life, Your Work and Your Business. New York, NY: Harper Collins Publisher, 1996.

Popcorn, Faith and Lys Marigold. Clicking 17 Trends that Drive Your Business and Your Life. New York, NY: Harper Collins Publisher, 1998.

Rabbior, Gary. Money and Youth. Toronto, Ontario: Canadian Foundation For Economic Development, 1997.

Stewart, Margaret J., Diane Johns, David Notman, and Lynn L. Vos. Marketing A Global Perspective. Toronto, Ontario: John Wiley and Sons Canada Limited, 1991.

Video

Business Concepts. “The Principles of Economics.” Toronto, Ontario: International Tele-Film (TVO), 1987.

Wilson, Jack and David Notman. The World of Business Video Series. Scarborough, Ontario: ITP Nelson, 1997.

Web Sites

Statistics Canada
www.statcan.ca

Virtual Mall
www.NorstarMall.ca

Activity 1: Consumer and Business Trends

Time: 375 minutes

Description

Students engage in exercises that are designed for them to see first hand that business has an impact on our daily lives. They understand how the market responds to trends and satisfies consumer demand.

Strand(s) and Expectations

Ontario Catholic School Graduate Expectations

Students will:

· read, understand, and use written materials effectively (CGE 2b);

· write and speak fluently one or both of Canada’s official languages (CGE 2d);

· take initiative and demonstrate Christian leadership (CGE 4c);

· apply effective communication, decision-making, problem solving, time and resource management skills (CGE 4f);

· work effectively as an independent team member (CGE 5a);

· respect the rights, responsibilities, and contributions of selves and others (CGE 5e);

· achieve excellence, originality, and integrity in one’s own work and support these qualities in the work of others (CGE 5g).

Strand(s): The Role and Impact of Business, Conducting Business in a Competitive and, Changing Workplace Personal Finance Skills

Overall Expectation

· explain how current issues affect Canadian business (CCV.03).

Specific Expectations

distinguish the various ways in which business activity can affect the quality of life (e.g., level of income, products available, environmental impact, stress in the workplace) (RB3.02);

· analyse how technology has influenced the Canadian workplace (CC3.01)v.

Planning Notes

· The teacher should have available examples of past fads (e.g., hula-hoops, bell-bottom pants, Barbies, vinyl record albums and 45s) for students to examine.

· It is necessary for the teacher to have a good supply of magazines. The teacher may

· want to ask students to also bring in magazines.

· The teacher may need to supply scissors, glue, and bristol board.

· The teacher posts an example of a word cluster in the classroom.

Prior Knowledge Required

No prior knowledge is required.

Teaching/Learning Strategies

1. The teacher should begin by defining trends and fads. Use examples such as the hula-hoop or mood rings to illustrate that fads are short-term changes and that trends are long-term changes.

2. As a class create a word cluster with “fad” as the centre word. The teacher records on the board students’ responses. (See Appendix 1.1.1 – Word Cluster Example and Template.)

3. As a class create a word cluster with “trend” as the centre word. This is a brainstorming exercise. The teacher records students’ responses on the board.

4. Discuss the responses as a class, focussing on distinguishing between fads and trends.

5. Show the video “What’s Cool” from The World of Business series (15 minutes). Distribute the question sheet for students to complete while viewing the video. Discuss the video question sheet.

6. Divide the students into pairs. Assign them either Fads or Trends. Have them use magazines and newspapers to collect examples of fads and trends in society today. Students then use their collection to create a collage poster. (See Appendix 1.1.2 – Collage Rubric.)

7. As an out of class assignment students choose a product and complete a From – To exercise that shows the evolution of the product. (See Appendix 1.1.3 – From – To Exercise.)

8. Show the video “Breadman” from The World of Business series (15 minutes). Distribute the question sheet for students to complete while viewing the video. Use the video question sheet as a springboard to develop a teacher-directed definition of market and market niche.

9. As a class use a brainstorming strategy to identify market niches in the community. The teacher records responses on the board and follows with a summary discussion.

10. Use Appendix 1.1.4 - Trends to explain trends, which have cultivated the “new consumer”.

11. Discuss what the term lifestyle changes means with students. Divide students into groups and assign a lifestyle change. Workplace, Home, Recreation/Leisure Time, Society, Communications Technology, Environment, and Mobile Society are suggestions you may wish to use. Using chart paper and markers have students write the lifestyle in one column and in another column list the products that are available to support the change.

Example:

Lifestyle Change: Workplace Product to Support Change

Long working hours Ready-made dinners

Post student lists on the board and review the responses.

12. The teacher may want to show the video “Technology” from The World of Business series (15 minutes) to illustrate how products emerge to address lifestyle changes.

13. Introduce the concept to students that business is not only conducted between a business and a consumer but also between one business and another. Divide the class into groups of three or four and have students complete Appendix 1.1.5 – Suppliers. The teacher leads a review of responses.

14. Discuss the concepts of just in time, outsourcing, tendering, partnership, and International Standards Organization (ISO) as they relate to business-to-business activity.

Assessment/Evaluation Techniques

Formative

Appendix 1.1.1 – Word Cluster Example and Template

Appendix 1.1.2 – Collage Rubric

Appendix 1.1.3 – From – To Exercise

Appendix 1.1.5 – Suppliers

Appendix 1.5.8 – Informal Observation Rubric

Accommodations

· Gifted students could be asked to mentor peers requiring extra assistance.

· Refer to Accommodations Chart if required.

Resources

Kretchman, M. Lily, Lori Cranson, and Bill Jennings. Entrepreneurship: Creating a Venture. Toronto, Ontario: John Wiley and Sons Canada Limited, 1991.

Popcorn, Faith and Lys Marigold. Clicking 16 Trends to Future Fit Your Life, Your Work and Your Business. New York, NY: Harper Collins Publisher, 1996.

Popcorn, Faith and Lys Marigold. Clicking 17 Trends that Drive Your Business and Your Life. New York, NY: Harper Collins Publisher, 1998.

Video

Wilson, Jack and David Notman. The World of Business Video Series, “Breadman” and “What’s Cool”. Scarborough, Ontario: ITP Nelson, 1997. 15 min.

Appendices

Appendix 1.1.1 – Word Cluster Example and Template

Appendix 1.1.2 – Collage Rubric

Appendix 1.1.3 – From – To Exercise

Appendix 1.1.4 – Trends

Appendix 1.1.5 – Suppliers

Appendix 1.5.8 – Informal Observation Rubric

Activity 2: Needs and Wants

Time: 150 minutes

Description

This activity is designed to allow students to explore the diverse nature of their needs and wants and the limited nature of their personal and financial resources. They are encouraged to share their opinions with their peers in this area. Students apply their knowledge in exercises designed to categorize and prioritize their needs. They begin the process of recognizing that needs and wants act as the source for business opportunities.

Strand(s) and Expectations

Ontario Catholic School Graduate Expectations

Students will:

· develop attitudes and values founded on Catholic social teaching and acts to promote social responsibility, human solidarity, and the common good (CGE 1d);

· listen actively and critically to understand and learn in light of gospel values (CGE 2a);

· make decision in light of gospel values with an informed moral conscience (CGE 3d);

· demonstrate flexibility and adaptability (CGE 4b);

· work effectively as an interdependent team member (CGE 5a);

· respect the rights, responsibilities, and contributions of selves and others (CGE 5e).

Strand(s): The Role and Impact of Business, Conducting Business in A Competitive and Changing Workplace

Overall Expectations

· demonstrate an understanding of how businesses respond to needs, wants, and demand (RBV.01).

Specific Expectations

· explain how needs, wants, and demands create opportunities for business (RB1.02)v.

Planning Notes

· When students work in pairs, the teacher pairs students based on various criteria (e.g., someone that has a birthday in the same month, someone with the same eye colour, etc.).

· Teachers should provide chart paper and markers.

· Marketing A Global Perspective provides the teacher with an explanation of Maslow’s Hierarchy of Needs (pp. 64-65).

Prior Knowledge Required

No prior knowledge is required.

Teaching/Learning Strategies

1. Students are to distinguish between the terms needs and wants by developing their own definitions on the handout provided by the teacher. (See Appendix 1.2.1 – Needs and Wants.) They proceed to provide a listing of four needs and four wants directly below their definitions.

2. In pairs, students share the content of their lists and then develop a more precise definition for the terms. They proceed to classify their consolidated list of needs and wants into categories and rank them in order of importance from most to least important. They should also list all resources (financial and other) that they may use in attaining their needs and wants.

3. With the same partner, students transcribe all of the information onto chart paper. They post their completed chart on the wall. Teacher should discuss how businesses respond to this information.

4. Based on students’ posted work, the teacher requests student feedback in defining the terms needs and wants and explains the concept of the economizing dilemma – we have unlimited needs and wants but limited resources to fulfill these ideal goals. The definitions are developed on the board.

5. Students are provided with a scrambled list of Maslow’s needs. (See Appendix 1.2.2 – Maslow’s Needs.) With the same partner, they rank these needs in a hierarchical fashion. (The teacher may need to explain what is meant by a hierarchy.)

6. The teacher should engage students in a discussion as to how and why they ranked the needs as they did. Students are encouraged to explore their interpretations of what might inhibit their ability to reach any of these needs and the teacher compiles a list on the board which the students copy into their notebooks.

7. Distribute a copy of Maslow’s Hierarchy of Needs. Students compare Maslow’s hierarchy with their own and contrast any differences first with their partner and then as a group. They proceed to individually list businesses that have responded and/or were established in response to satisfying these needs.

Assessment/Evaluation Techniques

Formative

Appendix 1.2.1 – Needs and Wants

Appendix 1.2.2 – Maslow’s Needs

Appendix 1.5.8 – Informal Observation Rubric

Verbal feedback

Summative

Quiz – teacher-developed

Accommodations

· Teach students to verbalize all their ideas prior to writing them down.

· Encourage students to read all questions first and use reading partners as often as possible.

· Allow gifted students to mentor students requiring assistance.

· Refer to Accommodations Chart if required.

Resources

Caetano, R., J. Schermerhorn, and A. Templer. Management For Productivity. Toronto, Ontario: John Wiley & Sons, 1995.

Popcorn, Faith and Lys Marigold. Clicking 17 Trends that Drive Your Business and Your Life. New York, NY: Harper Collins Publisher, 1998.

Rabbior, Gary. Money and Youth. Toronto, Ontario: Canadian Foundation For Economic Development, 1997.

Stewart, Margaret J., Diane Johns, David Notman, and Lynn L. Vos. Marketing A Global Perspective. Toronto, Ontario: John Wiley and Sons Canada Limited, 1991. p. 64.

Appendices

Appendix 1.2.1 – Needs and Wants

Appendix 1.2.2 – Maslow’s Needs

Appendix 1.5.8 – Informal Observation Rubric

Activity 3: Targeting the Market

Time: 225 minutes

Description

This activity involves a series of exercises that introduces students to the concept of markets in the Canadian context. An interpretation of population statistics reveals the interest that the market places on statistics. Students use their findings to connect the factors that affect business activity in their communities.

Strand(s) and Expectations

Ontario Catholic School Graduate Expectations

Students will:

· read, understand, and use written materials effectively (CGE 2b);

· write and speak fluently one or both of Canada’s official languages (CGE 2d);

· take initiative and demonstrate Christian leadership (CGE 4c);

· apply effective communication, decision-making, problem solving, time and resource management skills (CGE 4f);

· work effectively as an independent team member (CGE 5a);

· respect the rights, responsibilities, and contributions of selves and others (CGE 5e);

· achieve excellence, originality, and integrity in one’s own work and support these qualities in the work of others (CGE 5g).

Strand(s): Role and Impact of Business, Conducting Business in a Competitive and Changing Workplace

Overall Expectations

· analyse the major factors influencing the success of Canadian Business (CCV.01);

· demonstrate an understanding of how businesses respond to needs, wants, and demand (RBV.01).

Specific Expectations

· describe the concept of demand and the conditions that give rise to demand (RB1.01);

· explain how needs, wants, and demand create opportunities for business (RB1.02);

· compare the ways in which different companies address similar consumer needs and wants (RB1.03)v;

· identify various factors affecting business activity that have contributed to the success of Canadian companies and entrepreneurs (e.g., risk taking, vision, passion, perseverance, teamwork, market niche, ability to respond to change) (CC1.01).

Planning Notes

· Schedule 75 minutes in the computer lab for Internet research. If the lab is not available the Library/Resource Centre’s reference area can be substituted.

· Teachers may want to provide students with local demographic data.

Prior Knowledge Required

Students are familiar with the use of an Internet web browser and spreadsheet software.

Teaching/Learning Strategies

1. Briefly define the terms demography and demographics. Tell students that they are to do authentic demographic work. Have students log on to the Statistics Canada web site. Using Appendix 1.3.1 – Statistics Canada Exercise, students complete the handout using the information found on this site.

2. Ask students to identify and articulate a developing trend and anticipate the implications of this trend on the evolving market place (e.g., population bubble).

3. Prior to showing the video “Seniors” from The World of Business series (15 minutes) lead students through a Prediction/Confirmation exercise. Have students predict the content of the video. Record their responses on the board and ensure students copy the list into their notebooks. Watch video and have students check off their predictions and add any surprises. As an out of class assignment have students write a summary outlining their findings from the video.

4. The teacher discusses these common consumers in terms of target markets to illustrate to students that products and markets are developed according to the needs and wants of specific groups (e.g., Well Off Older Folks (WOOFS), Double Income No Kids (DINKS), One Income No Kids (OINKS), Not In My Backyard Syndrome (NIMBYS), Single Separated Widow Divorce (SSWD), people between the ages of 9 to 14 (TWEENS)).

5. Students examine their local community or neighbourhood and identify the different groups of people in it. Have students discuss and identify in small groups how well local businesses are serving the community.

Assessment/Evaluation Techniques

Diagnostic

Appendix 1.5.8 – Informal Observation Rubric

Verbal feedback

Formative

Quiz – teacher-developed

Appendix 1.3.1 – Statistics Canada Exercise

Summative

Summary of video

Accommodations

· The teacher may pair certain students at the computer to address individual special needs.

· Gifted students could be asked to mentor peers requiring extra assistance.

· Refer to Accommodations Chart if required.

Resources

Video

Wilson, Jack and David Notman. The World of Business Video Series. Scarborough, Ontario: ITP Nelson, 1997. 15 min.

Web Sites

Statistics Canada
www.statcan.ca

Appendices

Appendix 1.3.1 – Statistics Canada Exercise

Appendix 1.5.8 – Informal Observation Rubric

Activity 4: Market Places

Time: 300 minutes

Description

Students experience and interact with real-world and electronic market places. The role that competition plays in designing market places is highlighted.

Strand(s) and Expectations

Ontario Catholic School Graduate Expectations

Students will:

· read, understand, and use written materials effectively (CGE 2b);

· write and speak fluently one or both of Canada’s official languages (CGE 2d);

· take initiative and demonstrate Christian leadership (CGE 4c);

· apply effective communication, decision-making, problem solving, time and resource management skills (CGE 4f);

· work effectively as an independent team member (CGE 5a);

· respect the rights, responsibilities, and contributions of selves and others (CGE 5e);

· achieve excellence, originality, and integrity in one’s own work and support these qualities in the work of others (CGE 5g).

Strand(s): Conducting Business in a Competitive and Changing Workplace

Overall Expectations

· compare types of businesses (RBV.02)v;

· explain how businesses are affected by variation in market conditions and environments for conducting business (CCV.02)v;

· explain how current issues affect Canadian business (CCV.03)v.

Specific Expectations

· identify the types of businesses and business sectors that have experienced the greatest growth in recent years (RB2.02)v;

· compare levels of customer service and quality of goods and services among a variety of competing companies (CC1.02)v;

· explain how business can be affected by the number and quality of competitors in a market (CC2.02)v.

Planning Notes

· Arrange an out of class trip to a local shopping centre – refer to school board policy for Safety and Permissions Policy.

· Arrange for a representative from the mall management to meet with students.

· The teacher may need to tailor activity for field trip to local shopping centre.

· The teacher should advise students not to travel in large groups through the mall.

· Arrange for 75 minutes of computer lab time.

· The teacher should preview the virtual mall site www.NorstarMall.ca. Download any files that are necessary prior to students accessing the site.

Prior Knowledge Required

Students are familiar with the use of an Internet Web Browser.

Teaching/Learning Strategies

1. Co-ordinate a field trip to the shopping centre in the community. Arrange for a representative from the mall’s management to address students. This presentation should focus on Part A of the field trip worksheet. (See Appendix 1.4.1 – Traditional Mall Field Trip Exercise.)

2. Prior to arriving at the mall distribute and review with students the field trip assignment.

3. During initial conferencing with the mall representative students complete Part A of the exercise.

4. Before students set out to explore the mall and complete Part B-Part H of the worksheet, divide them into small groups of three or four.

5. As a class use DeBono’s PMI (Plus, Minus, and Interesting – see Resources) strategy to evaluate the field trip. Record students’ responses on the board and discuss.

6. Distribute and review virtual mall exercise before students log on to site (Appendix 1.4.2 – Virtual Mall Exercise).

7. Students compare and contrast their experiences at the traditional shopping mall with the virtual online mall by completing the handout (Appendix 1.4.3 – Virtual Mall vs. Traditional Mall). Discuss the responses. The teacher may wish to have students select a store in the community mall, compare it to its online version, and complete a similar chart.

8. Have students design a community mall with 15 to 20 stores. Explain to students that their store selection should reflect the needs of the community. Students should include a drawing/sketch of a proposed layout for their mall and write a short report justifying the reasons for their choices.

Assessment/Evaluation Techniques

Formative

Appendix 1.4.1 – Traditional Mall Field Trip Exercise

Appendix 1.4.2 – Virtual Mall Assignment

Appendix 1.5.8 - Informal Observation Rubric

Verbal feedback

Summative

Community mall assignment

Accommodations

· The teacher may pair certain students at the computer to address individual special needs.

· The teacher should move around the room and provide feedback to students.

· For students unable to visit the local mall, a telephone interview with mall management should be arranged.

· Refer to Accommodations Chart if required.

Resources

De Bono, Edward. Serious Creativity. New York, New York: Harper Business, 1992.

Web Sites

Virtual Mall
www.NorstarMall.ca

Appendices

Appendix 1.4.1 – Traditional Mall Field Trip Exercise

Appendix 1.4.2 – Virtual Mall Exercise

Appendix 1.4.3 – Virtual Mall vs. Traditional Mall

Appendix 1.5.8 – Informal Observation Rubric

Activity 5: Supply, Demand, and Price

Time: 450 minutes

Description

This activity is designed to introduce students to the concept of a market. Students develop an appreciation of the forces of demand and supply within the market and apply this knowledge to the determination of market equilibrium. Students explore specific ways in which the consumer can influence decisions of the seller in the market and how businesses can generate their own demand.

Strand(s) and Expectations

Ontario Catholic School Graduate Expectations

Students will:

· develop attitudes and values founded on Catholic social teaching and act to promote social responsibility, human solidarity, and the common good (CGE 1d);

· listen actively and critically to understand and learn in light of gospel values (CGE 2a);

· make decisions in light of gospel values with an informed moral conscience (CGE 3d);

· apply effective communication, decision-making, problem-solving, time and resource management skills (CGE 4f);

· achieve excellence, originality, and integrity in one’s own work and support these qualities in the work of others (CGE 5g).

Strand(s): Role and Impact of Business, Conducting Business in A Competitive and Changing Workplace, Personal Finance

Overall Expectations

· explain how businesses are affected by variation in market conditions and environments for conducting business (CCV.02).

Specific Expectations

· describe the concept of demand and the conditions that give rise to demand (RB1.01)v;

· analyse the forces of supply and demand and explain how they affect market prices and the willingness of businesses to produce products (CC2.01)v.

Planning Notes

· Teachers familiarize themselves with the use of graphs involving demand and supply lines as well as economic terminology. (See Appendix 1.5.6 – The Language of Economics.)

· Teachers provide chart paper and markers.

· Teachers may want to adjust the data provided on Appendix 1.5.3 – The Supplier’s Side of the Market to accurately reflect their school’s population.

· Teachers should preview solutions provided (Appendix 1.5.7 – A More Realistic Look At Demand Solution).

Prior Knowledge Required

No prior knowledge is required.

Teaching/Learning Strategies

1. The teacher introduces various types of markets (Monopoly/Oligopoly/Perfect Competition) through current examples. The control that participants in these markets exercise is highlighted.

2. A teacher-led discussion reveals that the school community is a market which brings together many buyers and sellers.

3. In pairs, students list on chart paper the concerns that their student population (demanders) might have while entertaining the thought of attending a school dance. The same pair is now asked to adopt the role of Student Council members. Their task involves listing on the chart paper all of the questions that they might have to consider in hosting (supplying) the dance.

4. Using the content of the posted lists, discuss the following topics:

· price as an obstacle for the consumer;

· price as a motivator for the consumer;

· price’s impact on the seller.

5. The same pairs create a hypothetical but realistic demand schedule for the dance that they intend to host. They accomplish this task by varying price (in fifty cent increments) and subsequently predicting the amount of tickets that the student population would “demand” as price changes.

6. Introduce the concept of quantity demanded (Qd) and plot a teacher-provided demand schedule. (See Appendix 1.5.1 – The Consumer Side of the Market.)

7. Highlight the inverse relationship between price and Qd. Have students plot their own hypothetical demand schedule for the dance. (See Appendix 1.5.1 – The Consumer Side of the Market.)

8. Students are provided with Appendix 1.5.2 – The Demand Recap Sheet to complete.

9. Provide students with hypothetical price and quantity supplied (Qs) data for the dance that they will be hosting. (See Appendix 1.5.3 – The Supplier’s Side of the Market.) In pairs, students develop a list of all of the factors that they would have to consider in the process of deciding at what point to set price.

10. The teacher discusses and summarizes these considerations and asks students to graph the supply schedule.

11. The direct relationship between price and Qs is highlighted. The students should be made aware that demand or supply lines alone cannot determine market equilibrium price – the price that keeps both buyers and sellers happy.

12. Provide students with Appendix 1.5.4 – The Market Equilibrium. Students first plot demand and supply lines individually and then plot both lines together on the axes provided.

13. Take up the handout and highlight the following concepts – market disequilibrium/surplus/shortage and equilibrium.

14. As a class, derive a listing of all of the non-price determinants of demand and explain how they can be both favourable and unfavourable in nature, (e.g. income levels, prices of related goods, expectations of future prices). (See Appendix 1.5.5 – A More Realistic Look At Demand.)

15. Graphically demonstrate a scenario involving both a favourable and unfavourable non-price determinant of demand and highlight its impact on the market equilibrium. (See Appendix 1.5.5 – A More Realistic Look At Demand.)

16. Create and provide students with a demand and supply review worksheet to complete as an in-class assignment.

17. The concept of “generating your own demand” is introduced to students. Students create a customer service wishlist that helps a business “generate its own demand”.

Assessment/Evaluation Techniques

Formative

Appendix 1.5.8 – Informal Observation Rubric

Verbal feedback

Summative

Test – teacher-developed

Accommodations

· Encourage students to read all questions first and use reading partners as often as possible.

· Allow gifted students to mentor students requiring assistance.

· Refer to Accommodations Chart if required.

Resources

Doherty, Dennis C. Making Economic Choices. Toronto, Ontario: Copp Clark Pitman, 1992.

James, E. Economics – A Problem Solving Approach. Toronto, Ontario: Prentice Hall, 1996.

Video

Business Concepts. “The Principles of Economics.” Toronto, Ontario: International Tele-Film (TVO), 1987.

Appendices

Appendix 1.5.1 – The Consumer Side of the Market

Appendix 1.5.1.a – Our Dance Demand Schedule

Appendix 1.5.2 – The Demand Recap Sheet

Appendix 1.5.3 – The Supplier’s Side of the Market

Appendix 1.5.4 – The Market Equilibrium Handout

Appendix 1.5.5 – A More Realistic Look At Demand

Appendix 1.5.6 – The Language of Economics

Appendix 1.5.7 – A More Realistic Look At Demand Solution

Appendix 1.5.8 – Informal Observation Rubric

Appendix 1.1.1

Word Cluster Example and Template

Appendix 1.1.2

Collage Rubric

Thinking/Inquiry and Problem Solving	Level 1	Level 2	Level 3	Level 4	Student Achievement
Excellence and Originality	- limited evidence of theme	- theme is evident	- theme is consistent and appropriate	- theme is consistently appropriate and unique
Communication	Level 1	Level 2	Level 3	Level 4	Student Achievement
Follows Oral Instructions	- limited awareness of instructions	- aware of instructions	- implements instructions	- awareness of instructions enhances student’s work
Visual Layout l · space is utilized appropriately · variety of media used	- several details are missing	- one detail is missing	- all assigned details have been addressed	- all assigned details have been addressed and additional details have been included
Application	Level 1	Level 2	Level 3	Level 4	Student Achievement
Physical Layout l · title present · fads or trends are visible	- several details are missing	- one detail is missing	- all assigned details have been addressed	- all assigned details have been addressed and additional details have been included
Most Consistent Level of Achievement:

Note: A student whose achievement is below level 1 (50%) has not met the expectations for this assignment or activity.

Appendix 1.1.3

From – To Exercise

Evolution of a Product

Name: Date:

From

What technology has driven this change in the Canadian workplace?

Example: telephone

Internet

Information technology

Appendix 1.1.4

Trends

Trends Which Cultivate The “New Consumer”

Cocooning	The strong desire to stay at home and protect ourselves from the outside world. Stay home and watch a video on the VCR instead of going out to a movie theatre.
Clanning	The inclination to belong to a group therefore giving a person the feeling of security and validating our beliefs.
Egonomics	Looking for ways to make personal statements. Plastic surgery - “I” want to look better
Being Alive	Growing awareness of good health and the concept of “wellness”. Health Food Stores, Fitness Gyms People want to enhance the quality not just the length of their lives.
Cashing Out	Working men and women who have questioned the value of their high paying career and opted to leave that life and return to a simpler lifestyle.
SOS (Save Our Society)	People that want to protect our planet and rediscover a social conscience of what is right and wrong.
Adults as Learners	People who want to return to school.

Appendix 1.1.4 (Continued)

How Buying Patterns Are Affected by Trends

Buying Patterns	How the consumer makes purchases.
Cocooning
Internet	With the widespread use of the Internet in our homes, cocooning and staying in a safe environment is easier to achieve. Comparison shopping can be done in the home-no need to leave and go to the local shopping centre.
Mail-order	By distributing products through a catalogue and mailing directly
Companies	to homes they offer a perfect fit with cocooning.
Fast Food Delivery	Stay at home and eat in.
Drive-up Windows	Stay in the car, get what you need and go home i.e., McDonalds, Tim Hortons, banks.
Clanning
Mega Bookstores	People can go to the bookstore and hang out. The store provides almost a homelike environment with couches and chairs. It is a place where people can come and be with others who enjoy reading.
Internet	Cyber conversations with people who have the same interests.
Egonomics	This trend has forced businesses to change their schedule. 9 - 5 operating hours do not work for all. 24 hours 7 days a week businesses are deemed a necessity. All-night diners and convenience stores are examples of businesses’ response to the “me” trend.
Being Alive	Homeopathic medicines - natural cures for our aches and pains Doctors are writing less prescriptions for pharmaceutical drugs. People are reading labels and buying products that are organic.
Cashing Out	People are moving away from the city but they still want the conveniences of the city. People are using their computers to get to work. They never leave the home, they commute electronically. Large home-office supply stores have facilitated the change.
S.O.S.	People are recycling, buying products that are re-useable. In business the photocopier toner and laser printer toner cartridges are returned and reused. Plastic bottles and cans for beverages are recycled. Cosmetic companies do not test on animals.

Appendix 1.1.5

Suppliers

Group Members:

Date:

Instructions:

Beside each business in column one list the supplier businesses each relies on to run their business.

Business	Suppliers
The Ford Motor Company
The Hudson’s Bay Company
The Hair Cutting Place

Appendix 1.2.1

Needs and Wants

Group Members:

Work Required	Needs	Wants
Personal Definition
Four Examples	· · · ·	· · · ·
Shared Definition
Establishing Categories

Needs Category Ranking Table
Need Category Title	Ranking (1 being the Most Important)

Wants Category Ranking Table
Want Category Title	Ranking (1 being the Most Important)

In an attempt to satisfy our needs and wants we anticipate requiring the following resources:

Appendix 1.2.2

Maslow’s Needs

Who in the World is Maslow?

A Random Listing of Maslow’s Needs Levels

SOCIAL

ESTEEM

PHYSIOLOGICAL

PSYCHOLOGICAL

COMMUNITY

SELF-ACTUALIZATION

What is a Hierarchy?

Our Hierarchy of Needs

______________________

_________________________

__________________________

________________________

____________________

Appendix 1.3.1

Statistics Canada Exercise

Name: Date:

Instructions

1. Log on to Statistics Canada web site – www.statcan.ca.

2. From the statcan.ca site make the following selections: English, Canadian Statistics, The People – Population and finally Population by sex and age, estimates for 1996 and projections for 2001, 2006, 2011, 2016.

3. Using the Population projections for 1996, 2001, 2006, 2011, and 2016 complete the chart below.

	1996	2001	2006	2011	2016
What is the total population projected for both males and females aged 18 to 24 years?
What is the total population projected for both males and females aged 25 to 39 years?
What is the total population projected for both males and females aged 40 to 64 years?
What is the total population projected for both males and females aged 65+?

4. Using a spreadsheet program, input your data from the chart onto a spreadsheet worksheet. Create a bar graph to illustrate the population totals for each age category. The x-axis shows the years (1996, 2001…2016) and the y-axis indicates population in thousands.

5. Print the graph for each age category.

Appendix 1.4.1

Traditional Mall Field Trip Exercise

Part A: General Information

Name of Shopping Centre:

Property Managers:

How many stores and shops in total? ___________ How many parking spaces? ___________

Are there any store vacancies? o Yes o No

If yes, how many? o 1 o 2-3 o 4-5 o >5

Does the mall have carriages/wagons available for parents? o Yes o No

Does the mall have wheelchairs available? o Yes o No

Hours of Operation:

Day of the Week	Time
Monday
Tuesday
Wednesday
Thursday
Friday
Saturday
Sunday

Does the mall have extended shopping hours during the Christmas season?

o Yes o No

Does the mall have extended shopping hours during any other time?

o Yes o No

Is the mall open on holidays?

o Yes o No

If yes, please indicate which days.

o Christmas Day o New Years Day o Labor Day o Thanksgiving

o Remembrance Day o Canada Day o Other (please specify) __________

Security - Who is responsible for...

Public areas of mall including restrooms

Parking lot

Locking stores

Mall Maintenance - Who is responsible for...

Watering flowers

General maintenance - floors in corridors, restroom facilities

Appendix 1.4.1 (Continued)

Traditional Mall Field Trip Exercise

What special events does the centre host...

Sidewalk Sales o Yes o No

How many times a year? o one o two o three or more

Community Events

Blood Donor Clinic o Yes o No

How many times a year? o one o two o three or more

Craft Shows o Yes o No

How many times a year? o one o two o three or more

Antique Show o Yes o No

How many times a year? o one o two o three or more

Other (please specify) o Yes o No

How many times a year? o one o two o three or more

Seasonal Related

Santa Claus o Yes o No

Easter Bunny o Yes o No

Hallowe’en o Yes o No

St. Valentine’s Day o Yes o No

St. Patrick’s Day o Yes o No

Other (please specify) o Yes o No

Before completing Part B - Part F you should explore the mall

Part B: Department Stores

What department stores are in the mall?

o The Bay o Sears o Wal-Mart

o Zellers o Other (please specify) _____________

Appendix 1.4.1 (Continued)

Traditional Mall Field Trip Exercise

Part C: Service

Identify stores in the mall that provide a service to their customers.

Store Name	Service
Example: Long Life Fitness	Fitness gym

Part D: Retail Stores

Identify the stores in the centre that sell goods to their customers.

Store Name	Type of Store	Target Market(who shops at the store)

Appendix 1.4.1 (Continued)

Traditional Mall Field Trip Exercise

Part E: Food Court/Food Fair

Identify the types of food vendors available.

o Fast food chains (e.g., Harveys, McDonalds) o Coffee and Donuts

o Health food o Candy

o Other (please specify)

Part F: Floor Plan

Sketch the layout of the centre.

Appendix 1.4.2

Virtual Mall Exercise

Student’s Name:

Instructions:

1. Log on to www.NorstarMall.ca

2. Select Canadian shopping.

3. Take the 3-D tour.

4. Spend five to ten minutes browsing the site.

5. Complete this worksheet.

Part A: General Information

Name of Shopping Centre:

Who designed the site?

How many stores and shops in total?

Are there any vacant stores? o Yes o No

If yes, how many? o 1 o 2-3 o 4-5 o >5

Complete the tenancy options chart by referring to New Tenants Information section of the site.

Option 1

Option 2

Option 3

Details:

Shopping Hours

Explain how shopping online has redefined traditional shopping hours.

Appendix 1.4.2 (Continued)

Virtual Mall Exercise

Security - Who is responsible?

How does NorstarMall.ca ensure confidentiality to its customers?

How are customers protected when making purchases from mall merchants?

Mall Maintenance - Who is responsible?

Updating the site

Contact Information

How can you contact NorstarMall.ca? List all options.

Mailing Address

E-mail

Telephone

Appendix 1.4.2 (Continued)

Virtual Mall Exercise

Part B: Stores

Identify the merchants of NorstarMall.ca.

Store Name	Market	In Community Mall?
		o Yes o No
		o Yes o No
		o Yes o No
		o Yes o No
		o Yes o No
		o Yes o No
		o Yes o No
		o Yes o No
		o Yes o No
		o Yes o No

Part C: Demographic

Who are the shoppers?

Apply what you have learned about market places and describe the type of shopper who would likely be browsing in this virtual mall.

What types of consumers would be best served in a virtual mall?

Part D: Making Contact

Send an e-mail to NorstarMall.ca requesting a job application.

Send an e-mail to NorstarMall.ca outlining your impressions of the site.

Appendix 1.4.2 (Continued)

Virtual Mall Exercise

Part E: Floor Plan

Sketch the layout of the virtual mall.

Appendix 1.4.3

Virtual Mall vs. Traditional Mall

Instructions:

Compare and contrast your experience at the traditional shopping centre with the virtual mall by completing the chart. You are not limited to the amount of symbols given, please add if necessary.

Appendix 1.5.1

The Consumer Side Of The Market

Quantity Demanded:

(Qd)

The Demand Schedule:

Graphing a Hypothetical Demand Schedule for Product A

Price	Quantity Demanded (Qd)
.30	60
.40	50
.50	40
.60	30
.70	20

The inverse relationship between price and Qd:

Appendix 1.5.1a

Our Dance Demand Schedule

Price	Quantity Demanded (Qd)

Appendix 1.5.2

The Demand Recap Sheet

1. The demand schedule for a product highlights a direct relationship between price and

quantity demanded. True or false? Why?

2. What is the only variable (item that changes) when we move along a demand line?

3. Graph the following hypothetical demand schedule on the axes provided below:

Price	Quantity Demanded (Qd)
.50	95
.60	85
.70	75
.80	65
.90	55
1.00	45

Appendix 1.5.3

The Supplier’s Side Of The Market

Quantity Supplied:

(Qs)

The Supply Schedule:

A Proposed Supply Schedule for Your Dance

Price	Quantity Supplied (Qs)
3.50	100
4.00	150
4.50	200
5.00	250
5.50	300
6.00	350
6.50	400

The direct relationship between price and Qs:

Appendix 1.5.4

The Market Equilibrium

Use the date below to complete all graphs.

Price	Quantity Demanded	Quantity Supplied
.30	110	15
.40	90	25
.50	70	35
.60	50	50
.70	30	70
.80	10	85

Graph the Demand Schedule

Graph the Supply Schedule

Appendix 1.5.4

The Market Equilibrium Continued

Graph the Demand and Supply Schedules on the same axes

Conclusions

Market:

Disequilibrium:

Where does disequilibrium occur?

At a price of .40 note how a ___________________ exists in the market.

A _____________ exists because _______________________________________________

At a price of .80 note how a ___________________ exists in the market.

A _____________ exists because _______________________________________________

Market Equilibrium:

Appendix 1.5.5

A More Realistic Look at Demand

Non-price Determinants: Things other than price that affect the demand for a product

Non-price Determinant	Original Demand Schedule		Favourable Impact	New Demand Schedule in light of favourable change		Unfavourable Impact	New Demand Schedule in light of unfavourable change
Income	P .30	Qd 70		P .30	Qd 80		P .30	Qd 60
Price of a substitute in consumption	.40	60		.40	70		.40	50
Price of a complement in consumption	.50	50		.50	60		.50	40
Tastes	.60	40		.60	50		.60	30

Appendix 1.5.5

A More Realistic Look at Demand Continued

Graphing our Three Different Demand Schedules

The Impact of a Change in Demand on Market Equilibrium

Case A –

The average income of every Canadian rises by 30 %.

Case B –

A consumer report clearly shows that the use of facial cream causes severe skin rashes.

Graphically demonstrate the impact of the above event on the market for clothes.

Graphically demonstrate the impact of the above event on the market for facial cream.

Appendix 1.5.5

A More Realistic Look at Demand Continued

Conclusions

CASE A	CASE B

As the demand line shifts to the	As the demand line shifts to the

_________________ note how	__________________ note how

market equilibrium price	market equilibrium price

_________________ and market	_________________ and market

equilibrium quantity ______________.	equilibrium quantity ____________.

Appendix 1.5.6

The Language of Economics

Monopoly – A single seller that controls the supply of a particular product within a market.

Oligopoly – A few sellers that control the supply of a particular product within a market.

Perfect Competition – The situation that exists when many sellers compete in supplying a particular product within a market.

Demand – The price that consumers are willing to pay for a particular product.

Quantity Demanded (Qd) – The variable that represents the amount consumers are willing and able to buy as price changes.

Supply – The amount of a product that sellers are willing to sell.

Quantity Supplied (Qs) – The variable that represents the amount sellers are willing and able to supply as price changes.

Equilibrium – The price in the market that allows the buying decisions of consumers to exactly coincide with the selling decisions of sellers (Qd = Qs).

Disequilibrium – A price in the market where the buyer’s intentions are not consistent with those of the seller.

Surplus – This results at a price above equilibrium where Qs > Qd. The price pleases sellers but discourages buyers.

Shortage – This results at a price below equilibrium where Qd > Qs. The price pleases consumers but discourages the seller.

Non-price Determinant – a factor – other than price – that impacts a consumer’s willingness and ability to buy (demand) a particular product.

Substitute in Consumption – A product that can be consumed as a ready substitute for another product.

Complement in Consumption – A product that is consumed in conjunction with another product.

Appendix 1.5.7

A More Realistic Look At Demand Solution

Non-price Determinants: Things other than price that affect the demand for a product.

· Income

· Price of a substitute in consumption

· Price of a complement in consumption

· Tastes

Non-price Determinant	Original Demand Schedule		Favourable Impact	New Demand Schedule in light of favourable change		Unfavourable Impact	New Demand Schedule in light of unfavourable change
Income	P .30	Qd 70	Income levels rise	P .30	Qd 80	Income levels fall	P .30	Qd 60
Price of a substitute in consumption	.40	60	The price of a substitute rises	.40	70	The price of a substitute falls	.40	50
Price of a complement in consumption	.50	50	The price of a complement falls	.50	60	The price of a complement rises	.50	40
Tastes	.60	40	There is a successful ad campaign	.60	50	There is poor consumer feedback	.60	30

Appendix 1.5.7 (Continued)

A More Realistic Look At Demand Solution

Graphing our Three Different Demand Schedules

Price

Quantity Demanded

The Impact of a Change in Demand on Market Equilibrium

Case A –	The average income of every Canadian rises by 30 %.	Case B –	A consumer report clearly shows that the use of facial cream causes severe skin rashes.
Graphically demonstrate the impact of the above event on the market for clothes.		Graphically demonstrate the impact of the above event on the market for facial cream.

Appendix 1.5.7 (Continued)

A More Realistic Look At Demand Solution

Conclusions

CASE A	CASE B

As the demand line shifts to the	As the demand line shifts to the

RIGHT note how	LEFT note how

market equilibrium price	market equilibrium price

INCREASES and market	DECREASES and market

equilibrium quantity INCREASES.	equilibrium quantity DECREASES.

Appendix 1.5.8

Informal Observation Rubric

Criteria	Level 1	Level 2	Level 3	Level 4
Knowledge & Understanding	- demonstrates limited knowledge of key economic concepts	- demonstrates some knowledge of key economic concepts	- demonstrates considerable knowledge of key economic concepts	- demonstrates excellent command of key economic concepts
Communication	- completes graphs with limited detail	- completes graphs with some detail	- demonstrates a working knowledge of graphing skills	- demonstrates an effective use of graphing skills
Applications/ Making Connections	- rarely uses prior knowledge to complete assignments	- sometimes uses prior knowledge to complete assignments	- uses prior knowledge to complete assignments	- uses prior knowledge proficiently to complete assignments
Thinking/Inquiry	- rarely uses problem-solving skills	- sometimes needs prompting to use problem-solving skills	- routinely uses problem-solving skills	- demonstrates exceptional problem-solving skills

Note: A student whose achievement is below level 1 (50%) has not met the expectations for this assignment or activity.