• Text: Chapters 1;
• Business Survey;
• Maslow's Hierarchy of Needs;
• Class notes re. business, goods, services, luxuries and essentials;
• Needs Vs Wants - Assessment Sheet;
• Decision-Making Process.
• Anatomy of a Computer

To successfully complete the upcoming quiz, the student must be able to perform the following cognitive tasks:

Concepts associated with chapter #1:

• Describe what is meant by the term "business."

• Differentiate between "needs" and "wants."

• Differentiate between "essentials" and "luxuries."

• Outline and explain Maslow's hierarchy of needs.

• Differentiate between "producers" and "consumers."

• Define the terms:
  • information,
  • technology, and
  • information technology.

• explain the function of the following internal components of a personal computer:
  • the mother board,
  • the system bus,
  • the central processing unit,
  • the hard drive,
  • the RAM and ROM,
  • the expansion slots, and
  • the power supply.

• Define and explain the term obsolete.

• Know and understand the concepts of demand, supply, and price.

• Know and understand the concepts of profit, and breaking even.