Day 2

When you are finished with Lesson 1-1, you will be able to:

• Explain the difference between needs and wants.
• Distinguish between goods and services.
• Describe the types of economic resources.

Assignment 1.1.1

1. Log into your Google Drive account.
2. Navigate to My Drive.
3. Create a new folder titled Intro to Business.
4. Inside of this new folder, create a new folder titled Unit 1.
5. Inside of the Unit 1 folder, create a new folder titled Chapter 1.  Everything you create in Chapter 1 will be stored in this folder.

Assignment 1.1.2

1. Make a copy of this Lesson 1-1 Study Guide.
2. Read Lesson 1-1 on pages 6-11.
3. As you read, complete the study guide.

Assignment 1.1.3

1. After completing Assignment 1.1.2, complete this Lesson 1-1 Self-Assessment. You are free to take it multiple times. Your best grade will be recorded.

Assignment 1.1.4

1. Read the FYI on the top of page 9.
2. Research a current issue related to the reduced supply of natural resources such as rain forest destruction, ozone layer depletion, pollution, or increased worldwide oil consumption.  
3. Create a new Google Document in your Lesson 1 folder titled Reduced Natural Resources-(your initials).  In this document, write a one to two paragraph response recording your findings that includes causes, long-term economic consequences, and possible solutions.
4. Create a new Google Document titled Economic Resources-(Your Initials) and move it into your Chapter 1 folder.
5. In your document, list the three types of economic resources.  Choose three different products and describe how each type of economic resource is needed and used in its production.