ECON 2028Homework 6Dr. Grammy1. List and describe .docx

ECON 2028
Homework 6
Dr. Grammy
1. List and describe three functions of money.
- barter the direct exchange of goods and service for other
goods and service.
- medium of exchange, or means of payment what sellers
generally accept and buyers generally use to pay for goods and
services.
- store of value an asset that can be used to transport purchasing
power from one time period to another.
2. Kirk Deposits $3,000 in dollar bills in his checking account
at Bank A. Find the change in
a. M1 =
b. M2 =
3. Mary deposits $1,500 in dollar bills in her saving account at
Bank B. Find the change in
c. M1 = 0
d. M2 = 1,500
4. Use the following data to calculate M1 and M2.
Money market accounts = 190
Credit card balances = 800
Stock market holdings = 1,000
Checking account deposits = 950
Coins and bills held outside banks = 560
Money market mutual funds = 450
United States saving bonds = 700
Travelers’ checks = 150
Other checking account deposits = 380

Saving account deposits = 900
Treasury notes = 650
United States oil reserves= 900
United States gold reserves = 870
a. M1 =
b. M2 =
5. Mr. Smith deposits $2,400 in her checking account at Bank
C. Given a required reserve ratio of 3%, find the bank’s
a. RR =
b. ER =
c. The maximum amount of new loans by Bank C =
6. First Union Bank has $8,000,000 in reserves and $15,000,000
in checking deposits. With a required reserve ratio of 5%,
calculate
a. RR =
b. ER =
c. The maximum amount of loans First Union Bank =
d. Money Multiplier =
e. The maximum amount by loans by all banks =
Instructions
Show your calculations and give detailed answers to earn full
credit. Type your answers in MS Word. Name your answer file
Homewrok-6. Attach your file to an E-mail message within
Blackboard by 11:00 P.M. Wednesday, March 29, 2017. Late
homework assignments and homework assignments not written
in Word or not received in Blackboard will not be graded.
Submit your homework to:
Elizabeth Fernandez (Grader)
Breanna Young (Grader)
Note:
This is an individual assignment; it is not a team/group
assignment.
See me or an ECON tutor if you need assistance.

Course Syllabus
Course Description
Presents the fundamentals of business principles and practices.
Business strategies emphasized are decision-making and
planning, teamwork, technology, and communication. Topics
include analysis of the business environment, starting a new
business, managing business and employees, marketing,
accounting, and finance.
Course Textbook(s)
No physical textbook is required; resources are integrated
within the course.
Course Learning Outcomes
Upon completion of this course, students should be able to:
1. Identify basic business concepts.
2. Examine the different environments in which businesses
operate, to include social, technological, economic, legal,
and market.
3. Explain management functions of planning, organizing,
leading, and controlling.
4. Identify the basic principles of marketing.
5. Determine the function and role of human resources,
including key aspects of human resource management.
6. Discuss the importance of ethics and social responsibility in
business.
7. Evaluate concepts associated with entrepreneurship.
8. Explain how outsourcing, offshoring, and foreign entities
affect the operation of businesses in the United States.

Credits
Upon completion of this course, the students will earn 3 hours
of college credit.
Course Structure
1. Study Guide: Course units contain a Study Guide that provide
students with the learning outcomes, unit lesson,
required reading assignments, and supplemental resources.
2. Learning Outcomes: Each unit contains Learning Outcomes
that specify the measurable skills and knowledge
students should gain upon completion of the unit.
3. Unit Lesson: Unit Lessons, which are located in the Study
Guide, discuss lesson material.
4. Reading Assignments: Units contain Reading Assignments
from one or more chapters from the textbook and/or
outside resources.
5. Suggested Reading: Suggested Readings are listed within the
Study Guide. Students are encouraged to read the
resources listed if the opportunity arises, but they will not be
tested on their knowledge of the Suggested Readings.
6. Discussion Boards: Discussion Boards are part of all CSU
Term courses. More information and specifications can
be found in the Student Resources link listed in the Course
Menu bar.
7. Unit Quizzes: This course contains Unit Quizzes. It is
suggested that the quizzes be completed before students
complete the Unit Assessments. Quizzes are used to give
students quick feedback on their understanding of the unit

material.
8. Unit Assessments: This course contains Unit Assessments,
which test student knowledge on important aspects of
the course. These tests may come in many different forms,
ranging from multiple choice to written response
questions.
9. Unit Assignments: Students are required to submit for
grading Unit Assignments. Specific information and
instructions regarding these assignments are provided below.
Grading rubrics are included with each assignment.
Specific information about accessing these rubrics is provided
below.
10. Ask the Professor: This communication forum provides you
with an opportunity to ask your professor general or
BBA 2010, Introduction to
Business
BBA 2010, Introduction to Business 1
course content related questions.
11. Student Break Room: This communication forum allows for
casual conversation with your classmates.
CSU Online Library
The CSU Online Library is available to support your courses
and programs. The online library includes databases, journals,
e-books, and research guides. These resources are always
accessible and can be reached through the library webpage.
To access the library, log into the myCSU Student Portal, and

click on “CSU Online Library.” You can also access the CSU
Online Library from the “My Library” button on the course
menu for each course in Blackboard.
The CSU Online Library offers several reference services. E-
mail ([email protected]) and telephone
(1.877.268.8046) assistance is available Monday – Thursday
from 8 am to 5 pm and Friday from 8 am to 3 pm. The library’s
chat reference service, Ask a Librarian, is available 24/7; look
for the chat box on the online library page.
Librarians can help you develop your research plan or assist you
in finding relevant, appropriate, and timely information.
Reference requests can include customized keyword search
strategies, links to articles, database help, and other services.
LibGuides
Think of a LibGuide (a Library Guide) as a mini-website to help
you with your assignments. It has relevant information such
as databases, e-books, and websites specific to your courses. If
you have any questions, please reach out to your friendly
library staff.
Click here for the LibGuide for this course.
Unit Assignments
Unit I Scholarly Activity
The purpose of this assignment is to describe the goals and
responsibilities for each of the core components of business.
You will list the typical job titles and a cost associated with
each component.
Click here to access the template for this assignment. Save all

of your work to the template, and submit it in Blackboard for
grading.
Information about accessing the grading rubric for this
assignment is provided below.
Unit II Assignment
The purpose of this assignment is to examine the different
environments in which businesses operate. Include social,
technological, economic, legal, and market environments when
you complete the three exercises.
of your work to the template before submitting it in
Blackboard for grading.
Unit IV Web Assignment
The purpose of this assignment is for you to identify the basic
principles of marketing. You will describe a target market,
market segment, and a message, and explain how marketing
research contributes to reaching a specific audience.
of your work to the template, and submit it in Blackboard for
grading.
Unit V PowerPoint Presentation

Human resource management plays an important role in any
successful business. This assignment focuses on the key
functions of human resource management. Your presentation
must include a description of each key function in your own
words. Your presentation should be a minimum of 10 slides.
A template has been provided to get you started. Your task is to
complete this presentation by inserting the remaining
elements. As you navigate from one slide to the next, be sure to
read the instructions carefully. Once you finish, save all of
your work to the template, and submit it in Blackboard for
grading.
Click here to access the Unit V PowerPoint presentation
template.
mailto:[email protected]
http://libguides.columbiasouthern.edu/undergradbusiness
https://online.columbiasouthern.edu/CSU_Content/Courses/Busi
ness/BBA/BBA2010/16I/UnitI_assignment_template.doc
ness/BBA/BBA2010/16I/UnitII_assignment_template.doc
ness/BBA/BBA2010/16I/UnitIV_assignment_template.doc
ness/BBA/BBA2010/16I/UnitV_presentation_template.pptx
Unit VI Case Study
For this assignment, you will evaluate the concepts associated

with entrepreneurship. First, locate the video below in the
Films on Demand database in the CSU Online Library.
ABC News. (2013). Building a food truck business from the
ground up [Video file]. In Films On Demand. Retrieved from
https://libraryresources.columbiasouthern.edu/login?auth=CAS
&url=http://fod.infobase.com/PortalPlaylists.aspx?
wID=273866&xtid=54907
Click here to view the video transcript.
Next, answer the following questions.
1. What value does this business bring to the communities it
serves?
2. What are the advantages of the food truck business?
3. What are the risks involved in this business?
4. What characteristics of the owners help to make this business
a success?
5. What type of entrepreneurship is displayed in the video?
Explain.
6. Why is additional support critical for the success of the food
truck business?
7. What suggestions would you recommend for this business?
Your case study must be a minimum of two pages in length.
Unit VII Essay
Corporate social responsibility is an emerging trend for
businesses in today’s environment. Regardless of the nature of
the
industry, corporations are held to higher ethical standards. This

assignment will give you a chance to think as an executive
and take into consideration the importance of ethics and social
responsibility.
You are tasked with choosing a corporation and discussing the
importance of ethics and social responsibility in relation to
that particular corporation. Think about the stakeholders
associated with the corporation and how they benefit if the
organization displays social responsibility. Start with a brief
introduction of the organization, and remember to think from
the
perspective of the leader of the organization.
Your submission must be a minimum of two pages in length. Be
sure to cite any sources using APA format.
Unit VIII Article Review
For this assignment, you will locate an article in the CSU
Online Library that relates to organizational behavior, and write
a
review of the article. Your article review must be a minimum of
two pages in length. Be sure to address each of the following
points in your article review.
Identify the premise of the article and supporting points.
How does the author describe organizational behavior?
Why is organizational behavior important?
Which business concepts covered in this course were you able
to identify?
You are required to use at least one scholarly source. All in-text
citations and references must be formatted according to

APA guidelines.
The Business Source Complete, Academic Search Complete,
ABI/INFORM Collection, and Academic OneFile databases
should be helpful for this assignment.
Click here to view a tutorial that shares a few tips on finding
articles in the databases.
APA Guidelines
The application of the APA writing style shall be practical,
functional, and appropriate to each academic level, with the
primary purpose being the documentation (citation) of sources.
CSU requires that students use APA style for certain papers
and projects. Students should always carefully read and follow
assignment directions and review the associated grading
rubric when available. Students can find CSU’s Citation Guide
by clicking here. This document includes examples and
sample papers and provides information on how to contact the
CSU Success Center.
Grading Rubrics
This course utilizes analytic grading rubrics as tools for your
professor in assigning grades for all learning activities. Each
rubric serves as a guide that communicates the expectations of
the learning activity and describes the criteria for each level
https://libraryresources.columbiasouthern.edu/login?auth=CAS
&url=http://fod.infobase.com/PortalPlaylists.aspx?wID=273866

&xtid=54907
ness/BBA/BBA2010/16I/UnitVI_video_transcript.docx
http://libguides.columbiasouthern.edu/findjournalarticlesvideo
http://www.columbiasouthern.edu/downloads/pdf/success/citatio
n-guide
of achievement. In addition, a rubric is a reference tool that
lists evaluation criteria and can help you organize your efforts
to
meet the requirements of that learning activity. It is imperative
for you to familiarize yourself with these rubrics because
these are the primary tools your professor uses for assessing
learning activities.
Rubric categories include: (1) Discussion Board, (2) Assessment
(Written Response), and (3) Assignment. However, it is
possible that not all of the listed rubric types will be used in a
single course (e.g., some courses may not have
Assessments).
The Discussion Board rubric can be found within Unit I’s
Discussion Board submission instructions.
The Assessment (Written Response) rubric can be found
embedded in a link within the directions for each Unit
Assessment. However, these rubrics will only be used when
written-response questions appear within the Assessment.
Each Assignment type (e.g., article critique, case study,
research paper) will have its own rubric. The Assignment
rubrics
are built into Blackboard, allowing students to review them
prior to beginning the Assignment and again once the
Assignment has been scored. This rubric can be accessed via the

Assignment link located within the unit where it is to be
submitted. Students may also access the rubric through the
course menu by selecting “Tools” and then “My Grades.”
Again, it is vitally important for you to become familiar with
these rubrics because their application to your
Discussion Boards, Assessments, and Assignments is the
method by which your instructor assigns all grades.
Communication Forums
These are non-graded discussion forums that allow you to
communicate with your professor and other students.
Participation in these discussion forums is encouraged, but not
required. You can access these forums with the buttons in
the Course Menu.
Ask the Professor
This communication forum provides you with an opportunity to
ask your professor general or course content questions.
Questions may focus on Blackboard locations of online course
components, textbook or course content elaboration,
additional guidance on assessment requirements, or general
advice from other students.
Questions that are specific in nature, such as inquiries regarding
assessment/assignment grades or personal
accommodation requests, are NOT to be posted on this forum. If
you have questions, comments, or concerns of a non-
public nature, please feel free to e-mail your professor.
Responses to your post will be addressed or e-mailed by the
professor within 48 hours.
Before posting, please ensure that you have read all relevant
course documentation, including the syllabus,

assessment/assignment instructions, faculty feedback, and other
important information.
Student Break Room
This communication forum allows for casual conversation with
your classmates. Communication on this forum should
always maintain a standard of appropriateness and respect for
your fellow classmates. This forum should NOT be used to
share assessment answers.
Schedule/Grading
The following pages contain a printable Course Schedule to
assist you through this course. By following this schedule, you
will be assured that you will complete the course within the
time allotted.
Unit I The Core Components of a Business [ Weight: 10% ]
Read/View: Unit I Study Guide
Reading Assignments (4 articles, 3 presentations): See Study
Guide
Discuss: Unit I Discussion Board 2%
Submit: Unit I Quiz
Unit I Scholarly Activity
2%
6%

Unit II Various Environments of Business [ Weight: 13% ]
Read/View: Unit II Study Guide
Guide
Discuss: Unit II Discussion Board 2%
Submit: Unit II Assignment 11%
Unit III Functions of Management in Business [ Weight: 12% ]
Read/View: Unit III Study Guide
Guide
Discuss: Unit III Discussion Board 2%
Submit: Unit III Assessment 10%
Unit IV Principles of Marketing [ Weight: 13% ]
Read/View: Unit IV Study Guide
Guide
Discuss: Unit IV Discussion Board 2%
Submit: Unit IV Web Assignment 11%
Unit V Human Resource Management [ Weight: 13% ]
Read/View: Unit V Study Guide
Guide

Discuss: Unit V Discussion Board 2%
Submit: Unit V PowerPoint Presentation 11%
Unit VI Entrepreneurship and Small Businesses [ Weight: 13% ]
Read/View: Unit VI Study Guide
Guide
Discuss: Unit VI Discussion Board 2%
Submit: Unit VI Case Study 11%
Unit VII Ethics and Corporate Social Responsibility [ Weight:
13% ]
Read/View: Unit VII Study Guide
Reading Assignments (4 articles, 1 presentation): See Study
Guide
Discuss: Unit VII Discussion Board 2%
Submit: Unit VII Essay 11%
Unit VIII Organizational Behavior [ Weight: 13% ]
Read/View: Unit VIII Study Guide
Reading Assignments (4 articles, 1 presentation): See Study
Guide
Discuss: Unit VIII Discussion Board 2%

Submit: Unit VIII Article Review 11%
BBA 2010, Introduction to BusinessCourse SyllabusCourse
DescriptionCourse Textbook(s)Course Learning
OutcomesCreditsCourse StructureCSU Online
LibraryLibGuidesUnit AssignmentsUnit I Scholarly
ActivityUnit II AssignmentUnit IV Web AssignmentUnit V
PowerPoint PresentationUnit VI Case StudyUnit VII EssayUnit
VIII Article ReviewAPA GuidelinesGrading
RubricsCommunication ForumsSchedule/Grading
Course Learning Outcomes for Unit I
Upon completion of this unit, students should be able to:
1. Identify basic business concepts.
1.1 Identify the core components of business.
1.2 Describe the major goal and responsibilities for each of the
core components of business.
1.3 List typical job titles and a cost associated with each of the
core components of business.
Reading Assignment
In order to access the following resource(s), click the link(s)
below:

Jance, M. (2014). The hot dog stand: A business 101 capstone
project. Academy of Business Research
Journal, 4, 20-23. Retrieved from
https://libraryresources.columbiasouthern.edu/login?url=http://s
earch.ebscohost.com/login.aspx?direc
t=true&db=bth&AN=100447486&site=ehost-live&scope=site
Karlgaard, R. (2012). The hard and soft stuff of business:
Winners excel in both. Forbes, 50. Retrieved from
Van Meir, C. (2016). Branding benefits: Apply the four Ps of
marketing to make benefits more engaging.
Benefits Magazine, 53(3), 34-39. Retrieved from
In order to access the following resource(s), click the link(s)
below:
Guerras-Martin, L. A., Madhok, A., & Montoro-Sánchez, A.
(2014). The evolution of strategic management
research: Recent trends and current directions. Business
Research Quarterly, 17(2), 69-76. Retrieved
from

t=true&db=a9h&AN=98614050&site=ehost-live&scope=site
Click here to access an interactive tutorial about the marketing
process.
Click here to access an interactive tutorial about managing the
business enterprise.
Click here to access an interactive tutorial about the importance
of accounting.
Unit Lesson
Introduction
Prior to beginning to understand the basic concepts of business,
one must be able to understand exactly what
a business is. According to Kelly, McGowen, and Williams
(2014), a business is any type of firm or
organization that provides goods and/or services to others in an
attempt to generate a profit. While this
definition may make it sound easy, running a business requires
a great deal of behind-the-scenes
components. These components of business will be the topic of
this unit and are described throughout the
remainder of this lesson.
UNIT I STUDY GUIDE
The Core Components

of a Business
earch.ebscohost.com/login.aspx?direct=true&db=bth&AN=1004
47486&site=ehost-live&scope=site
earch.ebscohost.com/login.aspx?direct=true&db=a9h&AN=9861
earch.ebscohost.com/login.aspx?direct=true&db=a9h&AN=9861
http://www.pearsoncustom.com/mct-
enterprise/asset.php?isbn=1256689785&id=12063

UNIT x STUDY GUIDE
Title
In no certain order, the basic components of business are
strategic management, finance and accounting,
human resource management, marketing, sales, and operations
management. While most large businesses
have separate departments and sections that perform the
aforementioned functions and many small
businesses may have only one person or a few people
performing all of these functions, the fact remains that
ALL businesses perform these functions at some level in order
to operate effectively. Let us begin our
discussion of the basic business components by examining
strategic management.
Strategic Management
Strategic management can be described as both an art and a
science that deals with the formulation,
implementation, and evaluation of cross-functional decisions
and actions that allow a business to reach its
goals and objectives (David, 2011). This means that strategic
management is the area of the business that
concentrates on making sure that all other functions of the
business—to include management, marketing,
finance and accounting, production and operations, research and
development, and information systems—
are working together as one large body so that an organization
can reach its goals and objectives.
Sometimes, it is best to think of strategic management in

business as the coach of a football team. A
successful football team is comprised of many individuals, all
of whom possess certain specialties (e.g.,
kicking, blocking, rushing, and passing). Separately, they are
good at their positions and specialties, but they
could not win games by working alone. A good coach (i.e.,
strategic manager) knows how to put all of the
individual specialties together, all working in harmony, to
achieve the team goal of winning a game. Now, let
us examine the next component of business, which is finance
and accounting.
Finance and Accounting
One of the main goals of a business is to make a profit. Before a
profit actually occurs, businesses typically
spend and earn various amounts of money throughout the year.
To maintain some sort of healthy stability
with the money that comes and goes, it is vital for a business to
include the components of finance and
accounting. Van Horne (1974) states that the finance and
accounting functions of business deal primarily with
the investment, financing, and dividend decisions of a business.
Because all aspects of a business are
interrelated, and all work together, the functions of finance and
accounting can show management which
areas of the business are getting the most out of the money that
they use. Through these functions, business
managers/leaders can see what is being spent in the various
areas of the firm, as well as what, if anything,
they are getting in return for the money being spent. The
information here can then be shared with others
(e.g., shareholders, lenders, and investors) to signal the overall
strengths and weaknesses of the
organization.

Human Resource Management
The third component of business is human resource management
(HRM). According to Dessler (2005),
human resource management involves the policies and practices
that are used to manage the human
resource aspects of an organization. This includes recruiting,
screening, training, appraising, and rewarding.
Because people are performing the work that helps the firm
achieve its goals, HRM plays an extremely vital
role in any business. From going out and recruiting people to
work for the business to making sure that new
employees are properly trained and placed in the right positions
within the firm, HRM can really make or
break an organization. Sometimes, a business that is large
enough will have an entire department devoted
solely to performing HRM functions. However, many times,
especially in small organizations, HRM functions
may be performed by a department manager or the business
owners themselves.
Marketing
Marketing is the fourth basic component of business; it is the
process of determining, defining, anticipating,
and fulfilling the needs of the customers so that it can help the
business provide goods and services that are
best suited to meet those needs. David (2011) advises that there
are seven functions to marketing:
1. Customer analysis: This is where the customers’ needs and
wants are examined and evaluated so
the business can offer the best products, at the best prices, to
suit the needs of its consumers.

2. Selling products/services: Here, functions such as
advertising, sales promotions, and customer and
dealer relations are performed. They are all designed with the
goal of effectively reaching a particular
group of individuals (called a target market or market segment)
so they will buy and use the products
of the business.
UNIT x STUDY GUIDE
Title
3. Product and service planning: This is where activities such as
determining what type of packaging to
use for various goods, creating product warranties, determining
which types of product options to
make available for various markets, and removing or phasing
out of old products all take place.
4. Pricing: As the name implies, this is the function of
marketing that sets or determines what prices or
pricing options to assign to the various goods and services that
the business offers.
5. Distribution: Here, decisions regarding product warehousing,
distribution channels and coverage,
sites of retail locations and retail sales territories or districts,
and other functions related to getting
products to market are made and carried out.

6. Marketing research: This deals with the collecting and
analyzing of information about products on the
market to determine what the future needs of customers will be,
as well as what products the firm
should offer to customers in the future to meet their ever-
changing needs.
7. Cost/benefit analysis: This is the function of marketing that
determines whether or not the risks
involved with various marketing decisions are worth the costs
of those decisions.
Sales
The next component of business is sales. Sales generates
revenue for the organization. Any business can
have the best management, plans, and locations, but if it does
not sell any of its goods and services, then it
will not be successful. Unlike the marketing component, which
is supposed to draw people toward goods and
services offered by a business, sales actually receives the
money for the organization from its customers
(McClintock, n.d.). Sales in business can be achieved in several
ways. One way involves having a dedicated
group of people or sales force to go out and sell goods and
services to other entities or people. Another way
involves an associate in a physical location who assists
customers with their purchases and then collects
money from them once they have made up their mind to buy
something from the business.
Operations Management
The final component of business is operations management.

Here is where a person or people administer the
practices of the business so they can create the most efficient
methods of operation possible. This aspect of a
business is most concerned with taking the goods, services, and
people of an organization and converting
them into profits for the firm while balancing the costs and
revenue of the organization. One reason
operations management is so concerned with balancing costs is
so the business not only saves money (a
penny saved is a penny earned), but also keeps product costs
low for the customers.
Now that we have addressed the basic components of business,
we can further understand how businesses
operate and why they do what they do. While each component
has its own methods and best practices, they
are parts of a whole that must all work in conjunction to ensure
that the business reaches its goals and
objectives, which ultimately best serves its customers.
References
David, F. (2011). Strategic management: Concepts and cases
(13th ed.). Upper Saddle River, NJ: Pearson.
Dessler, G. (2005). Human resource management (10th ed.).
Upper Saddle River, NJ: Pearson.
Kelly, M., McGowen, J., & Williams, C. (2014). BUSN (6th
ed.). Mason, OH: Cengage Learning.
McClintock, L. (n.d.). The importance of sales in an
organization. Retrieved from

http://smallbusiness.chron.com/importance-sales-organization-
25038.html
Van Horne, J. (1974). Financial management and policy (1st
ed.). Upper Saddle River, NJ: Pearson.

ECON 2028Homework 6Dr. Grammy1. List and describe .docx

Recommended

Recommended

More Related Content

Similar to ECON 2028Homework 6Dr. Grammy1. List and describe .docx

Similar to ECON 2028Homework 6Dr. Grammy1. List and describe .docx (20)

More from SALU18

More from SALU18 (20)

Recently uploaded

Recently uploaded (20)

ECON 2028Homework 6Dr. Grammy1. List and describe .docx