|  American Business Requirements 1975
 
      Do the following:
      
        Explain four features of the free enterprise system in America. Tell 
        its benefits and responsibilities. Describe the difference between 
        freedom and license. Tell how the Scout Oath and Law apply to business 
        and free enterprise. Describe the industrial revolution: Tell about the major 
        developments that marked the start of the modern industrial era in the 
        United States. Tell about five people who had a great influence on 
        business or industry in the United States. Tell what each did. Do the following:
      
        Visit a bank. Talk with one of the officers or staff. Chart the 
        organization of the bank. Show its relationship with other banks, 
        business, and industry. Explain how changes interest rates, taxes, and government spending 
        change the flow of money into or out of business and industry. Explain how a proprietorship or partnership gets its capital. 
        Discuss and explain four ways a corporation gets its capital. Explain the place of profit in business. Name five kinds of insurance useful to business. Describe their 
        purpose. Do the following:
      
        Pick two or more stocks from the financial pages of a newspaper. 
        Pretend to have bought $1,000 worth of these stocks. Explain how you 
        "bought" the stocks. Tell why you decided to "buy" them. Keep a weekly 
        record for three months of your stocks' market value. Show any dividends 
        declared. Write to one company whose stock you "bought." Ask for a copy of its 
        annual report. Explain it. Do the following:
      
        Draw an organizational chart of a typical central labor council.
        Describe automation, union shop, open shop, collective-bargaining 
        agreements, shop steward, business agent, union counselor. Explain the part played by four different federal or state agencies 
        in labor relations. Run a small business involving a product or service for at least 3 
      months. First find out the need for it. For example: a newspaper route, 
      lawn mowing, sales of things you have made or grown. Keep records showing 
      the costs, income, and profit.* Report:
      
        How service, friendliness, hard work, and salesmanship helped build 
        your business. The benefits you and others received because you were in business.
         ________*Comparable 4-H, FFA, 
    or Junior Achievement projects may be used
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