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Requirements September 1967 until January 1969

1. Do the following:

(a) write an article of 500 words or more explaining: (1) what free enterprise is, (2) its benefits and responsibilities, (3) the difference between freedom and license; and (4) the application of the Scout Oath and Law to business and free enterprise.

(b) Be able to describe: (1) the industrial revolution and the major developments that marked the beginning of the modern industrial era in the United States, and (2) the contributions of five people who have had a great influence on the development of business or industry in the United States.

2. Do the following:

(a) Visit a local bank and talk with one of the officers or staff. Based on what he tells you, diagram the organization of the bank and show its relationship with other banks, business, and industry.

(b) Explain how changes in interest rates, taxes, and government spending increase or decrease the flow of money into or out of business and industry.

(c) Explain how a proprietorship or partnership gets its capitol. Discuss and explain four ways in which a corporation gets its capital.

(d) Explain the role and importance of profit in business.

(e) Name five kinds of insurance useful to business. Briefly describe their purpose.

 3. Do the following:

(a) From the list of stocks shown on the financial pages of a newspaper, select and pretend you have purchased $100 worth of two or more stocks. Explain to your counselor how you “purchased” the stock and why you decided to “buy” it in preference to others listed. For a period of 3 months, keep a weekly record of the rise and fall of your stock’s market value and any dividends declared.

(b) Write to one company whose stock you “purchased” and ask for a copy of its annual report. Study and then review this with your counselor.

4. Do the following:

(a) Draw an organizational diagram of a typical central labor council.

(b) Describe for your counselor: automation, union shop, open shop, collective-bargaining agreements, shop steward, business agent, union counselor.

(c) Explain the part played by four or more different Federal or State agencies in labor relations.

5. Conduct a small business involving a product or service for a period of at least 3 months after first determining the need for your service or product. For example: a newspaper route, lawn mowing, snow shoveling, product sales of items you have made or grown. Show by simple records the costs of materials or tools, income, sales made or services performed and profit.

Include a statement describing (a) how service, friendliness, hard work, and salesmanship helped build your business, and (b) the benefits you, your suppliers, your customers, and others received because you were in business. Comparable 4-H, FFA, or Junior Achievement projects may be used for this requirement.

Requirements January 1969 until June 1972

1. Do the following:

(a) Explain four characteristics of the free enterprise system as practiced in America; its benefits and responsibilities; the difference between freedom and license; and the application of the Scout Oath and Law to business and free enterprise.

(b) Be able to describe: (1) the industrial revolution and the major developments that marked the beginning of the modern industrial era in the United States and (2) the contributions of five people who have had a great influence on the development of business or industry in the United States.

2. Do the following:

(a) Visit a local bank and talk with one of the officers or staff. Based on what he tells you, diagram the organization of the bank and show its relationship with other banks, business, and industry.

(b) Explain how changes in interest rates, taxes, and government spending increase or decrease the flow of money into or out of business and industry.

(c) Explain how a proprietorship or partnership gets its capital. Discuss and explain four ways in which a corporation gets its capital.

(d) Explain the role and importance of profit in business.

(e) Name five kinds of insurance useful to business. Briefly describe their purpose.

3. Do the following:

(a) From the list of stocks shown on the financial pages of a newspaper, select and pretend you have purchased $1000 worth of two or more stocks. Explain to your counselor how you “purchased” the stock and why you decided to “buy” it in preference to others listed. For a period of 3 months, keep a weekly record of the rise and fall of your stock’s market value and any dividends declared.

(b) Write to one company whose stock you “purchased” and ask for a copy of its annual report. Study and then review this with your counselor. 

4. Do the following:

(a) Draw an organizational diagram of a typical central labor council.

(b) Describe for your counselor: automation, union shop, open shop, collective-bargaining agreements, shop steward, business agent, union counselor.

(c) Explain the part played by four or more different Federal or State agencies in labor relations.

5. Conduct a small business involving a product or service for a period of at least 3 months after first determining the need for your service or product. For example: a newspaper route, lawn mowing, snow shoveling, product sales of items you have made or grown. Show by simple records the costs of materials or tools, income, sales made or services performed and profit.

Include a statement describing:

(a) how service, friendliness, hard work, and salesmanship helped build your business.

(b) the benefits you, your suppliers, your customers, and others received because you were in business.

Comparable 4-H, FFA, or Junior Achievement projects may be used for this requirement.