PRIESTLEY

ECONAPPRENTICE

2013

Have you got what it takes to end year 1 on a Have you got what it takes to end year 1 on a Have you got what it takes to end year 1 on a Have you got what it takes to end year 1 on a

high?high?high?high?

Only one team will win and put their names in the Economics

Hall of Fame.

AQA Unit 3 – Business Economics and the Distribution of Income

This unit focuses on applying some essential economic ideas to the decisions made

by businesses. Because of this it is exactly the sort of topic that must be learnt by

practical investigations and research. Once complete, this task will give you a

base of knowledge for sections 3.3.1, 3.3.2 and 3.3.3 of the syllabus.

Over the next few weeks until the summer holidays you will be taking part in an

Apprentice style activity which will ultimately lead to you pitching a business idea

to the rest of the class. You will obviously be using your economic knowledge to

help you.

The task will run over several lessons with all the stages needing to be completed

to have a chance of winning the overall competition. There will also be

opportunities for teams to get extra tips or bonus points by watching posts from

the priestleyeconom twitter account.

Stage 1 – Monday 3rd and Tuesday 4

th June

You will need to carry out a detailed survey of the local

high street, ideally in Stockton Heath or alternatively

where you live if transport is a problem.

The purpose of this is to identify the sort of businesses that

already exist in the local area and to assess whether a

new business may be profitable.

List all the businesses in the area you are researching with

these details as a minimum

• Name of business

• Main activity of business

• Opening hours

• Example of product sold with a price

• Other facilities available e.g. car parking, delivery etc.

This information must be brought to lesson on Monday 10th June.

Stage 2

In your groups you will use the research you have collected

to develop a visual display using the most appropriate

media. This display will be used as part of your team’s

proposal development. Further information will be given to

you.

Stage 3

The business proposal. Having completed the preliminary research

your team must identify the market sector or industry it believes

presents the best opportunity. You will need to be clear about

exactly what your business idea is, the nature o

product, a guide as to the selling price and a clear rationale for

your choice.

This information will form part of the final task

Stage 4

Any business needs to set clear objectives. It is essential you

set clear objectives fo

developed. These need to be presented in the form of a

mission statement which must be available in a professional

format.

Stage 5

Your team may need to meet with financiers and insurance

agents at Lloyds in London. You will need to

itinerary which meets the exact criteria given to you.

A summary of this itinerary must be submitted as part of the

final task.

Stage 6

All members of your team should have a copy of the tasks

and work in their folders. A final copy will

submitted along with your pitch. The pitch can be

delivered in any format you think will be most effective

but must include information from all the earlier stages.

The business proposal. Having completed the preliminary research

your team must identify the market sector or industry it believes

presents the best opportunity. You will need to be clear about

exactly what your business idea is, the nature of the proposed

product, a guide as to the selling price and a clear rationale for

This information will form part of the final task

Any business needs to set clear objectives. It is essential you

set clear objectives for the business proposal you hav

developed. These need to be presented in the form of a

mission statement which must be available in a professional

format.

Your team may need to meet with financiers and insurance

agents at Lloyds in London. You will need to develop a travel

itinerary which meets the exact criteria given to you.

A summary of this itinerary must be submitted as part of the

All members of your team should have a copy of the tasks

and work in their folders. A final copy will need to be

submitted along with your pitch. The pitch can be

delivered in any format you think will be most effective

but must include information from all the earlier stages.

The business proposal. Having completed the preliminary research

your team must identify the market sector or industry it believes

Any business needs to set clear objectives. It is essential you

proposal you have

developed. These need to be presented in the form of a

mission statement which must be available in a professional

All members of your team should have a copy of the tasks

need to be

submitted along with your pitch. The pitch can be

delivered in any format you think will be most effective

but must include information from all the earlier stages.