Competition among businesses has never been greater. Identify and describe several ways that businesses can become more competitive.
When describing the state of the U.S. economy, reporters often refer to the nation’s GDP, its unemployment rate and the CPI. Explain what each of these terms means and why each measure is significant.
Identify and describe the 4 basic rights that form the foundation of capitalism.
Explain the significance of “price” in a free market economic system.
Describe and provide examples of 3 different strategies for reaching global markets.
Explain and provide examples of the difference between comparative and absolute advantage in global markets.
Identify the 3 questions that an ethics-based manager should ask when facing a potentially unethical action and provide an example where you would use these 3 questions to evaluate a decision.
Although most new firms start out as sole proprietorships, few large firms are organized this way. Why is the sole proprietorship such a popular form of ownership for a new firm? What features of the sole proprietorship make it unattractive to growing firms?
List and discuss at least 3 causes of small business failure.
Identify and describe at least 3 attributes of a successful entrepreneur.