Business Intro

In: Business and Management

Submitted By lunaruby91
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1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? (Your opinion, supported by reasoning, not just a list from the text) 2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit? 3. When did American business begin to concentrate on customer needs? Why?
4. What are the factors of production? (list with a definition) How can economies grow when one or more of the factors is weak? 5. What are the fundamental elements of the free market/capitalist system? What are the fundamental rights of capitalism? How can businesses thrive within this system? (Explain) 6. Describe the key principles of socialist and communist economic systems. Does more government control mean less economic opportunity? Why or why not? 7. Why do most countries have neither “pure” market nor “pure” planned economies? Is the trend toward the market end of the spectrum likely to continue? Why? 8. What is an ethical dilemma? (define) 9. Think of a time you faced an ethical dilemma at work, at school, or at home. Be sure to choose a situation in which you had to choose between two options, each with negative consequences for you or someone else. What values were involved? What choice did you make? What was the impact on each party involved? Would you make the same choice if you were faced with a similar situation today? Why or why not?re the factors of production? (list with a definition) How can economies grow when one or more of the factors is weak?…...

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