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| 1 | |
What is the fundamental goal of business? Do all organizations share this goal? |
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| 2 | |
Name the forms a product may take and give some examples of each. |
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| 3 | |
Who are the main participants of business? What are the main activities? What other factors have an impact on the conduct of business in the United States? |
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| 4 | |
What are four types of economic systems? Can you provide an example of a country using each type? |
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| 5 | |
Explain the terms supply, demand, equilibrium price, and competition. How do these forces interact in the American economy? |
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| 6 | |
List the four types of competitive environments and provide an example of a product of each environment. |
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| 7 | |
List and define the various measures governments may use to gauge the state of their economies. If unemployment is high, will the growth of GDP be great or small? |
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| 8 | |
Why are fluctuations in the economy harmful? |
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| 9 | |
How did the Industrial Revolution influence the growth of the American economy? Why do we apply the term service economy to the United States today? |
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| 10 | |
Explain the federal government's role in the American economy. |
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