1: Given a description of a typical concern. show how that concern acts within our economic system to accomplish its ends every bit good as those of society. along with an apprehension of how the hereafter may impact these ends.
* Know how authorities ordinance affects the economic system.
* Show the relationship of supply and demand every bit illustrated on supply and demand curves.
* Define elements of productiveness and how it can be increased. * Define “quality of life” .
* Know the similarities and differences between for net income and not-for-profit organisations.
* Know the function of the US Federal Reserve and what tools they use to implement their policies.
* Know what a free market economic system is and its relationship to the distribution of wealth.
* Define a socialist economic system.
* Know how net income is determined for a concern.
* Know who the stakeholders are of a concern.
* Know what constitutes US financial policy and how is it used to pull off the economic system.
* Define gross domestic merchandise ( GDP ) .
* Know and explicate the “rights of capitalism” .
2: Given the importance of moralss in concern. be able to understand and turn to ethical quandaries that may happen in workplace activities and offer suggestions to forestall their return.
* Be able to specify moralss.
* Know how conformity is related to moralss.
* What some ethical concerns are as described in the text? * List and explicate the stairss to be considered when finding the moralss of an action. * Know the relationship of moralss and leading.
3: Given the demand to increase net incomes through cost decreases. depict the usage of globalisation schemes to carry through this enterprise. along with a treatment of the pros and cons of this attack.
* Define and use duties. import quotas and subsidies as applied to foreign trade.
* Know what trade protectionism is.
* Define a favourable and unfavourable balance of trade.
* Define exchange rate. and explicate natation. pegged and fixed exchange rates.
* Know what the General Agreement on Tariffs and Trade ( GATT ) is and its intent.
* Know the significance of currency devaluation.
* Know what is meant by “balance of payments” as related to foreign trade.
* Explain the advantages of free trade.
* Define what creditor and debitor states are.
4: Given apprehension of entrepreneurship. be able to depict the major elements necessary for success. along with an apprehension of the possible hazards associated with get downing a concern venture.
* Describe the signifiers of concern ownership. cognize how they are used and the advantages and disadvantages of each one. * Describe a franchise and cognize its advantages and disadvantages. * Define a concern amalgamation.
* Know the intent of a limited liability company.
* Know what advantages a little concern may hold when come ining a foreign states market.
* Know why adult females as a group are successful in franchises.
* Define a farm co-op.
* Know what is the difference between a in private and publicly-owned concern.
* Know grounds why some people become enterprisers.
* Know some of the grounds for the success and failure of little concerns.
* Define intrapreneur.
* Know the stairss that should be taken in the purchasing of a franchise.
* Know about the Small Business Microloan plan.
* Know which concern sector offers the most chance for net income for an enterpriser.
* Know what SCORE is.
* Know what is considered “a self-nurturing concern person” .
* Know what the facets of a limited liability company are.