Business and Economy Discussion Questions - 1504 Words

Business and Economy Discussion Questions 1. Business plays a critical role in the economy. In order to understand this relationship, one must understand the relationship between macroeconomics and microeconomics. Macroeconomics is the field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as changes in unemployment, national income, rate of growth, gross domestic product, inflation and price levels (Investopedia, 2011). In contrast, microeconomics looks at the decisions made by firms and individuals (Investopedia, 2011). It is impossible to understand microeconomics and business without understanding the larger economic system. Moreover, individual business decisions can impact the economy as a whole. This is because in a free market, or at least a mostly free market, as exist in the United States, supply and demand determine the prices of goods and services. Prices, in turn, tell businesses what to produce; if people want more of a particular good than th e HYPERLINK http://economics.about.com/ economy is producing, the price of the good rises. That catches the attention of new or other companies that, sensing an opportunity to earn profits, start producing more of that good. On the other hand, if people want less of the good, prices fall and less competitive producers either go out of business or start producing different goods (Beggs, 2012). 2. For-profit and nonprofit organizations bothShow MoreRelatedCritical Thinking And Case Studies1151 Words   |  5 Pagesdiscussing some case study questions from chapter 7 and critical thinking discussion questions for chapters 8 and 9 of the Global Business Today text. These questions are for the individual week 3 assignment of our MBA 539 International Business class. These discussion questions are composed to increase the reader’s understanding of â€Å"the political economy of international trade†, â€Å"foreign direct investment† and â€Å"regional economic integ ration† as explained within Global Business Today (Hill, C., 2014)Read MoreDiscussion Questions1621 Words   |  7 PagesCRITICAL QUESTIONS AND DISCUSSION Note: Questions from the end of the chapters can also be used for discussion questions Chapter 2: Foundations of Modern Trade Theory: Comparative Advantage Critical Thinking and Discussion Questions: QUESTION 1: Mercantilism is a bankrupt theory that has no place in the modern world. Discuss. QUESTION 2: Is free trade fair? Discuss. QUESTION 3: Unions in developed nations often oppose imports from low-wage countries and advocate trade barriers toRead MoreEssay on Globalization Is Good1443 Words   |  6 PagesDiscussion Questions for Globalization is Good Taiwan: Discussion questions 1. How has ‘land reform’ contributed to the rapid industrialization of Taiwan? Back in the 1950s the government of Taiwan started to offer yields of land for families to own and operate off of. The land, which was supplied with food/crop, released man power for industry to prosper. As the government distributed the land, the owners took advantage. Taiwan’s rural beginnings lead to industrial wealth like Mr. WangRead MoreEco 100 Week 9 Discussion Eco100 Week 9 Discussion1457 Words   |  6 Pageshttp://workbank247.com/q/eco100-complete-course-week-1-to-week-11/12258 ECO 100 Week 1 Discussion â€Å"What Is Economics and Principles of Economics†Ã‚  Please respond to the following: Identify a recent purchase that you made and determine how scarcity influenced your purchase decision. Explain two (2) ways in which you applied the use of marginal cost and benefit to your decision to pursue a college degree. ECO 100 Week 2 Discussion â€Å"Demand and Supply and Elasticity†Ã‚  Please respond to the following: Discuss oneRead MoreHow Did Corporations Become The Most Powerful908 Words   |  4 PagesJennings answers this question in his recent discussion at Grossmont college. He outlined many court cases where compounding decisions led to, in his opinion, making corporations more powerful than citizens. These decisions have caused a ripple effect changing the course and design of the incorporated world. Corporations have progressed so far from their original purport that they are now doing the exact opposite of their initial goal. â€Å"Is America a Democracy?† This first question was posed by ProfessorRead MoreDefinition Of Functional Level Strategies1083 Words   |  5 PagesQuestions on Chapter 4 1. What is functional level strategies and how it contributes to efficiency? Function strategy is that the approach a purposeful space takes to realize a company and business unit objectives and techniques by maximizing resource and productivity. It is necessary that a company sporadically (at least annually, sometimes as a part of the Medium-term coming up with process) review all purposeful strategy to assure that they re ïÆ'Ëœ Consistent with the business strategy. ïÆ'Ëœ SupportiveRead MoreThe Concept Of National Competitiveness1492 Words   |  6 Pagesbecome a key issue to managers of firms and understanding it has important ramification for policy makers as well. While most agree on the idea of competitive firms, the notion of competitive nations is vague at best. Even with all the debate, discussion, and research there is still no pervasive theory. In fact, there is not even an accepted definition. Classical economic theorists dismiss the concept of competitiveness all together and instead look to comparative advantage and the drivers ofRead MoreCase Discussion Questions Coca Cola1023 Words   |  5 PagesCase Discussion Questions Coca Cola 1. Why do you think that Roberto Goizueta switched from a strategy that emphasized localization towards one that emphasized global standardization? What were the benefits of such a strategy? Roberto Goizueta, a Cuba immigrant who became the CEO of Coke in 1981, switched from a strategy that emphasized localization ( which focuses on increasing profitability by customizing the firm’s goods so that they provide a good match to tastes and preferences in differentRead MoreBusiness Policy Chapter 5-8 Essay886 Words   |  4 PagesChapter 5 DISCUSSION QUESTIONS What is the relevance of the resource-based view of the firm to strategic management in a global environment? it permits the organization to be seen as a whole In doing so, the strengths and weaknesses within the firm can be examined.    This is done because as stated in the Hunger Wheelen (2006, 106) text, scanning and analyzing the external environment for opportunities and threats is not enough to provide an organization a competitive advantage. five-stepRead MoreBusiness Model Generated Can Have A Direct Impact On A Firms Performance1246 Words   |  5 PagesAs a manager the strategy, and business model generated can have a direct impact on a firms performance. If your strategy doesn’t have any notion of how it plans to generate a competitive advantage or your business model doesn’tt portray how you’re going to create value for the consumer, it will have a negative impact on your firm, This will cause your firm loose in terms of the competition within the industry, and generate a competitive disadvanatage, which is underperformance relative to other