1. Answer the following. • What are the five major industry, economic, political and social changes taking place that will affect a company? • What are the opportunities and problems ahead in careers? • How will a profession be different in two years? In five years?

1. Answer the following. • What are the five major industry, economic, political and social changes taking place that will affect a company? • What are the opportunities and problems ahead in careers? • How will a profession be different in two years? In five years?

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 5PA

See similar textbooks

Similar questions

1
Wise leaders know that the key to balancing innovation and execution skills in a team or company is knowing who has what skills and then figuring out how to combine those complementary strengths within a team to generate quality ideas that will produce a positive impact. What is the difference between a discovery-driven team and an execution-driven team? Also, explain the importance of understanding how to effectively manage these types of teams and how they generate innovation.
1
11. What must an entrepreneur do to earn a profit? How do the actions of firms earning profits influence the value of resources? What happens to the value of resources when losses are present? If a firm making losses goes out of business, is this bad? Why or why not?
QUESTION 15 Which of the following professions would we expect to have the highest economic profit? a. Small business owners b. Local-level musicians c. Birthday party clowns d. Reality tv stars
2. The company that you manage has already spent $5 million on developing a new product – a website that combines You Tube, Twitter, and Facebook – called You Twit Face. The development is not quite finished. It will cost an extra $3 million to finish development and complete the product. At a recent meeting, your salespeople report that the expected sales of your new product (if you finish) are $7 million total. If you do not finish developing the product you can sell the incomplete product to another company for $2 million. What is the MC of finishing the development? __________________ What is the MB of finishing the development? __________________ Should you finish the product? Why or why not? Use the idea of “thinking at the margin” to explain your answer.
What are user-led innovation and lead user methods? How do these two approaches impact the innovation process inside organizations? Provide examples to explain the concepts.
What do economists mean when they refer to improvements in technology?
3 Work with a partner. Look at the graph below. Answer the questions to help you read and understand the graph. O- Total DVD revenue -O- Total video streaming revenue Figure 1 18,000 16,000 14,000 12,000 10,000 8000 6,000 4.000 2.000 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1 The graph compares DVD and video streaming revenue. What do these terms mean? Which line on the graph represents which term? 2 Which years are covered? 3 What is the meaning of the numbers on the vertical axis? 4 In what year did revenue from sales of DVDs equal revenue from video Streaming? 4 Complete the summary with figures from the graph. In 2010, revenue from DVD sales was worth abput n Smilion
Manisha could work for another firm making $10,000 per month, but she decides to open her own gourmet cheese store and pay herself $2,000 per month. In her first month of operations, she spends $6,000 on cheese, $1,000 on other items, and $2,500 on rent. She had a great opening month, and brought in revenues of $13,500. What are Manisha's economic profits? A. $4,000 B. - $5,000 C. $3,000 D. - $6,000
3 General purpose An organizational format that arranges information in logical categories ◇ The objective you want to accomplish in a speech O Describing the order in which things must be done from first, to second, to third, etc.) ○ “President Rabbit, president of our Maintown branch, claims the product increased work productivity by 50 percent." ○ Get the audience's attention, state your central idea, tell them how they'll benefit, and preview the speech Speech style that is well-prepared, rehearsed, and delivered in conversational style O Practicing out loud, and with a live audience, where you attend to your body and voice Ideas and graphics that you can add to your speech Designed to encourage people to believe or do something O Designed to teach people how to do something or how something works
Why does entry occur?