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What is a Business? In your own words, explain what a business is?

What is a Business? In your own words, explain what a business is?

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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9 On O on G Qu O Ins SO so O I Gra E Co E DiaE Co Shtt D m/document/d/1NIbZ8y8Hza_EHeTgoCptFjhxirv5DG8Q/edit icati. H Astronaut Bio's Pt Periodic Table - Pta... G 1.429 kg/m3 to g/. M (no subject) - mori. H Help Last edit was yesterday at 7:24 PM - Calibri BIUA 三===| 三|ニミ▼E▼三 28 4. 2 3 5 O What is a Business? In your own words, explain what a business is? Types of Businesses Explain each of the following types of businesses. Then provide 3 examples of each. • for-profit business • non-profit organization. Product Life Cycle List the 4 stages of the Product Life Cycle. Then explain how a company's sales are doing at each stage (ex. At this stage a company's sales are increasing). Forms of Business Ownership List and explain the 3 forms of business ownership we discussed in Unit 1. Provide 1 advantage and 1 disadvantage for each form of ownership. Supply and Demand Define Supply. Define Demand. How do they interact to determine the market price of a product or service? Needs and Wants Explain the difference between a Need and a Want. Then provide 3 examples of each (think about products or services you purchase or would like to purchase). Explain Maslow's Hierarchy of Needs and Wants, What are the stages? Briefly explain each stage.
Transcribed Image Text:9 On O on G Qu O Ins SO so O I Gra E Co E DiaE Co Shtt D m/document/d/1NIbZ8y8Hza_EHeTgoCptFjhxirv5DG8Q/edit icati. H Astronaut Bio's Pt Periodic Table - Pta... G 1.429 kg/m3 to g/. M (no subject) - mori. H Help Last edit was yesterday at 7:24 PM - Calibri BIUA 三===| 三|ニミ▼E▼三 28 4. 2 3 5 O What is a Business? In your own words, explain what a business is? Types of Businesses Explain each of the following types of businesses. Then provide 3 examples of each. • for-profit business • non-profit organization. Product Life Cycle List the 4 stages of the Product Life Cycle. Then explain how a company's sales are doing at each stage (ex. At this stage a company's sales are increasing). Forms of Business Ownership List and explain the 3 forms of business ownership we discussed in Unit 1. Provide 1 advantage and 1 disadvantage for each form of ownership. Supply and Demand Define Supply. Define Demand. How do they interact to determine the market price of a product or service? Needs and Wants Explain the difference between a Need and a Want. Then provide 3 examples of each (think about products or services you purchase or would like to purchase). Explain Maslow's Hierarchy of Needs and Wants, What are the stages? Briefly explain each stage.
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