
BUSN (with MindTap Business, 1 Term (6 Months) Printed Access Card) (MindTap Course List)
11th Edition
ISBN: 9781337407120
Author: Marcella Kelly, Chuck Williams
Publisher: Cengage Learning
expand_more
expand_more
format_list_bulleted
Question
Chapter 1, Problem 1LO
Summary Introduction
To discuss: Business and its role in the economy.
Expert Solution & Answer

Explanation of Solution
An activity or an organization that provides the services and goods with an effort for earning profit is known as business. In general business plays an important role in the economy and it is termed as an engine of the economy. The business generally provides jobs and let people in making money that helps them in purchasing goods and services. Thus, the economy will not be efficient without the business.
Want to see more full solutions like this?
Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!
Students have asked these similar questions
Please solve fast this questions of accounting
Dear tutor soln
Please explain the solution to this general accounting problem with accurate explanations.
Chapter 1 Solutions
BUSN (with MindTap Business, 1 Term (6 Months) Printed Access Card) (MindTap Course List)
Knowledge Booster
Similar questions
- Financial Accountingarrow_forwardWhat role does transaction pattern analysis serve in control design? (4 PTS) (a) Random checks work better (b) Analysis wastes time (c) Patterns hold no meaning (d) Recurring sequence identification guides preventive measures MCQarrow_forwardI need guidance with this financial accounting problem using the right financial principles.arrow_forward
- Need soln quicarrow_forwardViola Enterprises purchased an item for inventory that cost $25 per unit and was priced to sell at $40. It was determined that the replacement cost is $22 per unit. Using the lower-of-cost-or-market value, what amount should be reported on the balance sheet for inventory?arrow_forwardDavid Corp. manufactures 2 products, drills and wrenches. The company has estimated its overhead in the assembly department to be $200,000. The company produces 500,000 drills and 400,000 wrenches each year. Each drill uses 4 parts, and each wrench uses 5 parts. How much of the assembly overhead should be allocated to drills?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Contemporary MarketingMarketingISBN:9780357033777Author:Louis E. Boone, David L. KurtzPublisher:Cengage LearningFoundations of Business - Standalone book (MindTa...MarketingISBN:9781285193946Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage Learning
- Foundations of Business (MindTap Course List)MarketingISBN:9781337386920Author:William M. Pride, Robert J. Hughes, Jack R. KapoorPublisher:Cengage LearningMarketingMarketingISBN:9780357033791Author:Pride, William MPublisher:South Western Educational Publishing

Contemporary Marketing
Marketing
ISBN:9780357033777
Author:Louis E. Boone, David L. Kurtz
Publisher:Cengage Learning

Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning

Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Marketing
Marketing
ISBN:9780357033791
Author:Pride, William M
Publisher:South Western Educational Publishing