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Chapter 1 Business Now: Change Is the Only Constant

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Chapter 1 Business Now: Change Is the Only Constant
Chapter One

Business Now: Change Is the Only Constant

Review Questions What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why? Financial Institutions got a bailout By President Obama in 2009, Mortgage values dropped, financial institutions begin to Feel the pressure especially firms such as Bear Stearns that specialized in trading Mortgage backed securities. There was $61.7bn in losses with AIG, strong economy Out of more jobs can accelerate the next decade, there be a budget deficit. AIG got A $180bn bailout; while Bank of America got $45bn as well as JP Morgan Chase $25bn, Goldman Sachs got $10bn. The Rapid pace of change in business is the Internet, Cellphones and exposure on television.

What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit?People risk their Time, money and other resources to start and manage a business. But, They also Give hope to a better workforce. A lot of people; who are unemployed such as myself Right now will find jobs that are more flexible and challenging, working for big and Small business owners.

When did American business begin to concentrate on customer needs? Why? Value of Certain Products begin to go up. High Gas Prices from $1.25 to $4.25, The Cost of a loaf Of Bread is $2.79, the cost of dishwashing liquid about a $1.00, Purchase of products, By Consumers.

How do nonprofit organizations compare to businesses? What role do nonprofits play in The economy? How do they interact with businesses? Nonprofits help you learn and Grow. Other businesses turn profit on sales and smart-buying. Nonprofits being Organizations such those with Computers would be nonprofit. Consumer goods help the Community.

What are the factors of production? How can economies

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