Chapter 1 What Is Economics? 1) All economic questions are about A) how to make money. B) what to produce. C) how to cope with scarcity. D) how to satisfy all our wants. 2) An incentive A) could be a reward but could not be a penalty. B) could be a penalty but could not be a reward. C) could be either a reward or a penalty. D) is the opposite of a tradeoff. 3) An inducement to take a particular action is called A) the marginal benefit. B) the marginal cost. C) opportunity cost
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BUSINESS ENVIRONMENT. The business environment is the aggregate of all conditions‚ events‚ and influences that surround and affect a business firm. Business environment generally refers to the external factors affecting‚ either positively or negatively‚ the operation of a firm. The most important external factors include economic‚ legal‚ political‚ social and technological factors Business environment is classified as follows:- (a) Internal Environment: These are the environmental factors which
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ESSAY WRITING * 1 paragraph 1 main point (minimum 3 to 5 points) * Supported with elaboration * Relevant examples * Numerical data * Relevant diagram Section A (answer only 2 questions‚ 30 marks each) * Balance of payment (descriptive) * Capital account * Current account * Trade account * How to improve the balance of payment deficit (import > export) * Increase export * Decrease export * Depreciation (making currency cheaper) * Devaluation
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International business is a term used to collectively describe all commercial transactions (private and governmental‚ sales‚ investments‚ logistics‚and transportation) that take place between two or more nations. Usually‚ private companies undertake such transactions for profit; governments undertake them for profit and for political reasons.[1] It refers to all those business activities which involves cross border transactions of goods‚ services‚ resources between two or more nations. Transaction
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Business Strategy (BS) Capital University of Economics and Business BTEC Center Strategy formulation in business environment Who win the Strategy How to win the strategy Unit code:7 Edexcel level 5 Unit Tutor: PHOA Khee Liang Student: Li Yuxuan (Sunny) Date of issue: 20 March 2013 Due Date: 22 April 2013 Contents 1.1 Our BTEC Center compared with Beijing Benz Company. 5 1.4 The business strategy for Beijing Benz Company. 6 Management Culture of Mission Statement
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hotel‚ illustration of how changes in external environment factors have impacted on business over the last 5 to 10 years. Also‚ this paper will examine the environmental forces that are relevant to the business and discuss the rationale behind the environmental forces. Moreover‚ it presents an outline why other factors and forces may not be relevant to this business. Finally‚ this paper will identify and discuss the forces that may effect on business over the next decade or so supplemented with a
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Learning Outcomes Analyze business environments in terms of transformation systems and internal and external environments Identify the most relevant elements of the business environments using PESTLE analysis and Porter’s five forces model Discuss the classical‚ human relations and systems approaches to organizations Describe and compare the various structures that may be used within organizations. The business as a transformation system Transformation Process: Businesses utilize the inputs
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other: duties and responsibilities‚ hours of work‚ salary‚ holiday entitlement. 2a) List three key points of legislation that affect employers in a business environment. Health and safety‚ pay and pensions‚ employment rights and responsibilities 2b) List three key points of legislation that affect employees in a business environment. Health and safety‚ pay and pensions‚ employment rights and responsibilities 3. Identify a range of places where a person can find
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Apprenticeship in Business and Administration Unit 202 Improve own performance in a business environment Credit value: 2 The purpose and benefits are for self satisfaction and motivation‚ to impress your line/regional managers‚ for possibilities of a bonus/promotion‚ to improve your knowledge of certain areas which may help in the particular job role you are in and also in future jobs‚ to help achieve personal and mandatory goals‚ to help improve and maintain high and professional standards
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Business Environment Assignment 4 Contents Question 1a 4 Question 1b 6 Question 1c 8 Question 2a 9 Question 2b 12 Question 2c 13 Question 3a 13 Question 3b 15 Question 3c 16 Question 4a 18 Question 4b 19 Question 4c 21 Notes 24 Reference list 24 Introduction The Musgrave group is Ireland’s largest grocery wholesale/distributor and retailer. The Organisation is family owned‚ founded in 1876 and is the second largest private employer in Ireland (38‚000). The business is split into two
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