IUPUI BUS 100 - Global Business in a Global Economy I (4 pages)

Previewing page 1 of 4 page document View the full content.
View Full Document

Global Business in a Global Economy I



Previewing page 1 of actual document.

View the full content.
View Full Document
View Full Document

Global Business in a Global Economy I

118 views


Lecture number:
1
Pages:
4
Type:
Lecture Note
School:
Indiana University - Purdue University Indianapolis
Course:
Bus 100 - Basic Accounting Skills

Unformatted text preview:

BUS X100 1st Edition Lecture 1 Outline of last lecture First lecture Outline of Current Lecture Free Enterprise and Economic Systems I Business a definition II Resources a human material informational and financial III Economic Systems a definition IV Types of Economic Systems a capitalism b socialism c communism V Key Features of the U S Free Enterprise System a consumer s freedom of choice b private ownership of land and real property c competition d supply and demand e circular flow f business cycles VI Types of Competition a definition b pure competition c monopolistic competition d oligopoly e monopoly VII The Basis For International Business a absolute advantage b comparative advantage These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute Current Lecture Free Enterprise and Economic System I Business a the organized effort of individuals to produce and sell for a profit the goods and services that satisfy society s needs II Fundamental Business Resources a Human resources hospital staff researchers police officers etc b Informational resources television court trials newspaper articles c Material resources buildings machinery raw materials d Financial resources money required to pay employees purchase materials banks loaners III Types of Economic Systems a Economics is the study of how wealth is created and distributed IV two perspectives microeconomics and macroeconomics a Microeconomics the study of the decisions made by individuals and businesses b the decisions that are made and how people deal with the distribution of wealth determines the kind of economic system economy the nation has c Macroeconomics the study of national economy and the global economy V Capitalism a Economic system where individuals own and operate the majority of businesses that provide goods and services as well as having the right to own and sell private property b Adam Smith s Laissez



View Full Document

Access the best Study Guides, Lecture Notes and Practice Exams

Loading Unlocking...
Login

Join to view Global Business in a Global Economy I and access 3M+ class-specific study document.

or
We will never post anything without your permission.
Don't have an account?
Sign Up

Join to view Global Business in a Global Economy I and access 3M+ class-specific study document.

or

By creating an account you agree to our Privacy Policy and Terms Of Use

Already a member?