the fundamentals of business and economics
Download
Skip this Video
Download Presentation
The Fundamentals of Business and Economics

Loading in 2 Seconds...

play fullscreen
1 / 20

The Fundamentals of Business and Economics - PowerPoint PPT Presentation


  • 113 Views
  • Uploaded on

Chapter 1 Objectives. After studying this chapter, you will be able to:Define what a business is and identify four vital social and economic contributions that businesses make.Differentiate between goods-producing and service businesses, and list five factors contributing to the increase in the n

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'The Fundamentals of Business and Economics' - truman


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
the fundamentals of business and economics

The Fundamentals of Business and Economics

Chapter 1

©2007 Prentice Hall

chapter 1 objectives
Chapter 1 Objectives

After studying this chapter, you will be able to:

  • Define what a business is and identify four vital social and economic contributions that businesses make.
  • Differentiate between goods-producing and service businesses, and list five factors contributing to the increase in the number of service businesses.
  • Differentiate between a free-market system and a planned system.

©2007 Prentice Hall

chapter 1 objectives cont
Chapter 1 Objectives, cont.
  • Explain how supply and demand interact to affect price.
  • Discuss the four major economic roles of the U.S. government.
  • Explain how a free-market system monitors its economic performance.
  • Identify five challenges you will face as a business professional in the coming years.

©2007 Prentice Hall

how this course will help your career
How this Course Will Help Your Career
  • Understand what it takes to be an entrepreneur
  • Learn the lingo
  • Develop soft skills
  • Learn about career opportunities
  • Understand the role business plays in society
  • See the business world through the eyes of a business rather than a consumer

©2007 Prentice Hall

what is business
What is Business?

For-Profit

Non-Profit

Money Motive

Social Service

Ethical Conduct

Efficiency

Effectiveness

Social Responsibility

©2007 Prentice Hall

web 2 0
Web 2.0
  • Definition
  • Activities:
    • Blogging
    • Podcasting
    • Wikis
    • Newsfeeds
    • Tagging
    • Virtual Worlds

©2007 Prentice Hall

types of business
Types of Business

Goods Producing Business

Service Business

Capital Intensive

Labor Intensive

©2007 Prentice Hall

why is the service sector growing
Why is the Service Sector Growing?
  • More disposable income.
  • Changing demographic patterns and lifestyle trends.
  • Support complex goods and new technology.
  • Professional advice.

©2007 Prentice Hall

economics
Economics

©2007 Prentice Hall

factors of production
Factors of Production

©2007 Prentice Hall

economic system
Economic System

Scarce

Resources

Human

Resources

Natural

Resources

Capital

Entrepreneurs

Knowledge

Factors of Production

Goods

Services

©2007 Prentice Hall

types of economic systems
Types of Economic Systems

Free-Market

System

Planned

System

Mixed

Capitalism

Capitalism

Socialism

Communism

Privatization

©2007 Prentice Hall

supply and demand
$35

$30

$25

$20

$15

$10

Not enough demand

D

Right price

makes supply & demand equal

E

Price

S

Not enough supply

10 15 20 25 30

Pairs of blue jeans (quantity)

Supply and Demand

©2007 Prentice Hall

free market competition
Free-Market Competition

Pure

Competition

Monopoly

Oligopoly

Monopolistic

Competition

©2007 Prentice Hall

competitive advantage
Competitive Advantage
  • Price
  • Speed
  • Quality
  • Service
  • Innovation

©2007 Prentice Hall

role of the government
Role of the Government
  • Foster competition
  • Regulate and Deregulate industries
  • Protect Stakeholder and Stockholder’s rights
  • Contribute to economic stability

©2007 Prentice Hall

economic indicators
Economic Indicators
  • Interest Rates
  • Unemployment Rates
  • Housing Data
  • Industrial Productivity

©2007 Prentice Hall

inflation vs deflation
Inflation vs. Deflation

Inflation

Purchasing Power

Deflation

Consumer Price

Index (CPI)

©2007 Prentice Hall

producer price index ppi
Producer Price Index (PPI)
  • Gross Domestic Product (GDP)
  • Gross National Product (GNP)
  • Globalization

©2007 Prentice Hall

challenges of globalization
Challenges of Globalization
  • Products and Services
  • Managing Small Business (Entrepreneurship)
  • Globalization and Workforce Diversity
  • Ethics and Social Responsibility
  • Technology and Electronic Commerce

©2007 Prentice Hall

ad