Reference no: EM133086326
1. Define the term business and explain the purpose that it serves in our society.
2. Explain the 4 resources that a business needs to operate successfully and explain why each resource is important.
3. What is the difference between a for-profit and a non-profit organization, provide an example for each?
4. Define communism, socialism, capitalism, and a mixed economy. Which term describes the U.S. more appropriately? Provide an example to support your claim.
5. What is Human Resource Management and what purpose does it serve for a business?
6. Explain the marketing mix and why is this important for a business? Discuss the product life cycle and use a product that you are familiar with to demonstrate how that product experienced this cycle.
7. Explain the purpose of the Federal Reserve Bank {a.k.a The FED}, the Fractional Reserve Banking system, the difference between the stock market and the economy, and discuss how these things affect you.
8. What is corporate social responsibility, what purpose does it serve?
9. What does the board of directors do for an organization, what purpose does the board serve?
10. Share 3 things that you have learned this semester that you did not know prior to taking this course, and how it has helped with your understanding of the topic of business.