INTRIDUCTON TO BUSINESS
Business
Activity – buying and selling of goods and services
Two types of factor are involve they are buyers and sellers
The profit is anticipated
Standard of living
The amount of goods or services purchased by an individual
Quantity of life: - General well being of a society in terms of freedom, clean environment, health care safety free time that leads to satisfaction.
Organization
Profit organization
Non – profit organization
Non – profit organization- organization whose goods do not include making profit for each owner. These organizations do not strive for making profit in case if these organizations profit again is invested welfare of the society.
Profit: - π = TR-TC (total revenue- total cost)…show more content…
Under this competition individual sets the price. Through this tactics such as advertising, branding and packaging sellers try to convince buyers that their products are different of competition. The fast food industry is an example of monopolistic competition. Oligopoly market: - a form of competition where the market is dominated by a just a few sellers. Generally oligopoly exists in industries that produces such as breakfast, cereal, bear, automobile, soft drinks, aluminium and aircraft. One reason some industry remain in the hands of a few seller is that the investment to enter an oligopolistic industry is usually tremendous. Key economic indicator Gross domestic product (GDP) The unemployment rate The price index GDP: - the totle value of goods and services produced in a country in a given year is called GDP. Unemployment rate: - it refers to the number of civilizens who are unemployed and tried to find a job within the prior of four weeks. Types of unemployment Frictional unemployment Structural unemployment Cyclical unemployment Seasonal unemployment Frictional unemployment: - it refers to those people who have quit job because of they did not like the job. Structural unemployment: - it refers to the unemployment caused by the restructuring of firms
Under this competition individual sets the price. Through this tactics such as advertising, branding and packaging sellers try to convince buyers that their products are different of competition. The fast food industry is an example of monopolistic competition. Oligopoly market: - a form of competition where the market is dominated by a just a few sellers. Generally oligopoly exists in industries that produces such as breakfast, cereal, bear, automobile, soft drinks, aluminium and aircraft. One reason some industry remain in the hands of a few seller is that the investment to enter an oligopolistic industry is usually tremendous. Key economic indicator Gross domestic product (GDP) The unemployment rate The price index GDP: - the totle value of goods and services produced in a country in a given year is called GDP. Unemployment rate: - it refers to the number of civilizens who are unemployed and tried to find a job within the prior of four weeks. Types of unemployment Frictional unemployment Structural unemployment Cyclical unemployment Seasonal unemployment Frictional unemployment: - it refers to those people who have quit job because of they did not like the job. Structural unemployment: - it refers to the unemployment caused by the restructuring of firms
Related
- Better Essays
Applied Strategic Management a Strategic Analysis of Canon
- 3368 Words
- 14 Pages
Management A Strategic Analysis of Canon word count : Executive Summary Canon has around 77 years of history and it is full of ups and downs, highs and lows, for which it is what we would expect in such a high innovative company. Over the years, Canon has been introducing various types of products over the years and gradually became the leader in imaging markets. When people think of buying a camera, first brand pops out in their head is “CANON”.
- 3368 Words
- 14 Pages
Better Essays