Concept explainers
1)
To determine: The way demand and supply affect the business.
Introduction:
A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.
2)
To determine: The essential factors of production.
Introduction:
A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.
3)
To determine: The way fluctuations in economic indicator affect the business.
Introduction:
A business is an economic system whether the goods or services are exchanged for money. Production, buying of raw materials and selling of finished goods are the works related to the business. Business is the thing which improves the people’s standard of living.
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Business Esentials, Student Value Edition Plus 2017 MyLab Intro to Business with Pearson eText -- Access Card Package (11th Edition)