15 Business Questions to answer each question with a few sentences. Every question should be able to find the answers online. County College of Morris I

15 Business Questions to answer each question with a few sentences. Every question should be able to find the answers online. County College of Morris

I

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to answer each question with a few sentences. Every question should be able to find the answers online.


County College of Morris

Introduction to Business 112

Chapter 1-5 Questions

Answer the following questions below in short, yet complete sentences with examples, where applicable.

1. What are two key differences between stakeholders and stockholders?

2. Define revenue, profit, and margin. How do they work in tandem?

3. What is the difference between effectiveness, efficiency, and productivity?

4. What are some major issues affecting the economy today?

5. In Adam Smith’s book, Wealth of Nations he used the phrase “invisible hand”. Does the meaning still hold true 225 years later? If so, describe a few modern day examples. If not, explain why.

6. Why does capitalism work so well in the United States? On the contrary why does socialism work so well in China and Russia, even though up until a decade ago they were more communistic?

7. Why is GDP important to a countries health? What factors contribute to a countries GDP and why are they important to keep a close eye on from an economic perspective.

8. Using the Internet, compare and contrast the Panic of 1907 to the Great Recession of 2008. What were some of the underlying causes? What preventative measures did the government take to help correct the dilemmas?

9. Why is it important for small business to keep in check with current business cycles?

10. Do you feel that monetary policy and fiscal policy should have an equal balance considering one is handled by the government and the other an independent entity?

11. Why are so many new businesses choosing a limited liability company (LLC) form of ownership?

12. Why do major “Fortune 500 corporations” re-incorporate themselves in the state of Delaware, even though their headquarters is elsewhere?

13. Why do organizations (non-profit and for profit / small and large) have a board of directors? Who is it comprised of and why?

14. Name at least 3 reasons why people are willing to takes “risks” as entrepreneurs? Provide 3 examples of small business where entrepreneurs usually start? For example, an engineer designing an app or a baker starting his or her own restaurant.

15. How do micropreneurs differ from entrepreneurs?

County College of Morris

Introduction to Business

112

Chapter 1

5

Questions

Answer

the following questions below in short, yet complete

sentences with examples

,

where applicable.

1.

What are t

wo

key differences between stakeholders and stockholders?

2.

Define revenue, profit, and margin.

How do they work in tandem?

3.

What is the difference between effectiveness, efficiency, and productivity?

4.

What are some major issues affecting the economy today?

5.

In Adam Smith’s book, Wealth of Nations he used the

phrase “invisible hand”. Does the

meaning still hold true 225 years later? If so, describe a few modern day examples. If

not, explain why.

6.

Why does capitalism work so well in the United States? On the contrary why does

socialism work so well in China

and Russia, even though up until a decade ago they were

more communistic?

7.

Why is GDP important to a countries health? What factors contribute to a countries

GDP and why are they important to keep a close eye on from an economic perspective.

8.

Using the

Internet, compare and contrast the Panic of 1907 to the Great Recession of

2008. What were some of the underlying causes? What preventative measures did the

government take to help correct the dilemmas?

9.

Why is it important for small business to keep i

n check with current business cycles?

10.

Do you feel that monetary policy and fiscal policy should have an equal balance

considering one is handled by the government and the other an independent entity?

County College of Morris

Introduction to Business 112

Chapter 1-5 Questions

Answer the following questions below in short, yet complete sentences with examples,

where applicable.

1. What are two key differences between stakeholders and stockholders?

2. Define revenue, profit, and margin. How do they work in tandem?

3. What is the difference between effectiveness, efficiency, and productivity?

4. What are some major issues affecting the economy today?

5. In Adam Smith’s book, Wealth of Nations he used the phrase “invisible hand”. Does the

meaning still hold true 225 years later? If so, describe a few modern day examples. If

not, explain why.

6. Why does capitalism work so well in the United States? On the contrary why does

socialism work so well in China and Russia, even though up until a decade ago they were

more communistic?

7. Why is GDP important to a countries health? What factors contribute to a countries

GDP and why are they important to keep a close eye on from an economic perspective.

8. Using the Internet, compare and contrast the Panic of 1907 to the Great Recession of

2008. What were some of the underlying causes? What preventative measures did the

government take to help correct the dilemmas?

9. Why is it important for small business to keep in check with current business cycles?

10.Do you feel that monetary policy and fiscal policy should have an equal balance

considering one is handled by the government and the other an independent entity?

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