1. Describe the role of business in the economy.
The role of business in the economy is to provide, products, jobs, and helps in the growth of the economy. Businesses provide a better standard of living for people. Today business is consumer friendly and as result creates a source of wealth for all around. There are two types of businesses that impact our economy, for-profit organizations and nonprofit organizations. The for=profit organizations range from the local grocer to the car dealership in our community and we all need them.
2. Compare and contrast the roles of for-profit and non-profit organizations in the economy.
For-profit organizations are in the business of making ...view middle of the document...
The for-profit organization can also benefit from a community due to its involvement with the nonprofit organization. Communities would use services and products from a business if they are aware of their contribution to it’s community.
3. Discuss the impact of the current fiscal and monetary policy on the economy.
The current fiscal and money policies have greatly impacted the economy. Due to the tax credits given by the previous administration, the economy was on a downturn due to the deficit created by the government. Just like any organization, a business cannot prosper if their expenses are more than the revenue. The policies of the government forced the country into an economic crisis. As a result, businesses are operating at a loss and had to let employees go, which has led to less spending.
4. Select a product or business to which you are familiar and outline a strategy for accessing global markets.
The service I have selected is global classes and tutoring for middle and high school students. I believe the world can benefit from worldwide classrooms. The students can learn French from a teacher in a classroom in France. With today’s technology, we can provide these classes through ooVoo and Skype. Chemistry, can be taught from a teacher in Germany, English can be taught by a teacher in Jamaica and Math can be taught by a teacher in...