Definition
Chapter 1: Basic Economic Problem
The problem at which faces individuals, businesses, and governments of satisfying unlimited youth or ones of with limited resources
If wages increase faster than gains in productivity, the cross the cost of producing goods will.....
Increase
inflation and deflation
Inflation increases in the general level of prices.
deflation decreases in the general level of prices.
Step 1
Planing
Style 1
Leadership style
Chapter 2: Capitalism
capitalism means that economic resources are usually privately owned by individuals rather than the government
What would you do to make the competition vulnerable
Lower the prices
Leadership Style and Leadership
Leadership is the ability to influence individuals. Leadership style is the way a manager treats and directs employees
Step 2
Organize
Style 2
Tactical
Chapter 3: Demand
the quantity of a product or service that consumers are willing and able to buy at a particular price
The prices increase with
Inflation
Needs and wants
Needs are things you HAVE to have. Want is more of a desire
Step 3
Staffing
Style 3
Strategic
Chapter 4: Inflation
a sustained increase in the general level of prices.
The United States ___ is lower than China
GDP
Depression and recovery
Recovery the phase in which unemployment begins to decrease. A phase marked by a prolonged period of high unemployment.
Step 4
Leading
Style 4
Mixed
Chapter 8: Wholesale
A nail firm that assists with distribution activities between businesses
Why do nations do business with each other
Nations do business with each other to increase the rightful goods and services available to their customers
Manufacturer and Custom manufacture
Products ranging golf courses to dentures are specifically developed to meet particular design standards. the extractor’s products or raw materials and changes them into a form that consumers can use.
Step 5
Controlling
A manager should use tactical management when??
Working with part-time or temporary employee