The Nature of Business
Barter is...
the exchange of goods and services without the use of money
Simplest economic system
Subsistence/ Traditional Economy
Internal Stakeholders (Examples)
Owner, Employee, Employer
The system that replaced Barter
Money
The State is in full control in this economic system
Planned/ Command/ Socialist Economy
External Stakeholders are
Government, Consumers, Community members
Debit Card
Both Private and Public Sector
Mixed Economy
Incharge of the Public Sector
Government
This department hires, fires and train employees
Human Resource Department
1 man business
Sole Trader/ Sole Proprietorship
This Department advertises the products for the business
Marketing Department