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Economic Challenges Facing Global and Domestic Business

Distinguish between micro-economics and macroeconomics.Explain the factors that drive supply and demand.Describe the four types of market structures in a private enterprise system.Compare the three major types of economic systems.. Identify and describe the four stages of the business cycle.Explain the factors that affect the stability of a nation's economy.Discuss how monetary and fiscal policy are used to manage an economy's performance.Describe the major global economic challenges32860

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Economic Challenges Facing Global and Domestic Business

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    1. Economic Challenges Facing Global and Domestic Business

    3. Analysis of the choices people and governments make in allocating resources. Supply: Amount of goods and services for sale at different prices. Demand: Willingness and ability of consumers to purchase goods and services at different prices.

    13. Communism Property owned and shared by the community under a strong central government. Adopted in early 20th century by many nations, but government-owned monopolies often suffered from inefficiency. Socialism Government ownership and operation of major industries, such as healthcare or communications. Some private ownership of industry allowed.

    24. International Terrorism Shift to a global information economy Aging of the world’s population Growth of India and China straining commodity prices Enhancing competitiveness of every country’s workforce

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