Mid-Term Study Guide

Mid-Term Study Guide - The mid-term will consist of 40 m/c...

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The mid-term will consist of 40 m/c questions worth 3 points each and 2 essay questions worth 10 points each. TCO 1 Given a description of a typical business, demonstrate how that business acts within our economic system to achieve its goals as well as those of society, along with an understanding of how the future may impact these goals. TCO Chapter Weeks 1 1,2 1 1. Know how government regulation affects the economy. 2. Show the relationship of supply and demand as illustrated on supply and demand curves. 3. Define elements of productivity and how it can be increased. 4. Define “quality of life”. 5. Know the similarities and differences between for profit and not for profit organizations. 6. Know the role of the U.S. Federal Reserve and what tools they use to implement their policies 7. Know what is a free market economy and its relationship to the distribution of wealth. 8. Define a socialistic economic system. 9.
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This note was uploaded on 12/08/2009 for the course BUSN BUSN1115 taught by Professor Forgot during the Spring '08 term at DeVry Chicago.

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Mid-Term Study Guide - The mid-term will consist of 40 m/c...

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