PPT - Ebert Chapter 1

PPT - Ebert Chapter 1 - The U.S. Business Environment...

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4/8/10 The U.S. Business
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How high will you go?
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What Will We Pay? 0 2 4 6 8 10 12
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Source: http://www.randomuseless.info/gasprice/gasprice.html Gas Price History How did the rising prices of 2007-08 affect you?
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What was different about 2008 and past gas crises? PAST: Prices went up when supply was reduced. 2008: Supply increasing. .. Complicated mix of global supply and demand issues.
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What’s been going on? Global supplies of gas increasing substantially. U.S. refiners producing less gas here since 1972. Why? U.S. now more dependent on foreign oil. U.S. demand for gasoline continues to grow.
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We keep using more and more gas in the U.S. Why? population growth love our big cars plastics and other petrol- based products
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The other problem. ..we aren’t the only country in the world wanting oil. global population growth increasing demand (China now #2) lots of countries have improved economies more countries moving to free- market systems war and unrest
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MIDDLE EAST GOVERNMENTS HAVE THE OIL OPEC (Organization of the Petroleum Exporting Countries) NOT PRIVATE BUSINESS THEY DON’T COMPETE – THEY COLLUDE
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SO, WHAT WAS THE RESULT OF THE ü more fuel efficient vehicles ü oil companies really successful! ü gasoline thieves ü budget problems for everyone (schools) ü travel and tourism declines ü some of us had to adjust our behavior ü increased prices for oil-based products (plastic) Economics matter to business.
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4/8/10 A business is an WHAT IS A BUSINES S? PROFIT
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4/8/10 PROFI = - Revenue Expenses Why is profit important?
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PPT - Ebert Chapter 1 - The U.S. Business Environment...

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