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Unformatted text preview: funds. Information Technology- involves planning for, building, maintaining, and managing a companys hardware/software, network, databases, information security 4. What is economics? The study of how scarce resources are used to produce outputs (goods and services) to be distributed among people 5. Factors of production Owners, labor, land, capital 6. Understand the difference among 4 types of competition Perfect Competition- Many sellers with standardized products Monopolistic- many sellers with differentiated products Oligopoly- Two sellers with a similar product (collude and raise prices) Monopoly- 1 seller 7. What are used to measure economics goals? Growth- Gross Domestic Product High Employment- Unemployment rate Price Stability- Consumer Price Index...
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This note was uploaded on 04/18/2011 for the course BUSINESS 100 taught by Professor Betker during the Spring '08 term at Saint Louis.
- Spring '08