Bus101 Exam 3 Reveiw

Bus101 Exam 3 Reveiw - Hale Scheckelhoff Bus 101 Exam 3...

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Hale Scheckelhoff Bus 101 Exam 3 Review 1) Capitalism (around production) Mercantilism (around trade) a) Rational maximization (get as much as possible for oneself) b) Nationalization-control taken over private financial institutions c) US has a managed economy not free market d) 2 types of economic systems d.i)Free market (capitalism) d.ii) Planned economy or command economy e) Basis of capitalism is individualism* f) Real capitalism f.i) Owner class-few hold productions (capitalists) f.ii)Working class (laborers)-product goods with no ownership f.iii) Rational calculation for profit-judge market and adjust for highest possible profit g) Capitalism Terms Private Enterprise System g.i)Finance capitalism-the product is money not goods (stocks or bonds) g.ii) Marxist Economics-public owner for public good g.iii) Mixed economy- capitalism + planned g.iv) Pure capitalism-no government interference (all private ownership) g.v) State capitalism-production is privately owned, but state controls market 2) Acquiring financial capital a) Information before loan a.i) Profit you make (a.i.1) Income statement= sales – expenses= profits a.ii) How much cash (a.ii.1)
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This note was uploaded on 01/23/2012 for the course BUS 101 taught by Professor Rollins during the Fall '08 term at Miami University.

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Bus101 Exam 3 Reveiw - Hale Scheckelhoff Bus 101 Exam 3...

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