Macroeconomics - Concentrates on the operation of a nations economy as a whole.
Microeconomics - Concentrates on the behavior of people and organizations in markets for
particular products or services.
Resource Development - The study of how to increase r
Revenue - The total amount of money a business takes in during a given period by selling goods and
Profit - The amount of money a business earns above and beyond what it spends for salaries and other
Outsourcing - Contracting with othe
1. Why would a firm build factory #5 in another country?
The cost and labor in another country are cheaper than in the U.S, so the firm would have more profits.
They compare labor cost, tax policy, and GREGS here vs. there.
2. Why would a firm build facto
Management: The process used to accomplish organizational goals through planning,
organizing, leading and controlling people and other organizational resources. Vision: More
than a goal, its a broad explanation of why the organization exists and where its