Private Politics and Social Pressure
The success of private politics is independent of public support.
Page reference: 74
Learning Outcome: Describe the components of the managem
Financial Markets and Their Regulation
Savings and investments do not involve risks.
Page reference: 291
Learning Outcome: Identify the fundamental concepts and issues of inter
Chapter Twenty One:
Ethics Systems: Utilitarianism
Ethics is an important foundation for the positive analysis of nonmarket issues.
Page reference: 594
Learning Outcomes: Discuss the role of et
The Political Economy of India
India is a union of states with a parliamentary system of government and a federal
Page reference: 502
Learning Outcome: Identify the
Environmental Management and Sustainability
Population growth and economic growth are the two most important factors
contributing to the increase in greenhouse gas emissions.
Page reference: 322
Behavioral Ethics, Individuals, and Management
Behavioral ethics approaches moral issues through fundamental moral principles
such as Kants categorical imperative and the utilitarian principle of maximizing
Regulation: Law, Economics, and Politics
When there are market imperfections, government intervention could improve its
Page reference: 264
Learning Outcome: Identify t
Nonmarket Analysis for Business
The actions of pluralistic interests concerned with a nonmarket issue compete in
the arenas of private institutions.
Page reference: 132
The News Media and Nonmarket Issues
The media has a responsibility to report the world as it sees fit.
Page reference: 52
Learning Outcomes: Describe communication skills and th
Corporate Social Responsibility
Formulating integrated strategies requires consideration of the market and
nonmarket environments as well as attention to moral concerns and social
Nonmarket Strategies for Government Arenas
Strategy formulation in the nonmarket environment is similar to its counterpart in
the market environment.
Page reference: 162
Due to the minimal damage of crises on a firms operating performance and
reputation, the management of a firm sdoes not need to react to a crisis with a
sense of urgency.
Antitrust: Economics, Law, and Politics
True and False Questions:
Antitrust law includes only statutes and not the court decisions interpreting those
Page reference: 230
Learning Outcome: Id
The principles of nonmarket strategy for operating in democracies cannot simply
be transported to emerging markets, particularly for countries that are not
democratic and where the rule of law i
Implementing Nonmarket Strategies in Government
Media and public attention are high-profile strategies and play an important role
in nonmarket issues.
Page reference: 195
Chapter Twenty Two:
Ethics Systems: Rights and Justice
Consequentialist ethics systems focus on the good and evaluate the good in terms
of individuals preferences for consequences.
Page reference: 622
Chapter Twenty Four:
Ethics in International Business
Interactions between nations and foreign firms are governed by the laws of the
host nation and by international law.
Page reference: 681
China: History, Culture, and Political Economy
China is not a member of the World Trade Organization, which puts it at a great
Page reference: 448
Market and Nonmarket Environments
Firms have more control over their future in their nonmarket environment than they
have in the markets in which they operate.
Page reference: 1
Chapter 11 Practices
Refer to the figure, answer question 1 to 2
1. As the economy expands from Y2 to Y3,
A) a budget surplus is created.
B) a budget deficit is created.
C) tax revenues fall.
D) government transfers rise.
2. As the
Topic A.1 - Differentiate the market of a business firm, from its nonmarket
framework of issues, interests, institutions and information.
Market component includes those interactions between firms, suppliers, and
customers that are governed b
TRUE & FALSE
Topic A.1 The Difference Between the Market and Nonmarket
1. Firms have more control over their future in their nonmarket environment than
they have in the markets in which they operate.
2. The long-run sustainabil
LESSON 2 Read Chapter 2
OUTCOME: RECOGNIZE THE TRADE-OFFS AND CHOICES THAT SCARCITY
FORCES ON SOCIETY.
2.1 Define the production possibilities curve and identify its assumptions.
2.2 Use the production possibilities curve to illustrate the con
Lesson 5 Extensions of demand and supply analysis.
Read Chapter 5 pages 110-124
5.1 Explain the role of markets, intermediaries, and prices in the price
5.2 Compare and contrast price ceiling and price floor policies.
5.3 Compare and c
LESSON 3 DEMAND AND SUPPLY
READ CHAPTER 3
3.1 Explain the law of demand
3.2 Distinguish between a change in quantity demanded and a change in demand.
3.3 Explain the law of supply.
3.4 Distinguish between a change in quantity supplied and a ch
JRSB 110 - Microeconomics
Lesson 1 Introduction to economics
OUTCOME: Understand the power of economic analysis
Read - Chapter 1
1.1 Explain the meaning of scarcity
1.2 Define economics and distinguish between microeconomics and macroeconomics
LESSON 6 - COSTS OF PRODUCTION
Chapter 7 pages 165-168
7.3 Distinguish between accounting profits
and economic profits.
8.1 Distinguish between the short run and
the long run.
8.2 Calculate the various costs for the firm in
the short run.
Lesson 4 Elasticity
Read Chapter 4
4.1Define price elasticity of demand and calculate it using two different methods.
4.2Define the three price elasticity ranges and explain their effects on total
4.3 Discuss the three factors that de
JRSB 1110 Microeconomics
REVIEW FOR MID-TERM
Part I. Multiple Choice & True/False.
1. Economics is primarily the study of:
a) Why resources are scarce
b) How to use scarce resources efficiently
c) how advertising shapes what people want
Topic A.1 Market and Non-Market Environments
Market component includes those interactions between firms, suppliers and customers that are
governed by markets and contracts.
These interactions typically involve voluntary economic transactions an