What is Business Success?
The Profit Equation: Profit = Selling Price - Cost of Goods Sold - Expenses
Economies of Scale: the more products you can make using the same factory, the cheaper each
Term Test 3, March 4 2005 Answers to Part II questions.
6. d 7. b 8. a 9. a 10. d
11. a 25 b 22.5 c 0 d 1/2 Notes: Recall the capital stock evolves according to K t1 - K t sFK, N - K a. In SS, K t1 K t . For this problem, 0. 1, and FK, N 5 KN , so SS for
BBI2O: Introduction to Business
Chapter 5: What Makes a Business Successful?
Why Do Businesses Fail?
Why should we look at business failure? At some point in your life , you will own, work
for, invest in, or depend upon one or more of these businesses. Al
PROBLEM SET FOR CH 13 Suggested Solutions January 13, 2005
1. See textbook and lecture notes. 2 BJM Q 13.1 a. True. Most economic historians attribute a good part of the blame for Britain's recession in the second half of the 1920s to Churchill's decision
Image: the way the consumer sees the business or thinks about the
products that the business makes or sells.
Three parts of an Image:
Brand Name: a word or group of words that a business uses to
distinguish its products from competit
Chapter 1 Understanding Business
E-activity: Not-for-profit Organizations
Activity: Compare three not-for-profit organizations in Canada
Money, Money, Money. Profit has always been one incentive of starting your own
business.Why, then, do organizations
Derivation of Okun's Law:
Assume that the production function takes the form Yt AtNt
Alternatively, and even better for our purposes, just define labour productivity (output per worker) as A t Y t /N t .
Define growth rates of output, productivity, and th
Factors Affecting Business Success
Business success is never a matter of luck or accident. Success depends on several things
including personal factors:
Use the five factors for business success to rate your business p
PROBLEM SET FOR CH 14 Suggested Solutions January 13, 2005 1. See textbook and lecture notes. 2. BJM Q14.1 a. True. It's a bit hard to tell from Fig 14-1, but Canadian Real GDP was higher in 1940 than in 1926. Real GDP peaked in 1928 and did not surpass t