Questions 1
Subject:BusinessPrice: Bought3
Questions
1. Discuss one of the four types of scarce resources and how you would use that resource most effectively.
2. How do the laws of supply and demand affect ongoing business, and what policy or system could you use to help? Please give one example of an effect of supply or demand and then describe how you would manage the situation. Please be detailed and specific with a tangible example.
3. Describe one type of systematic risk and one type of unsystematic risk and then explain how a business would create a plan to address the risk.
4. What is the difference between strategic planning and functional planning and describe specific situational uses for each type of planning.
5. Describe one of the types of business organization and what circumstances would make it the best organization to use.
6. Name a specific benefit to writing a business plan when creating a new business? Explain your answer.
