These are short answer questions. Just a one to two paragraph very succinct answer on each. Not pages!!;2. You have the choice of opening your own business or being employed by someone else in a similar type of business. List 4 considerations in terms of opportunity costs that you would have to consider before arriving at your decision? Briefly discuss.;3. As the CEO of a corporation it is important for you to understand the mechanics of supply and demand both in the short run and the long run. Give 3 examples of a company whose business was either helped or hurt because of supply or demand in the marketplace where they were competing?;4. The craft unions (electricians, carpenters) possess considerable power to raise wages than do industrial unions (automotive workers, steel workers, etc.) How would you explain this in terms of demand elasticity?;5. You have been asked to produce a forecast for your company?s new product (bottled water). List and briefly discuss 4 factors you would consider before giving the forecast?;6. As CEO you decide you should take advantage of ?economies of scale? by increasing your output, thereby spreading out your overhead costs. Do you agree with the CEO? Briefly explain the + and ? of this statement?
Paper#29442 | Written in 18-Jul-2015Price : $27