Explain the purpose of marginal cost analysis.

Explain the purpose of marginal cost analysis. It accounts for the increase and decrease cost of production which helps a company see how much they...

How might a business increase its profitability?

How might a business increase its profitability? They could develop new products or expand there availability or increase productivity increase efficiency...

What are some examples of capital?

What are some examples of capital? Electronics such as a camera for film crew. Tools such as construction tool or restaurant utensils. Software such...

What do you need to start a successful business?

What do you need to start a successful business? Give me an example for each category of the factors of production. You need the intelligence, Imagination,...

What market structure is most visible in our daily lives and why?

What market structure is most visible in our daily lives and why? Monopolistic competition because businesses are trying to make more and more money...

When might a monopoly be acceptable, even desirable?

When might a monopoly be acceptable, even desirable? It would be accepted if someone was in need of higher money income or if they wanted high profits...

What do you think is the best form of business organization and why? Can you give me a local example?

What do you think is the best form of business organization and why? Can you give me a local example? Sole Proprietorship because it's the most popular...

How has entrepreneurship helped shape American society? Give a specific example.

How has entrepreneurship helped shape American society? Give a specific example. It pushes innovation, if you're more inventive or have a good business...

How do contingency plans work?

How do contingency plans work? A set of plans that ensures that an organization will run as smoothly as possible during an unexpected disruption. Details...

Difference and similarities between general partnership and limited partnership?

Difference and similarities between general partnership and limited partnership? General - Default arrangement for a partnership and is, therefore,...

Explain the difference between a charity and a social enterprise.

Explain the difference between a charity and a social enterprise. Social enterprise is a business with mainly social benefits, in other words they...

Explain what is meant by the term "triple bottom line".

Explain what is meant by the term "triple bottom line". The term triple bottom line means the 3 objectives of social enterprise which are economic,...

What is meant by the term 'social enterprise'?

What is meant by the term 'social enterprise'? Social enterprise simply means business activity's main focus is on benefiting the society rather than...

Explain the concept of opportunity cost and give 3 examples of it.

Explain the concept of opportunity cost and give 3 examples of it. Opportunity cost means the second best choice that is given up. This is due to...

Using an example of a small business/recently established new business, explain how its owners overcame the three challenges - New businesses, Economic growth and Innovation.

Using an example of a small business/recently established new business, explain how its owners overcame the three challenges - New businesses, Economic...

List 3 benefits of entrepreneurship to the economy of your country and explain why they are important.

List 3 benefits of entrepreneurship to the economy of your country and explain why they are important. New businesses: New businesses create jobs...

Explain why there are so many new business enterprises in the tertiary sector of industry, such as hairdressing and car servicing.

Explain why there are so many new business enterprises in the tertiary sector of industry, such as hairdressing and car servicing. Tertiary sector...

What do you understand by the term "entrepreneur"?

What do you understand by the term "entrepreneur"? Entrepreneur means someone who takes risks of starting a new business. They can take risks by opening...

Explain how a supermarket could add value to the food and other stock it buys in.

Explain how a supermarket could add value to the food and other stock it buys in. Supermarket could add value to their products by placing of the...

A new business selling computer software has just opened in your town. Explain 3 needs that this business will have if it is to be successful.

A new business selling computer software has just opened in your town. Explain 3 needs that this business will have if it is to be successful. Location: The...