Business Management

1. Why studey business? ·Learn what it takes to run a business · prove business vocabulary ·Develop workplace skills ·learn ab show up course jobs ·Appreciate todays business c arer 2. What is a Business? A business is a legal entity that is set-up or designed to discharge goods, sell goods, or provide a service. Many businesses are for ·Profit organizations in the adept that businesses in this region are money motive with efficient social responsibilty. ·Non- pull ahead organizations in the sense that businesses in this region are for social service (non - profit organisation e.g Voluntary jobs the likes of Unicef) State rules: Control how a business entity can be started and structured. Federal rules: Control how a business entity will be required to pay national income taxes. 3. Categories of business are divided into 2 which are; · metropolis Intensive: Which deals with production of goods. ·Labout Intensive: Which deals with providing services. 4. Why is the Service celestial sphere growing? ·It changes demographics and lifestyle ·It dispose more income ·It deals with complex good and technologies ·The quite a little always need professional advice ·And it has low barries to entry 5. What is an economic administration?

An economic system can be defined as an organized way in which a state or nation allocates its resources and apportions goods and services in the national community. Some putting surface economic systems are Types of Economic system Free market sytem: is an idealized cast of a market economy where buyers and sellers are allowed to carry out transaction freely based on a coarse agreement on price without state intervention in the form of taxes or subsidies regulations. Planned system: This is more like a dictatorship system where the government decided on what, how and for whom to produce. Examples of Free market system: ·Capitalism: This an economic and semipolitical system in which a countrys patronage and industry are controlled by private owners for profit, rather than by the state.... If you want to get a full essay, order it on our website: Orderessay

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