BUS 1000 Lecture Notes - Lecture 11: Multinational Corporation, Triple Bottom Line, Gross National Income

• School: University of Denver
• Department: Business Core
• Course: BUS 1000
• Professor: Haag Stephen

Document Summary

Economics: a science concerned with the process or system in which goods and services are produced, sold, or bought. Systems: integrated parts of a whole that work together to make a greater whole. Market socialism: takes elements from both: economic decision making: combination of government and business. Starbucks coffee in china: free market cooperatives: means of production are run as cooperative free market environment, ex: china socialist market economy, germany social economy. Supply: goods/services (curve-positive sloping line: goods/services being or already produced, goods/services intended to be sold, at a predetermined/set price, suppliers want to produce more goods/service at a higher predetermined price. Demand: how much is desired (curve-negative sloping line: consumers buy more when products/services are cheaper, buyers want to buy more goods/services at a lower predetermined price. Price: economic value (vertical axis: amount/quantity of payment, seller price how much good/service will sell for, buyer price how much good/service will be bought for.