COMMERCE 1E03 Chapter 2: Chapter 2 - How Economic Issues Affect Business
9 Feb 2012
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Chapter 2 how economic issues affect business. A major part of business success is due to an economic and social climate that allows businesses to operate freely. Economics: the study of how society chooses to employ resources to produce goods and services and distribute them for consumption among various competing groups and individuals. Ballard power systems working with auto manufacturers to develop the next generation of efficient and clean engines for buses, automobiles and trucks. Macroeconomics: the part of economic study that looks at the operation of a nation s economy as a whole. Microeconomics: the part of economic study that looks at the behavior of people and organizations in particular markets. Resource development: the study of how to increase resources and the creation of the conditions that will make better use of those resources (e. g. recycling) Mariculture: the farming of aquatic plants and animals in land based tanks and ponds or in sea cages)
