Chapter 1 an introduction to business and economics3
•
0 likes•169 views
This document provides an overview of key concepts from Chapter 1 of an introduction to business and economics course. It defines business as the organized effort of individuals to produce and sell goods and services for profit in order to satisfy society's needs. It describes the four types of resources that a business must effectively combine - human, material, financial, and information. It also defines economics and describes the two main types of economic systems - capitalism and command economy. It outlines several ways to measure economic performance, including GDP, unemployment, and inflation rates. Finally, it identifies the four types of market competition - perfect competition, monopolistic competition, oligopoly, and monopoly.
