The document describes the Marketplace Live simulation, which allows participants to manage a simulated business. It discusses how participants are placed on business teams with different functional roles and must make strategic and tactical decisions each quarter. These decisions are input into the simulation along with competitors' decisions, and results are fed back. The goal is for participants to learn about all aspects of business management through running their simulated company. Key details provided include the initial capitalization, sources of funding, consequences of financial decisions, and performance evaluation using a balanced scorecard.