Page 5 - Bus101FlipBook

CONTENTS
INTRODUCTION

I. THE BASICS — A REVIEW

Chapter 1 Business and Economic Environments

Chapter Overview (2) — The Free Market and Private Enterprise System (3) — Entrepreneurs: their role and reward
(4) — The Functions of the Private Enterprise System (4) — Foundational Rights for the Private Enterprise to
function( 4) — Freedom of Choice (5) — Profits (5) — Competition (5) — Factors of Production (5) — Land (Natural
Resources) (6) — Labor (6) — Capital (6) — Management (Entrepreneurship) (6) — Levels of Productivity (7) —
Primary production (7) — Secondary production (7) Tertiary production (7) — Measuring Productivity in the U.S.
Economic System (7) — Competition defined (9) — Pure Competition (9) — Monopolistic Competition (10) —
Oligopoly (10) — Monopoly (10) An Economic History of the United States (11) — In the Beginning: Colonial
Society (11) — Now we’re moving: The Industrial Revolution (11) — Transcontinental Railroad (12) — Opportunity
Knocks: The Age of the Entrepreneur (13) — Consumers Need More: The Production Era (14) — Pent-up Demand
needs Mass Marketing (14) — The Current Business Environment (14) — Alternative Economic Systems (15) —
Planned economy—Communism (15) — Planned economy—Socialism (16) — Socialism Didn’t Work for the
Pilgrims Either (17) — A bit more government intrusion— Mixed Economies (18) — A Comparative Note (19) —
CONCLUDING THOUGHTS (19) — Summary of Learning Goals(20) — Questions for Review and Discussion (21)

Chapter 2 Economics—A Primer
Chapter Overview (2) — In the beginning: Economics, a foundation for business (2) — Macroeconomics (3) — Cost-
push inflation (4) — Demand-pull inflation (4) — Deflation, (4) — Unemployment Under Macroeconomics (5) —
Monetary and Fiscal Policy (6) — Microeconomics (6) — The Demand Curve (7) — The Supply Curve (7) — The
Equilibrium Price (8) — Changes in Demand versus Changes in Quantity Demanded (8) — Changes in Supply versus
Changes in Quantity Supplied ( 9) — Current Economic Challenges (10) — The National Debt (11) — The Federal
Deficit influences the Interest Rate you pay (12) — A Strong Dollar and Growing Trade (12) — Challenges for the
Work Force (13) — Improving Customer Service (14) — Improving Product Quality (15) — Increasing Productivity
(16) — Improving U.S. Productivity (16) — Retraining & Improving Job Skills (17) — Changing Technology (18) —
Managing for Long Term Success (18) —Summary of Learning Goals (19)—Questions for Review and Discussion (2)

Chapter 3 Forms of Business Ownership
Chapter Overview (2) — Business Starts at Home (2)— Hanna York, Kentucky (2) — William Kellum, Georgia (3) —
General Thoughts (3)— Starting a Business (4) — Sole Proprietorships (5) — Advantages of Sole Proprietorships (5)
— Disadvantages of Sole Proprietorships (5) — Partnerships (6) — Advantages of Partnerships (7) — Disadvantages
of Partnerships (7) — Corporations (8) — Advantages of Corporations (8) — Disadvantages of Corporations (9) —
Starting a Corporation (10) — Classifying Corporations (10) — Incorporating the Business (11) — Stockholders (11)
— Board of Directors (11) — Management (12) — Mergers and Acquisitions (12) — Types of Mergers (13) —
Friendly and Unfriendly Takeovers (14) — Merger Alternatives (16) — Divestiture (16) — leveraged buyout (LBO)
(16) — Employee Ownership Utilizing the Employee Stock Ownership Plan (16) — Subsidiary Corporations (17) —
Public and Cooperative Ownership (17) — Public Ownership (17) — The Trend toward Privatization (17) —
Cooperatives (17) — Syndicates (18) — Limited Liability Company (18) — Summary of Limited Liability Company
Advantages (19) — Limited Liability(19) — Flexible Profit Distribution (20) — Flow Through Taxation (20) —
Investors Can Manage (20) — Unlimited Membership (20) — Ease of Organizing (20) — Disadvantages of a Limited
Liability Company (20) — Limited Life(20) — Financial limitations (20) — Transferability(20) — Reporting
Complexity (20) — Summary of Learning Goals (21) — Questions for Review and Discussion (22)

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