当代商业概论总结.docxVIP

Chapter 1Define business and profitsBusiness-----An organization that provides goods or services to earn profitsProfits: The positive difference between a business’s revenues and its expensesrewards for businesspeople who take the risks2. Distinguish between business and not-for-profit organizationsBusiness consists of all profit-seeking activities and enterprises that provide goods and services necessary to an economic system. [ent?pra?z]事业，项目 Not-for-profit organizations are business like establishments (机构;团体;企业) that have primary objectives other than returning profits to their owners. It operates in both public service and private sector (部门，行业，领域).3. Identify the factors of production. Labor, capital, entrepreneurs ([??ntr?pr?n?:(r)]企业家), physical resources, information resources.4. Global economic systemsPlanned economy, market economy and mixed economiesPlanned Economy：An economic system in which the government owns and operates all sources of productionMarket Economy：An economic system in which buyers and sellers interact ([??nt?r?kt]相互作用；互相影响)based on freedom of choiceMixed Economies: Planned and MarketThe economies of most countries include both planned and market elements.Explain the factors that drive demand and supply.(1)Factors Driving Demand1)Price2)Customer preferences and income3)Prices of substitute ([s?bst?tju:t]替代的)and complementary （[?k?mpl??mentri]互补的）items4)Number of buyers in the market 5)Consumers’ optimism about the future.（2）Factors Driving Supplyfactors of production (Central role in determining the overall supply of goods and services is played by factors of production.)Other factors like taxes and the number of suppliers will also influence the supply.Describe each of the four different types of market structures in a private enterprise system.Perfect competition，monopolistic [m??n?p??listik] competition(垄断性竞争)，oligopoly( [??l?g?p?l?]寡头,求过于供的市场情况) and monopoly ( [m?n?p?l?]垄断)Perfect competition exists when all firms in an industry a