QUESTION 1 In 10-15 sentences, describe how each of the major concepts are critical to: (a) understanding the nature of business competition; (b) understanding the market opportunity; (c) evaluating t

QUESTION 1

In 10-15 sentences, describe how each of the major concepts are critical to: (a) understanding the nature of business competition; (b) understanding the market opportunity; (c) evaluating the risk of conducting business. Chapter 2 major concepts are: business cycles, capitalism, command economies, communism, demand, economics, free-market economies, monopolistic competition, monopoly, oligopoly, perfect competition, socialism. You must answer the question using all of the major concepts and explaining the role of each in answering the question. Don’t just list the terms; explain them as it relates specifically to the question you are answering.

QUESTION 2

In 10-15 sentences, describe what a multinational corporation is. Then explain how each of the major concepts are critical in: (a) choosing what markets to operate in, (b) deciding how to conduct business. Chapter 3 major concepts are: absolute advantage, comparative advantage theory, exchange rate, free trade, multinational corporation. You must answer the question using all of the major concepts and explaining the role of each in answering the question. Don’t just list the terms; explain them as it relates specifically to the question you are answering.

QUESTION 3

In 10-15 sentences, select a multinational company and explain how each of the major concepts are critical for that company to be a world-class organization. Chapter 4 major concepts are: corporate responsibility, corporate social responsibility, ethics, social audit. You must answer the question using all of the major concepts and explaining the role of each in answering the question. Don’t just list the terms; explain them as it relates specifically to the question you are answering.

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