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Assignment 1: The Business Environment 1
Assignment 1: The Business Environment
Stanley G. Castleberry
Dr. Victor H.P. Villarreal, PhD.
BUS 100, Introduction to Business
November 4, 2012
Assignment 1: The Business Environment 2
1. Describe the role of business in the economy.
The business is the economic system which provides services and goods which are profit
driven. The possibility for profit is powerful enough incentive to start and grow a company or
personal online company. Businesses of an economy are the growth engines of success.
Businesses create wealth for owners but also create benefit improvements of its workers,
customers, stockholders, and shareholders. Businesses create new products and services which
provide new businesses and customers more convenient opportunities to improve their standards
of convenience and lives. Businesses Climates improve the standard of livings and contribute a
higher quality of lives worldwide. Businesses provide jobs for individuals to enjoy goods and
services provided by businesses throughout the market place. Businesses also support charities
and organization to give back to the community. Business gives taxes that are spent by
governments for the well being of the society. This is known as a full market economy.
2. Compare and contrast the roles of for-profit and non-profit organizations in the economy.
Similarities for a for profit and non for profit businesses are they hold assets, transactions are
made in the business name instead of individuals, they both need to generate funds, provide
services or goods for use by their consumers, the business is managed by people employed to
look out for the business, have a board of directors with fixed terms. For profits also distribute
profits...