7.08 marketing

1. For this assignment, choose a type of company that you could imagine yourself starting. Describe the type of company. (1-4 sentences. 1.0 points)

2. Describe at least two sources you would use for funding your company. (1-2 sentences. 2.0 points)

3. Would you rather fund your company using mostly debt funding, or mostly equity funding? Why? (1-5 sentences. 3.0 points)

4. Make a list of at least 3 startup costs this company would have. (Complete sentences are not necessary. 3.0 points)

5. Will your company use cash-basis or accrual-basis accounting? Explain why. (1-3 sentences. 2.0 points)

6. Will you use single-entry bookkeeping or double-entry bookkeeping? Explain why. (1-3 sentences. 3.0 points)

7. List at least 3 risks your company will face, and explain how you will manage those risks. (1-6 sentences. 6.0 points)

2.05

1. What is scarcity? (1.0 points)

2. What is an economy? (1.0 points)

3. What is a commodity? (1.0 points)

4. What is a producer? (0.5 points)

5. What is a consumer? (0.5 points)

6. What is a good? (0.5 points)

7. What is a service? (0.5 points)

Lesson 2 (5.0 points)

1. What is the difference between the public sector and the private sector? (1.0 points)

2. What is a market economy regulated by? (1.0 points)

3. What is a planned economy regulated by? (1.0 points)

4. What is an entrepreneur? (1.0 points)

5. What is nonprice competition? (1.0 points)

Lesson 3 (5.0 points)

1. What are the factors of production? (1.0 points)

2. What does the Law of Supply say? (1.0 points)

3. What is the Law of Demand? (1.0 points)

4. If supply increases, what is likely to happen to the price? (0.5 points)

5. If demand increases, what is likely to happen to the price? (0.5 points)

6. What is elastic demand? (0.5 points)

7. What is inelastic demand? (0.5 points)