PEOPLE AND ECONOMIC ACTIVITIES

Question 1

NATURE OF ENTERPRISE: AIMS AND SOCIAL ROLES?

Answer 1

IS A COMMUNITY OF PEOPLE AT SERVICE OF SOCIETY. IT IS AIMED AT THE PRODUCTION OF GOODS AND SERVICES TO SATISFY PEOPLE’S NEEDS. THE MAIN ROLES ARE ECONOMICAL SOCIAL AND ENVIRONMENTAL

Question 2

THE ROLE OF PROFIT FOR THE ENTERPISE?

Answer 2

TO GENERATE REWARDS AND INCENTIVES TO THE STAKEHOLDERS

Question 3

WHAT ARE THE RESPONSIBILITIES OF MANAGEMENT IN FIRMS?

Answer 3

ECONOMIC, SOCIAL AND ENVIRONMENTAL

Question 4

CONCEPT OF ENTREPREUNERSHIP AND THE DIFFERENCES WITH MANAGEMENT:

Answer 4

ENTREPRENEURSHIP IS WHEN AN INDIVIDUAL ALLOCATES PERSONAL RESOURCES INTO THE CREATION OF A NEW ORGANIZATION. MANAGEMENT IS A GROUP OF PEOPLE THAT WILL SET OBJECTIVES AND STRATEGIES TO ACHIEVE THE GOALS OF THE ORGANIZATION.

Question 5

ECONOMIC AND NON ECONOMIC GOODS

Answer 5

NON ECONOMIC GOODS ARE ALSO CALLED FREE GOODS AND THEY ARE GIFTS OR NATURE. EX: WATER, AIR, SUNLIGHT
ECONOMIC GOODS ARE SCRCE AND WE NEED TO PAY FOR THEM

Question 6

WHAT ARE THE CLASSES OF ECONOMIC GOODS?

Answer 6

DISPOSABLE
SUBSTITUTE
COMPLEMENTARY
PRIVATE
PUBLIC
COMMODITY
DIFFERENTIABLE

Question 7

WHAT ARE THE ADVANTAGES OF SPECIALIZATION?

Answer 7

HIGH EFFICIENCY, LESS EFFORT AND HIGH QUALITY RESULTS