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  1. Describe the roles profit motive and competition play in the free enterprise system.
-The roles profit motive play in the free enterprise system is to show how much profit should be gained in a certain amount of time. Competition plays a role in the free enterprise system by giving the consumers the power to choose the product they want out of different product.
2. Explain the impact of price and nonprice competition on business
- A non price competition is a system when firms distinguish themselves from their competition through factors other than pricing such as,   location, ambiance, quality etc. Pricing competition deals with firms offering lower prices to beat competition and create a competitive edge.
3. Identify the difference between wants and needs
- Need is something that you have to have to go about your everyday life, where as a want is something that you don’t HAVE to have.
4. Evaluate the relationship between cost and profit and supply and demand.
5. Choose a product that you use frequently. Identify two or three different places where you can purchase this product. Create a box chart or Venn diagram to compare and contrast the price, availability, convenience, and customer service offered at each location. Then, use your chart to write a three-paragraph essay comparing and contrasting the stores. Explain which retailer does the best job at competing for your business and why.
- You can purchase eyeliner at the beauty supply store or Wal-Greens.                      

Complete Section 1.2 Review pg. 24 #1-5 W
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1. List the five components of the new venture creation process.
The five components that work together   of the new venture creation process are the entrepreneur, the environment, the opportunity, start-up resources, and the new venture organization
2. Describe how an enterprise zone encourages new businesses....

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  • Submitted by: JusteenaPierre1
  • on November 18, 2013
  • Category: Science And Technology
  • Length: 440 words
  • Views: 231
  • Popularity Rank: 331230
  • 1 rating(s)

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