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Answer the questions below and upload your completed assignment to this folder by the due date.
Are profits necessarily money? Why or why not? Do not confuse the definition of accounting profits with economic profits, there is a difference.
In your own words, explain how shortages affect prices. Don’t forget to look this up to form your opinion.
In your own words, explain what is meant by the Invisible Hand. Also, research is needed here.
Find a company that has had to drastically change the way they do business in the last ten years. What did they do and why?
How can businesses compete with online competition that doesnt have to pay for brick and mortar locations? Provide more than one example.