Unit 3: Chapter 14

In business, competition is very common. Businesses that offer similar products or services will naturally generate competition. Competition is often beneficial to the customer, as businesses will lower their prices in order to win over customers. Customers will usually buy from the cheapest source, as long as the quality is similar. This will often create […]

Unit 3: Chapter 13

Competition is present in almost every business. Competitors are other businesses, often with similar products or services, which are trying to acquire customers from your market. Competition between businesses is what pushes them to innovate, as to not lose business. Going into a market with lots of competition can be very difficult, as customers will […]

Unit 3: Chapter 12

At the most basic level, a business exists to supply services or products to meet customer demand. Supply is the number of products or services a business is able (or willing) to sell to customers. Demand is the number of goods and services a customer is willing to buy, and at what price. Supply and […]

Unit 3: Chapter 11

Economics is a word that is used a lot in business, but what does it really mean? Simply speaking, economics is the transfer of goods, services, and money. Economics is a part of mathematics, as it’s measured with numbers. As with most things in business, people are a very important factor. There are many factors […]

Unit 1: Chapter 1

A large part of being an entrepreneur is recognizing a problem that many people face, and identifying a marketable solution. This is most often an issue one faces in their personal life, such as how Gary Rayner founded LifeProof due to him wanting a phone which was durable but also still small and portable. Once […]

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