Making the Transitionfrom
If you’re switching fromRicky Griffin and RonEbert’s hardcover eighth edi-tion of
to this edi-tion of
,you’ll find some of the extracontent you’re used to seeingin
Chapter 1: The U.S. Business Environment
| Business Essentials 3
In this section, usePowerPoint 1-1,1-2, 1-3.
Many students come to an introduction to business class not quite surewhat’s in it for them,but the course has something for everyone,fromthose who have been in the business world a while to those just gettingstarted.As this book unfolds,you’ll develop an understanding of thefoundations of business,and you’ll be able to apply what you alreadyknow (or what you are starting to learn) about business to many parts ofthe course.This first chapter dives right into the world of business,explaining justwhat business is,what its main goals and functions are,and how theexternal environments of business affect the success and failure of anyorganization.The chapter also describes global economic systemsaccording to the means by which they control the factors ofproduction,shows how markets,demand,and supply affect resource distribution inthe United States,and discusses the elements of private enterprise andthe degrees of competition in the U.S.economic system.Finally,thechapter explains the importance of the economic environment to busi-ness and identifies the factors used to evaluate the performance of aneconomic system.