1.

Inflation
Inflation is a sustained rise in the general price level or a fall in the purchasing power of money.
Consumer price index (CPI), a measure of changes in the prices of goods and services commonly purchased by
consumers.
Producer price index(PPI), a measure of changes in wholesale prices.
The impact of inflation
-Decreasing value of money
-Increasing interest rate. As prices increase,interest rates also tend to increase.
-Decreasing real returns on savings. Inflation also has a significant effect on savings. People who save at a fixed
interest rate get a lower rate of return on their savings.
Inflation has also some positive effects that include a mitigation of economic recessions, and debt relief by reducing
the real level of debt.
2. UNEMPLOYMENT!!!!!!
Unemployment- occurs when a person is available and willing to work but currently without work.
Civilian labor force is made up of people over the age of 16 who are employed or actively looking and available for
work.Doesnt including: military,prisons,schools and other institution.
Unemployment rate the percentage of the labor force that is jobless and actively looking for workDoesnt
including: underemployed, discouraged workers, and recently laid-off.
Full employment level of unemployment not caused by decreased economic activiti Caused of unemployment
Economic Inflation
Economic Recession
Welfare Payments
Changing Technology
Job Dissatisfaction
Employee Values
Racial Discrimination
Consequences of unemployment
1. Migration
2.Standard of living
3.Mental health
4. Physical health
5.Marital problems
6. Suicides
7. Violence a crime
8.Political/social issure
9.Stigma
10. Emploument gaps
3. Accounting and Bookkeeping
Accouting is the process of systematically collecting, analyzing, and reporting financial information.
Bookkeping, on the other hand, is the routine, day-to-day record keeping that is a necessary part of accounting.
Bookeepers are responsible for obtaining the financial data that the accounting system processes. Accouting system
cannot operate without good, accurate bookkeeping but a bookkeeper can generally be trained within a year or so.
4)Classification of Accountants
They are generally classified as private accountants or public accountants.
-A private accountant is an accoutant who is employed by a specific organization
-A public accoutant is an acountant whose services may be hired on a fee basis by individuals or firms
-Certified public accountant, an individual who has met state requirement for accounting education and
experience and has passed a rigorous thee-day accounting examination.



5)Management functions
Management- is the process of coordinating the resources of an organization to achive the primary goals of the
organization.
Goal setting- then is the process of developing a set of goals.
Planning-the processes involved in developing plans.
Organizing is the grouping of resources and activities to accomplish some and result in an efficient and effective
manner.
Leading- is the process of influencing people to work toward a common goal.
Motivating-is the process of providing reasons for people to work in the best interests of the organization.
Controlling- is the process of evaluating and regulating ongoing activities to ensure that goals are achieved
6) Levels of Management
-A top manager is an upper-level executive who guides and controls the overall fortunes of the
organizationCommon titles associated with top managers are president,vice president,chief executive officer, chief
operating officer
-A middle manager is a manager who implements the strategy and major policies handed down from the top level
of the organizationTitles include :division manager,department head,plant manager, operations manager.
- A lower-level manager is a manager who coordinates and supervises the activities of operating
employeesCommon titles include:office manager,supervisor,foreman.
7)Areas of management
-A financial manager is a manager whose primary responsibility is the organizations financial resources.
-An operations manager is a manager who creates and manages the systems that convert resources into goods and
services.
-A marketing manager is a manager responsible for facilitating the exchange of products between the organization
and its customer or client.
-A human resources manager is a person charged with managing the organizations formal human resources
programs.
-An administrative manager is a manager who is not associated with any specific functional area but who provides
overall administrative guidance and leadership.
8)The responsabilities of general manager
General manager- main executive in the company, devise strategies and formulate policies to ensure that these
objectives are met.
9)The skills of a succesful manager
-Communication skills
-Human skills= to manage various temperaments,to understand different typs of personality,culture
-Computer skills= to keep with fast technology change development
-Techical skills=related to the tasks performed by subordinates
-Time-management skills=to priority activities, to organize work,to delogate
10)Marketing.Marketing concept
Marketing is the process of planning and executing the conception,pricing,promotion and distribution of ideas, goods
and services to create exchanges that satisfy individual and organizational objectives
The marketing concept is a business philosophy that involves the entire organization in the process of satisfying
customers needs while achieving the organizations goals.
The firms must mobilize its marketing its marketing resources to:
-provide a product that will satisfy its customers;
-price the product at a level that is acceptable to buyers and that will yield a profit;
-promote the product so that potential customers will be aware of its existence and its ability to satisfy their needs;
-ensure that the product is distributed so that it is available to customers where and when needed.


11)Marketing research
There are two types of market research;Primary market research, secondary market research.
Primary market research is firs hand information from current and potential customers. The sources of primary
market research include:
-Market research surveys. Surveys by phone,mail or in person are used to assess the potential success of a product or
service.
-Market research focus group. A focus groups is a group of peoplewho gather around to talk about a particular
product services, and problems they haveand more.
-Market research individual interviews.Intead of conducting a group interview you can also conduct individual
interviews.
Secondary market research is the information someone else has gathered and includes:
-Reports/Sdudies
-Local newspapers and business magazines.many local newspapers and business related magazines offer
demographic date.
-Library.In the reference section of the library you wiil find financial data and statistics
-Market research statistics. There are many websites online that offer statistics for small market research
-Trade association
12)Markets and their classification
A market is a group of individuals,organizations,or both who have needs for products in a given category and who
have the ability,willingness and authority to purchase such products.
Markets are classifies as:
Consumer market consist of purchasers and/or individual household members who intend to consume or benefit
from the purchased products and who do not buy products to make a profit
Industrial markets are grouped broadly into producer,governmental and institutional categpries.
resellr markets consist of intermediares such as wholesalers and retailers who buy finished products and sell them
for a profit.
13)Marketing strategies.Marketing mix,benefits of marketing activity
A marketing strategy is a plan that will enable an organization to make the best use of its resources and
advantages to meet its objectives. Developing a marketing strategy involves selcting and advantages to
meet its objectives.
The marketing mix is probably the most famous marketing term.The best classification of these elements is
the 4 Ps:product,place,promotion and price, elements which are the basic,tactical components of a
marketing plan.Marketing serves a useful purpose. Some of te benefits of marketing activities include the
following:
-Development of new or improved products.
-Creation of time,place,and possession utility
-Creation of jobs
-Improved standard of living
14)Advertising and Publicity.Advertising Agencies
Advertising is the promotion of companys products and services carried out primarily to drive sales of the
products and services but also to build a brand indentity and communicate change or new
products/services to the customers.
There are four rules which servee as a sound guide when planning advertising and these should be
examined before any form of advertising is prepared.
Aim,Target,Media,Competitors
Depending on its purpose and message, Advertising may be classified into three groups.
Selective advertising,Institutional advertising, Primary-demand advertising


15)Advertising media.Print Advertising and Oudoor Advertising
The advertising media are the various forms of communication through which advertising reaches its
audience.; They include:
Print advertising. The print media has always been a popular advertising medium. Advertising products via
newspapers,magazines,brochure and fliers
Outdoor Advertising is also a very popular form of advertising,which makes use of several tools and
techniques to attract the customers outdoors. The most common examples of outdoor advertising are
billboards,kiosks ,Tradeshows and events.
16)Advertising media.Broddcast Advertising,Covert Advertising and
The advertising media are the various forms of communication through which advertising reaches its
audience.; They include:
Broadcast advertising is a very popular advertising medium that is constituted of several branches like
television,radio or the internet.
Convert advertising is a unique king of advertising in which a product or a particular brand is incorporated
in some entertainment and media channels like movies,television shows or even sports.