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    This document discusses key concepts in business and economics. It defines business as activities aimed at making a profit by producing and selling products or services to satisfy consumer demand. The economy is shaped by different systems like capitalism, communism, socialism, and mixed economies. Capitalism is described as a free enterprise system where demand and supply interact in the marketplace to determine an equilibrium price. Different types of competition in markets are also outlined, ranging from pure competition to monopoly. The goal is to develop leaders with knowledge to serve society through research and teaching.

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    This document discusses key concepts in business and economics. It defines business as activities aimed at making a profit by producing and selling products or services to satisfy consumer demand. The economy is shaped by different systems like capitalism, communism, socialism, and mixed economies. Capitalism is described as a free enterprise system where demand and supply interact in the marketplace to determine an equilibrium price. Different types of competition in markets are also outlined, ranging from pure competition to monopoly. The goal is to develop leaders with knowledge to serve society through research and teaching.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    4 views6 pages

    BMN84B S1

    Uploaded by

    lil pluie
    This document discusses key concepts in business and economics. It defines business as activities aimed at making a profit by producing and selling products or services to satisfy consumer demand. The economy is shaped by different systems like capitalism, communism, socialism, and mixed economies. Capitalism is described as a free enterprise system where demand and supply interact in the marketplace to determine an equilibrium price. Different types of competition in markets are also outlined, ranging from pure competition to monopoly. The goal is to develop leaders with knowledge to serve society through research and teaching.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 6

    BUSINESS AND MANAGEMENT

    The dynamics of business and


    economics

    Rokhima Rostiani, M.Mgt.

    1
    The concept

    Business

    Profit?
    Products
    Sustainability

    Satisfaction

    2
    Economy

    Communism Socialism

    Capitalism Mixed

    Intangible
    resources

    3
    Capitalism: free enterprises system

    Demand – The number Supply—The number of Equilibrium price—the price at which the
    of goods and services products that businesses number of products that businesses are willing to
    that consumers are are willing to sell at supply equals the number of products that
    willing to buy at different different prices at a consumers are willing to buy at a specific point in
    prices at a specific time. specific time. time.

    4
    Competition
    Many firms

    Pure
    competition

    Monopolistic
    competition
    Highly differentiated
    Highly similar product
    product

    Oligopoly

    Monopoly

    One firm
    5
    Thank you.

    Enriched by our vibrant international network but rooted in local


    wisdom, we develop leaders with the integrity and knowledge
    needed to serve society. Our contribution to the advancement of
    knowledge is through quality research and teaching.

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