Questions we Can Help you to Answer

Paper Instructions:

Essay: Understanding Economic impact on business activities  

Objective: Examine the nature of economics and economic activities that impact small business.

Introduction: Explore the economic principles and concepts pertinent to small-business ownership to determine the characteristics of the economy in which your business will operate. Depending on what your business will provide goods or services (or both in some cases), identify the economic condition related to supply and demand, production capacity, resource scarcity and the potential impact that government decisions will have on your business. Summarize your finding with an analysis of how you should plan accordingly.

Deliverables
The essay for this lesson is required to be a minimum of 5-full pages (to exclude title and reference pages) Include 3 additional resources to support your analysis, and for which clearly demonstrate your understanding of the impact the economy may have on your business.  Essays should have a clear introduction, thesis statement, and conclusion, written in APA format.

Activity Details
Step 1: Read the following questions, and use what you have learned about how the economy might impact your business industry, and to summarize your responses in 5 full pages. Consider the concepts and questions below when assessing the economy and the impact it may pose on your business:

Describe your ideal capitalist economy. Will these conditions maximize your sustainability and profitability? 

What indicators would you use to measure goods and services? 

What happens when the quantity demand is impacted?

Describe your socialist economy. Will this type of economy bring maximum sustainability and profitability to your business? 

Explain whom goods and services will be produced for. Who do you expect to sell most to and what aspect of the economy may impact your business activities the most? 

What happens when price flooring is in effect, and how does it impact your labor market? Your sales, your manufacturing? 


Step 2: Review the materials and conduct additional topic research to demonstrate the application of the concepts in a real-world business environment.


Step 3: Write a paper. Please review the links provided below, containing the essay rubric and APA formatting guidelines, prior to proceeding:

https://owl.english.purdue.edu/owl/