Use One of the Following Local Businesses to Answer the Following Questions

Local Business Questions

Use one of the following local businesses to answer the following questions.

Identify how the external environments affect the Business that you choose from the ones above.

Customers (who are your customers):

Government (What are some laws that you should know about in your business):

Economy (Is it a good economy for your business and why):

Competition (Who are your major competitors):

Public Opinion (Does your company have a good or bad reputation):

Of the different types of Global Economic Systems you researched (Traditional, Command. Or Mixed), which one would you want to use to sell your product in and why? (35 words or more)

Define how Markets as well as Supply and Demand affect the distribution of your product? In this region, what way can you distribute your product?

Write Traditional, Mixed or Command by the country for which Global Economic System you think each country or set of people use:

True or False Questions
TFCheetos would be an example of High Demand/Low Cost Supply Principal
T or FSubstitutes for the product you want is an example of a Nonprice influence on demand.
T or FDiamonds are an example of High Demand/Low Cost
T or FConsumers are the producers of the product
T or FFor Economics, efficiency means that the economy is producing just the right amount of goods and services to satisfy society’s wants at a minimum cost.
T or FComplementary Goods are not like Ketchup and Mustard for a Hamburger
What is Shifting Demand?

If you had to choose which of these was most important to your business that you picked above, which would you say is most and why: Human Resources, Agriculture, or Infrastructure.

Yes or No, are there such things as governmental international laws that can affect the profits of a business trying to export their product?

Of the business you chose above, list me at least 3 competitors to that business.